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Commission Economy: Investors received proposals and prepare investment law requires time
2/22/15
Twilight News / Commission said the parliamentary economy and investment, Sunday, that the committee has received many proposals for amendments to the investment of local and foreign investors Act, noting that the completion of the amendment to the law requires time because of the large number of observations.
alt Said committee member olive Hussein's "Twilight News" that "the Commission is seeking through the new amendment to the investment law to make it legally attractive for investment and not repellent," noting that "a number of proposals received by the Committee of foreign-related local investors some problems they faced in the implementation of their projects investment because of the paragraphs in the investment law in force. "
Olive and added that "the Commission is currently working on the discussion of all the proposals that have reached a view to formulating a final within the paragraphs of the law", anticipating that "the new amendments take extra time because of the large number of observations."
And passed the House of Representatives in 2006, Law No. 13 of private investment to encourage foreign companies to enter the country and to contribute with the government's efforts for the reconstruction of infrastructure destroyed by wars and terrorist attacks.
The House of Representatives held in 2009 an amendment to the law allowed for the foreign investor the right to own land and property belonging to the State allowance determined in accordance with special regulations, has also the right to own land and property belonging to the mixed and private sectors for the purpose of establishing housing projects on them.
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