4.13.2015
Long-Presse / Baghdad
Revealed the National Investment Authority, on Monday, seeking to hold a conference of the Business Council British in Baghdad "soon" for partnerships between the public and foreign private sector, as shown that the "tax exemption and Alkmarki" will be at the forefront of the facilities that will be provided to companies and investors, confirmed that there negotiations with the East Asian and European countries and the United States in the electricity projects and steel and cement in addition to petrochemicals.
The head of investment Sami al-Araji, in an interview with the (long-Presse), "during the next few days there will be a conference of the Business Council British in Baghdad aims to build partnerships between Iraqi private sector and the public sector and foreign together in order to help rebuild the country."
And on the provision of facilities for companies and investors, said al-Araji, "in the introduction to the facilities for companies and investors, there will be tax breaks and Kmarkip," explaining that "the exemptions that were limited only to the extent of three years in the past will be open over the creation of the project."
Araji said, "There are number of countries expressed their readiness to support Iraq in order to rebuild the old group," pointing out that "we are now negotiating with the East Asian and European countries and the United States in the electricity projects and steel and cement in addition to the petrochemical and what we saw of foreign companies it trust the Iraqi economy. "
Araji said, that "we have a problem in obtaining the land for the establishment of investment projects on them, but there is a big effort to liberate the land of the case with him to the best case, because it obstructed the work of investment projects because of the abusers."
The board of Investment Baghdad demanded, in the second of September 2015, Prime Minister Haider al-Abadi to form a committee to study the draft amendment to the Investment Law, attributed the reason to the failure to address the major issues that support investment projects, and accused the ministries of "blocking" projects, likely not to pass the draft law in parliament.
The House of Representatives in October passed, in 2006, the Iraqi investment law, which it was said at the time that it would open the door to foreign investment, because introducing a lot of facilities to foreign investors, but that many foreign companies are still hesitant because of the fear of reality security is stable in Iraq, adding that the law did not give investors the right to ownership of the property the project, and equated the Iraqi and foreign investors in each concession, with the exception of real estate ownership, where can the foreign investor of the lease the land for 50 years, subject to renewal, according to paragraph 11 of the investment law, to vote in the House of Representatives in 2010, to modify it.
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