Home
Do a lot of amendments to the investment law is the solution? / Ibrahim al-Mashhadani
Monday, August 03 / August 2015 19:52
I promised the Iraqi parliament member Nora Albjara legislation of the third amendment to the Investment Law No. 13 of 2006 and said that this amendment sent to the parliament of the national investment needed in-depth study because it contains a lot of problems, but claimed that the third amendment will happen a quantum leap in the field of investment because of Iraq It has the infrastructure to work.
I am not sure whether the draft third amendment, which I talked about this MP has all the ingredients that achieve qualitative leap in the investment process. This optimism appeared at many economists began when the investment law in 2006 so that some of them expected to be Iraq, Malaysia or Singapore of the Middle East. And it resulted from the large number of media confusion which is contoured by excessive promises of donor countries to pay the World Bank and the International Monetary Fund, who stands behind them the United States, a herald the completion of a unique model in the development and economic growth in this region. The neighboring countries have ratified it, which increased terrifying, causing it to take hostile attitudes and support for al-Qaeda to carry out terrorist acts and sabotage against Iraq, which he needed the money to rebuild the infrastructure of war-ravaged. That was before he realized the boom in oil prices, which went unheeded because of revenue growth of financial corruption and wastage rates instead of economic growth and employment of state funds in the commodity sectors of the economy and overcome the economic and social ruin.
We have shown the results of academic studies and seminars hosted by the research centers inside and outside Iraq and ideals of the published economic research, said the investment in Iraq is facing a wide range of challenges, perhaps the most notable security challenges starting from the sectarian war through the growing role of the base down to Aldoaash terrorists and their occupation of one-third of Iraqi territory. It has contributed to the completion of sabotage infrastructure base that I talked about the six MP. This is the second factor that the foreign investor is that the Iraqi did not transfer from the exercise of economic activity. It is also known that the tourism sector is a promising sector in attracting investors, but there are in the state apparatus who looks at this activity as one of the taboo, what reminds us to negotiate with the Palestine Hotel during the days of Eid al-Fitr, at a time when Iran to take the neighboring religious state concrete steps to support the tourism sector Alves cancel all seven countries, and this is the third challenge.
Also, the weakness of banking services no less important than the rest of the factors in its impact on the investment process and instead to exercise that role went some banks to the trade sector and submerged in the exercise of speculation and money laundering, in addition to all these challenges weakness chock services such as electricity, roads, services and facilitating administrative procedures comes , let alone extortion practiced by corrupt the direction of local investors. Is capital likely all of these challenges and pressures, a coward who is described.
From here we have to look at investment through all these obstacles from the government and parliament of government and independent economic institutions and realistically starting to solve this major problem. And where they need to time the State concerned to proceed with the priorities available, particularly the revitalization of state investment in support of commodity sectors through financial allocations in the annual budgets, and start from now in preparation for the budget 2016. In addition activating the partnership between the public sector and the private sector in the field of sectors operations goods and services, and activating the role of the banking sector by the central bank and directing this role in investment operations through bank loans and facilities, and work on the allocation of land for investment purposes through the leasing contracts for long periods or even land titling and get rid of the contract are not in line with the current stage requirements, especially in the provinces stable security.
[You must be registered and logged in to see this link.]
Monday, August 03 / August 2015 19:52
I promised the Iraqi parliament member Nora Albjara legislation of the third amendment to the Investment Law No. 13 of 2006 and said that this amendment sent to the parliament of the national investment needed in-depth study because it contains a lot of problems, but claimed that the third amendment will happen a quantum leap in the field of investment because of Iraq It has the infrastructure to work.
I am not sure whether the draft third amendment, which I talked about this MP has all the ingredients that achieve qualitative leap in the investment process. This optimism appeared at many economists began when the investment law in 2006 so that some of them expected to be Iraq, Malaysia or Singapore of the Middle East. And it resulted from the large number of media confusion which is contoured by excessive promises of donor countries to pay the World Bank and the International Monetary Fund, who stands behind them the United States, a herald the completion of a unique model in the development and economic growth in this region. The neighboring countries have ratified it, which increased terrifying, causing it to take hostile attitudes and support for al-Qaeda to carry out terrorist acts and sabotage against Iraq, which he needed the money to rebuild the infrastructure of war-ravaged. That was before he realized the boom in oil prices, which went unheeded because of revenue growth of financial corruption and wastage rates instead of economic growth and employment of state funds in the commodity sectors of the economy and overcome the economic and social ruin.
We have shown the results of academic studies and seminars hosted by the research centers inside and outside Iraq and ideals of the published economic research, said the investment in Iraq is facing a wide range of challenges, perhaps the most notable security challenges starting from the sectarian war through the growing role of the base down to Aldoaash terrorists and their occupation of one-third of Iraqi territory. It has contributed to the completion of sabotage infrastructure base that I talked about the six MP. This is the second factor that the foreign investor is that the Iraqi did not transfer from the exercise of economic activity. It is also known that the tourism sector is a promising sector in attracting investors, but there are in the state apparatus who looks at this activity as one of the taboo, what reminds us to negotiate with the Palestine Hotel during the days of Eid al-Fitr, at a time when Iran to take the neighboring religious state concrete steps to support the tourism sector Alves cancel all seven countries, and this is the third challenge.
Also, the weakness of banking services no less important than the rest of the factors in its impact on the investment process and instead to exercise that role went some banks to the trade sector and submerged in the exercise of speculation and money laundering, in addition to all these challenges weakness chock services such as electricity, roads, services and facilitating administrative procedures comes , let alone extortion practiced by corrupt the direction of local investors. Is capital likely all of these challenges and pressures, a coward who is described.
From here we have to look at investment through all these obstacles from the government and parliament of government and independent economic institutions and realistically starting to solve this major problem. And where they need to time the State concerned to proceed with the priorities available, particularly the revitalization of state investment in support of commodity sectors through financial allocations in the annual budgets, and start from now in preparation for the budget 2016. In addition activating the partnership between the public sector and the private sector in the field of sectors operations goods and services, and activating the role of the banking sector by the central bank and directing this role in investment operations through bank loans and facilities, and work on the allocation of land for investment purposes through the leasing contracts for long periods or even land titling and get rid of the contract are not in line with the current stage requirements, especially in the provinces stable security.
[You must be registered and logged in to see this link.]
