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Investing in Iraq .. and the implications of decline
Praatha News Agency
163 2020-08-03
Written by Ayad Khudair Al-Akili ||
August 3, 202 No two today differ on the importance of the important and vital role of investment in the development of countries in various sectors and fields,
and at the time that major foreign investment companies contribute to the ages of these countries, they also contribute to the introduction of additional capital that contributes to increasing the national product of this country.
Accordingly, all countries are now taking this sector of exceptional and extreme attention, and many laws are enacted for it, aiming to facilitate implementation and investment procedures, giving large facilities to investors and providing various types of protection necessary for them in order to lure them to come and invest in the country.
In Iraq, after the approval of the Investment Law No. (13) for the year 2006 and its amendments, and the establishment of the National Investment Commission and investment agencies in the governorates, the Iraqis were very happy and hoped that these independent bodies would take their role properly and work strongly for the success of this sector, especially since Iraq has many advantages and constituents And promising investment opportunities in various sectors.
However, more than 14 years later, this sector's great failure has been exposed to all for many reasons, the most important of which is the poor management of investment bodies that have been unable to advance the reality of this vital sector and to what citizens aspire to.
There are many reasons that contributed to the delay and failure of this sector, the most important of which are:
the failure and underdevelopment of the banking sector.
Gaps in the investment law.
Weak protection for investors, their projects and their money.
General financial and administrative corruption.
Poor law enforcement.
Partisan quotas in the formation of investment bodies.
Insecurity is not working with the one-stop shop principle
Poor administration of governorates for this sensitive file.
Parties directly involved in the work of the bodies.
Neighboring and other countries are largely and passively entering to prevent the sector from succeeding.
Weak culture of investment in society.
The terrible bureaucracy in the state’s departments, its poor handling of investors and their public blackmail of them.
There are also other problems and obstacles that have contributed greatly to the failure of this sector and its delay.
We will try to shed light on it in the second part of our research, along with an explanation of the solutions that we think are effective and that can contribute to the success and development of this sector quickly and significantly.
The terrible bureaucracy in the state’s departments, its poor handling of investors and their public blackmail of them.
There are also other problems and obstacles that have contributed greatly to the failure of this sector and its delay.
We will try to shed light on it in the second part of our research, along with an explanation of the solutions that we think are effective and that can contribute to the success and development of this sector quickly and significantly.
Investing in Iraq .. and the implications of decline
Praatha News Agency
163 2020-08-03
Written by Ayad Khudair Al-Akili ||
August 3, 202 No two today differ on the importance of the important and vital role of investment in the development of countries in various sectors and fields,
and at the time that major foreign investment companies contribute to the ages of these countries, they also contribute to the introduction of additional capital that contributes to increasing the national product of this country.
Accordingly, all countries are now taking this sector of exceptional and extreme attention, and many laws are enacted for it, aiming to facilitate implementation and investment procedures, giving large facilities to investors and providing various types of protection necessary for them in order to lure them to come and invest in the country.
In Iraq, after the approval of the Investment Law No. (13) for the year 2006 and its amendments, and the establishment of the National Investment Commission and investment agencies in the governorates, the Iraqis were very happy and hoped that these independent bodies would take their role properly and work strongly for the success of this sector, especially since Iraq has many advantages and constituents And promising investment opportunities in various sectors.
However, more than 14 years later, this sector's great failure has been exposed to all for many reasons, the most important of which is the poor management of investment bodies that have been unable to advance the reality of this vital sector and to what citizens aspire to.
There are many reasons that contributed to the delay and failure of this sector, the most important of which are:
the failure and underdevelopment of the banking sector.
Gaps in the investment law.
Weak protection for investors, their projects and their money.
General financial and administrative corruption.
Poor law enforcement.
Partisan quotas in the formation of investment bodies.
Insecurity is not working with the one-stop shop principle
Poor administration of governorates for this sensitive file.
Parties directly involved in the work of the bodies.
Neighboring and other countries are largely and passively entering to prevent the sector from succeeding.
Weak culture of investment in society.
The terrible bureaucracy in the state’s departments, its poor handling of investors and their public blackmail of them.
There are also other problems and obstacles that have contributed greatly to the failure of this sector and its delay.
We will try to shed light on it in the second part of our research, along with an explanation of the solutions that we think are effective and that can contribute to the success and development of this sector quickly and significantly.
The terrible bureaucracy in the state’s departments, its poor handling of investors and their public blackmail of them.
There are also other problems and obstacles that have contributed greatly to the failure of this sector and its delay.
We will try to shed light on it in the second part of our research, along with an explanation of the solutions that we think are effective and that can contribute to the success and development of this sector quickly and significantly.
