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Parliamentary Economic: We are working on a mature investment law
2/3/2015
BAGHDAD - Muhannad Abdul Wahab
Economic Commission parliamentary process of maturing amendments to be made to the investment law to the satisfaction of all parties and contributes to the activation of the rebuilding of the country in all sectors of the campaign, while the whole specialists on the need to raise awareness of what makes working in the concerned bodies to invest own efficiency and rush towards facilitating the application of the law, and in the form that he can contribute to attracting investors and encourage them.
Parliamentary Economic Commission member Nora Albjara, she said, the country is in dire need of investment law legislation can mature through Iraq to get up a lot of important projects that contribute to the development of all sectors.
The MP stressed the "morning" that the draft investment law is generally good when compared to the rest of the laws in the countries in the region, but the problem lies in the application of the law and those responsible to implement mechanisms.
She noted that the economic Parliamentary Committee determined to amend this important law has held meetings, including an international conference within the private sectors, embassies and investment authorities in the provinces and investors from several countries and formed a mini-committees to take the views and proposals of investors in order to stand on the truth and diagnose the defect in the law, asserting that The Commission has embarked on a mature appropriate amendments that would satisfy all parties.
But Albjara warned that "even if the amended investment law to the satisfaction of the investor That requires finding an effective mechanism for the application of this amendment on the ground by the staff concerned, especially as the problem lies in the application of the laws and the people who deal with the investor directly and not in the law itself.
And revealed that the committee in its amendments gave incentives for investors in many industrial, agricultural and service sectors, and amendments included soft loans for projects of low interest rate of 2 percent. He also drew a decision of the Economic Commission Harith al-Harthy, that the investment law is one of the most important laws that should accelerate the approval being in the interest of the country.
He said the "morning" that the current law has a lot of obstacles that make the Economic Commission is working to overcome these obstacles has developed several proposals for consideration by its members. He noted that the bank rehabilitation and increase public awareness of the culture of the investment will have a significant impact on the events of a quantum leap in the field of development, noting the importance of finding a substantive understandings on the paragraphs of the law and overcome the national spirit for adoption and thus achieve the interests of the country.
Observers saw the political affairs and legislation laws Rahim al-Shammari, that investment in Iraq is still in need of further scrutiny and review to get into an integrated law meets the urgent need for the country to him in light of the economic conditions facing the state. He warned in a statement the "morning" that the Investment Law No. 13 of 2006, as amended, does not meet the ambitious as investors faces high hurdles and obstacles very difficult, to the point he became investment pope of corruption and face another terrorism and led to capital flight. He advised the researchers need to adopt a high level out a vision for the appropriate application of the law in Iraq, and to benefit from the experience of the past years in order to avoid the obstacles faced by the application of the current investment law. Legal expert and Wael Abdul Latif, focused on the investment in Iraq faced the problem of providing safe investment environment.
He said the "morning" to create a good investment law must be a formula in which the quality of financial transactions and rehabilitation of the banking business in Iraq is available because it is still constrained and thus be governed by too many legal issues and does not meet the aspirations of investors.
And among "the most important thing in investment rule is allocation of land, Iraq is still believed that the investor will occupy the ground while the project is fixed and removable and thus gives law 40 years it is possible to renew which is important for the investor.
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2/3/2015
BAGHDAD - Muhannad Abdul Wahab
Economic Commission parliamentary process of maturing amendments to be made to the investment law to the satisfaction of all parties and contributes to the activation of the rebuilding of the country in all sectors of the campaign, while the whole specialists on the need to raise awareness of what makes working in the concerned bodies to invest own efficiency and rush towards facilitating the application of the law, and in the form that he can contribute to attracting investors and encourage them.
Parliamentary Economic Commission member Nora Albjara, she said, the country is in dire need of investment law legislation can mature through Iraq to get up a lot of important projects that contribute to the development of all sectors.
The MP stressed the "morning" that the draft investment law is generally good when compared to the rest of the laws in the countries in the region, but the problem lies in the application of the law and those responsible to implement mechanisms.
She noted that the economic Parliamentary Committee determined to amend this important law has held meetings, including an international conference within the private sectors, embassies and investment authorities in the provinces and investors from several countries and formed a mini-committees to take the views and proposals of investors in order to stand on the truth and diagnose the defect in the law, asserting that The Commission has embarked on a mature appropriate amendments that would satisfy all parties.
But Albjara warned that "even if the amended investment law to the satisfaction of the investor That requires finding an effective mechanism for the application of this amendment on the ground by the staff concerned, especially as the problem lies in the application of the laws and the people who deal with the investor directly and not in the law itself.
And revealed that the committee in its amendments gave incentives for investors in many industrial, agricultural and service sectors, and amendments included soft loans for projects of low interest rate of 2 percent. He also drew a decision of the Economic Commission Harith al-Harthy, that the investment law is one of the most important laws that should accelerate the approval being in the interest of the country.
He said the "morning" that the current law has a lot of obstacles that make the Economic Commission is working to overcome these obstacles has developed several proposals for consideration by its members. He noted that the bank rehabilitation and increase public awareness of the culture of the investment will have a significant impact on the events of a quantum leap in the field of development, noting the importance of finding a substantive understandings on the paragraphs of the law and overcome the national spirit for adoption and thus achieve the interests of the country.
Observers saw the political affairs and legislation laws Rahim al-Shammari, that investment in Iraq is still in need of further scrutiny and review to get into an integrated law meets the urgent need for the country to him in light of the economic conditions facing the state. He warned in a statement the "morning" that the Investment Law No. 13 of 2006, as amended, does not meet the ambitious as investors faces high hurdles and obstacles very difficult, to the point he became investment pope of corruption and face another terrorism and led to capital flight. He advised the researchers need to adopt a high level out a vision for the appropriate application of the law in Iraq, and to benefit from the experience of the past years in order to avoid the obstacles faced by the application of the current investment law. Legal expert and Wael Abdul Latif, focused on the investment in Iraq faced the problem of providing safe investment environment.
He said the "morning" to create a good investment law must be a formula in which the quality of financial transactions and rehabilitation of the banking business in Iraq is available because it is still constrained and thus be governed by too many legal issues and does not meet the aspirations of investors.
And among "the most important thing in investment rule is allocation of land, Iraq is still believed that the investor will occupy the ground while the project is fixed and removable and thus gives law 40 years it is possible to renew which is important for the investor.
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