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Iraq not suitable for international investments", Reconstruction Minister
5/26/2015
Baghdad/ Iraq TradeLink: Iraqi Reconstruction and Housing Minister Tariq al-Khikani acknowledged that "Iraq is not suitable for investment projects due to governmental routine and lack of laws that will facilitate the work of the investors".
He added that 2015 budget of the ministry reached to 20% of the budgets of the previous years.
The ministry's budgets in 2013 and 2014 reached to one billion dollars each, but now the budget reached to 35 million dollars.
"This figure is not enough to finance the continuing projects and the expenses of the ministry", he elaborated.
On 29 April, 2015, Iraqi National Investment Commission announced 2015 investment map, which contained 990 projects.
He admitted that 2010-2014 reconstruction plans were not achieved.
The Iraqi Parliament approved 2006 Investment Law, but many foreign companies are still hesitant to work in Iraq due to the security situation and some clauses in the investment law were not able to attract the investors, despite the amendment of the law in 2010.
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5/26/2015
Baghdad/ Iraq TradeLink: Iraqi Reconstruction and Housing Minister Tariq al-Khikani acknowledged that "Iraq is not suitable for investment projects due to governmental routine and lack of laws that will facilitate the work of the investors".
He added that 2015 budget of the ministry reached to 20% of the budgets of the previous years.
The ministry's budgets in 2013 and 2014 reached to one billion dollars each, but now the budget reached to 35 million dollars.
"This figure is not enough to finance the continuing projects and the expenses of the ministry", he elaborated.
On 29 April, 2015, Iraqi National Investment Commission announced 2015 investment map, which contained 990 projects.
He admitted that 2010-2014 reconstruction plans were not achieved.
The Iraqi Parliament approved 2006 Investment Law, but many foreign companies are still hesitant to work in Iraq due to the security situation and some clauses in the investment law were not able to attract the investors, despite the amendment of the law in 2010.
[You must be registered and logged in to see this link.]
