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Single window and finance contribute to activating the investment
05/22/2012 0:00
BAGHDAD - Hussein Tgb Tamimi
varied determinants of investment in the country and took the tracks complex Committee is complicated in many cases, as well as the existence of considerable overlap and broad in the powers to take a negative impact on implementation and periods of achievement which has doubled in the most strategic projects and services in the general areas of the country.
and activation of the single window is one of the requirements based on the investment process in the country because they guarantee jobs and large can not be available in another country, reality of work today need to stand at the legislation governing the economic life and the mechanisms to deal with companies that you mean the country in order to implement the projects.
competent affairs of the financial Aqeel tempted stressed the importance of allowing private banks to enter into partnerships with international companies wishing to implement investment projects in all sectors benefiting from the large volume of deposits which is owned by private banks. Indicating that this approach helps to create the field of real work, in addition to increase the confidence of foreign capital in the orientation of the country benefiting from the Investment Law No. 13 of 2006, as amended, calling for reduction of the old laws that limit the flow of investment law, and stressed the importance of benefiting from the law of Kurdistan and the working environment are available there and that contributed to the upswing acceptable.
He pointed out that the success of private banks is measured by the extent of its commitment to systems and the Central Bank and raise capital does not mean anything for the development of the bank who owns the management of confused, and so find the administration's active role in the investment of depositors' money.
pointing to the importance of commitment to banking system accurate to achieve development in the field of private banking sector, which is one of the main pillars of achieving the economic boom in the country as well as investment companies that are waiting banking system provides global financial services.
He noted that depositors began to reside banks before handling and placement and selection of the best of them through its application to the financial system, an advanced and speed to provide banking services to the customer, especially investors who need banking services advanced.
He said the private banking system in Iraq, distinct and has the ability to provide better services to the investment process medium waiting for the field work of Iraq, especially that of private banks aware of and familiar with the follow-up investment companies and local, regional and international reality of their systems and their ability to adopt international regulations.
to that demanded an official source in the city of games Rusafa need to cooperate with the executive bodies, whether public sector or special, and that does Bernama single window adopted by the National Investment Commission and there will be periods limited for the completion of investment transactions, and the Nokia investor is the one who is working on a follow-up regulatory approvals that must be aggregated by the competent authorities in this regard.
He noted there are a lot of constraints that bedevil the reality of work and delay periods of achievement, including this project, which was received after four years of book assignment.
in addition to many of the concerns as well as the difficulty in dealing with ministries related to the mechanics of implementation, or those which owns the land or part of it, as the red tape that witnessed these ministries confuses work and delay periods of achievement and complicates the process of investing altogether and explained that the project is commensurate with the All stages of reconstruction, whether the means in the water and on land. One of the largest entertainment projects in Baghdad. And implemented based on the best modern technologies in the construction process and after delivery and services provided to the citizen, and the implementation expertise of local fully although the designs that have been adopted special needs accuracy in dealing with them and the mechanics of implementation, which indicates the ability of workers to recruit potential in the translation of universal design to business and existing projects on the ground.
researcher in regard investment Ala Salloum said: If you look at the investment process in the country, we found traveling at Slhfatyh not fit and ambitious country, and pointed to the importance of funding projects that are carried out by local investors through the ports in banks Iraqi differences, and praised Salloum initiatives Trade Bank of Iraq funded projects after providing the necessary guarantees, but he stood in this aspect at the mechanics of finance, said it needs to develop some of the joints and the estimated need of the project money through experts with competence and that the project is funded by help the investor to do business as planned, especially to provide adequate safeguards for the granting of loans.
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