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Parliament holds Aovernmhvhl attract investors .. Economist: there is a misconception to invest in the country
On: Friday 1/27/2012 7:02
Baghdad / follow-up long
bore the economic and investment commission in the House the government responsible for the failure of the investment sector, calling for the establishment of an integrated system to support investment and investors participate in most of the institutions of the state in addition to the private sector.
A member of the Committee of Economy and investment representative Abdul Hussein Abtan for "Twilight News" that the government with most of the ministries responsible for the failure of the investment sector and attract investors to Iraq. He pointed out that the obstacles facing investors in government departments such as financial and administrative corruption and extortion by some of the staff caused the decline in investment in all areas. Abtan said that in Iraq today is a breeding ground to encourage investors to invest in all sectors, pointing to the need to establish the largest institution of the current investment. He called Abtan to the formation of an integrated system in which most of the state institutions and the participation of the private sector to move the wheel of investment and attract investors. It revealed the Finance Committee representative, earlier, that the International Monetary Fund called for in his recent visit to Iraq, the House of Representatives not to enact laws that contribute to undermine the growth of the Iraqi economy, indicating that the legislation of laws increase the operational budget at the expense of investment irritated the International Monetary Fund. For his part, said the economist Majid picture for the Agency (news): The process of creating moles of business by some neighboring countries in Iraq, this does not mean an investment but it will encourage the import foreign goods and there is a misconception to invest into some companies, the neighboring countries to Iraq to open its moles of commercial discharge the cargo under the pretext of investment, which in fact is not an investment but also encourage the import of foreign goods. He added the picture: that the investment process means open industrial plants by international companies in Iraq of goods produced local singing outside the country of import of consumer goods. The proposed investment of the picture all the industrial plants and to bring them to work with international companies in order to gain international experience and the development of local products for the purpose of strengthening the Iraqi economy and promotion. He said the picture: that the industrial and agricultural development of the country is very important because they provide all the things required by the citizens of the food or goods from industrial products, calling for the development of future strategic plan for the advancement of the different economic sectors. The House passed in October 2006 Iraqi investment law, which it was said at the time that he would open the doors wide the foreign investment, due to introducing a lot of facilities to foreign investors, many foreign companies are still hesitant because of fears that the security situation 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 investor.
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