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National Business Council calls for the establishment of the Bank of state land to move the investment file and freeing it from the current obstacles
2/17/15
Counting the Iraqi National Business Council, on Tuesday, that the allocation of land and red tape are still hampering the movement of investment in the country, a proposal to establish a "Bank of the territory of the state" to determine the official bodies property and show the surplus for investment to activate the file and facilitate the process of attracting foreign investors.
The head of the council, Karim al-Shammari, said in an interview to the (long-Presse), "The land allocation of the main problems faced by the investor, whether Iraqi or foreign, despite the facilities provided by the local and national investment authorities," adding that "the routine is still poses a significant obstacle, because of the overall investment of some ministries and state lands in spite of her lack of need, as well as official correspondence, which takes several months. "
He believed al-Shammari, that "the best solution at the current stage is to establish a bank of state land, take inventory of the ministries and official bodies property and sort the surplus for the need for the task," a proposal to be "the ownership of the bank to the investment authorities in all provinces of Iraq."
The head of the Iraqi National Business Council, said, "that the bank will, if approved, a very large role in moving the investment profile and attract foreigners to Iraq investors to implement different projects away from the routine of ugly," noting that "investment authorities will know then land bank launches project approvals on accordingly. "
The Deputy Prime Minister Ruz Nuri Shaways, ft, in (the fourth of February, the current 2015), ten proposals for the advancement of investment, most notably the abolition of "laws inherited" from previous eras, as well as support and the assignment of private banks to participate in the investment process, as called for continued adjustments in the investment law, stressed the need to address the infrastructure, especially related to energy as the basis in the investment process.
The board of advisers in the Iraqi Council of Ministers announced that, in (the 31st of January 2015), announced the launch of the national strategy to develop and nurture the private sector, while confirmed that the strategy includes the diversification of sources of income and the creation of investors and the private sector an attractive investment environment, indicated that they will contribute to the departure State gradually for the care of the projects directly.
The representatives of the Iraqi private sector called for in (the ninth of August 2014 the past), the legislation supporting the laws of this sector, and stressed the lack of workers in this sector to "experience and their need for training," and while criticizing the way the private industrial sector to deal with projects and places of distribution, called Council of Ministers of the private sector not to fear from entering any investment project to compete with "foreign companies" and improve the cultural level of the workers in it.
The National Business Council, announced in (27 December 2014), for presenting a working paper to the Economic Committee of the Council of Ministers to support and activate the "private sector" in light of lower oil prices and the financial crisis experienced by the Alarac, and stressed that he aims to be an ally and supportive of the economy Albulad, and as pointed out that the Iraqi economy is suffering "a big blur," It is not a "totalitarian nor free", expressed his willingness to make detailed studies and research for the development of all economic sectors, modernization and advancement.
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