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Economist: government agencies unprepared intellectually for investment operations
On: Wednesday 2/8/2012 9:03
Baghdad / follow-up long
economist said that dealing with the investor tainted by defaulting and extortion as well as financial corruption rampant in the joints of the government.
He said an expert on behalf of Jamil Antoine, "The Investment certain properties requires the availability in the forefront of Astbab security and stability within the country and this is a key requirement because the firm that" the head Funky Money "as well as the presence of an appropriate legal environment for investment,
And still there is a shortage in the legal environment, despite the issuance of the Investment Law No. 13 since 2006, but there are mishaps, amendments, and there are other devices and the laws are inadequate and inconsistent with the terms and investment law, including, labor law and security, income tax law, law firms still needs a lot of modifications and devices Implemented government unprepared intellectually.
He continued: We miss the investment awareness, and to the investment culture, and with great regret, we miss the ethics of investment, and to deal with the investor tainted by defaulting, extortion, corruption, financial and administrative "red tape killer" controls to deal in government departments in the spirit of bureaucracy and transcendence investors, and these are all factors inhibiting investment. "
He pointed out the existence of an industrial strategy set by the Ministry of Industry for over 20 years will be to develop the industrial sector, modernize and bring modern technology and working to change the old concepts, the concepts of command economy, and socialist, and going to the concepts of market economy to activate the role of the private sector to take a leading role in this process. According to industrialists that the obstacles that stand in front of the national industry lies in the facilities available for traders and importers and the absence of customs tariff and the lack of effective supervision on the goods entering Iraq. what makes the competition is absent between the imported products and local levels.
It is noted that Ministry of Industry is facing a difficult situation in many laboratories due to aging production lines and looting of many laboratories.
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