Home
Parliamentarians: an urgent need to amend the investment law, the current
Date: Monday 04/06/2012 8:12
Baghdad / follow-up term
louder calls to amend the investment law No. 13 of 2006 by the circles of parliamentary and other economic, at a time in which it announced the National Investment Commission its full support to the private sector domestic and foreign to activate and stimulate investment in the country.
The Member of the economy and investment deputy Abdul-Abbas, broadly, that the law on investment in urgent need for changes in some of the paragraphs to keep pace with the investment laws in the world.
said Xiaa (of the Agency news): The investment law needs to be a lot of amendments to keep pace with the investment laws in the world, noting that there investment laws many official shall not apply on the ground and very subject of the single window and leave land to foreign investors and Arab.
He added that the foreign investor when resorting to invest in Iraq needs a long time to get the investment license as a result of the large number of reviews and this is not applicable universally in the law of the single window, and the investor sometimes gets investment license but when he goes to the place of investment facing the challenges of the subject land given to the implementation of the project and the difficulty of visa is a kind and difficulty of the approval of investment projects.
He continued that in the year (2008) was the amendment to the Investment Law No. (13) for the year (2006 ), where the House of Representatives held a conference for investment under the auspices of the economy and investment, and a committee was formed from the Investment Authority and the private sector for research in the investment law and the obstacles in the investment that is practiced by the authority of the Executive Committee heard for investors and studied their notes and in the light of this conference was pressed Government to amend the law.
to that announced the national investment support for the transformation of the Iraqi economy from a centralized to market economies, especially in the productive and service sectors, with Deputy Foreign Minister, the Dutch and the existence of a genuine desire by the Commission to overcome the difficulties that may face his country's companies through its work in Iraq. The head of the Sami al-Araji, during a press conference held on the sidelines of a meeting with a delegation investment Dutch, led by Deputy Foreign Minister, the Danwirk according to "Sumerian News", "the Commission supports cooperation between the Iraqi private sector and counterpart foreign to Iraq's development process of reconstruction and construction and transformation of the economy centrally planned economy to a market, especially in the productive and service sectors. " Araji said that "the visiting delegation will have rounds in a number of ministries and provinces to discuss investment opportunities in the country," adding that "this delegation Satalaana on the needs of Iraq's investment and the contribution of his companies in the process of reconstruction and construction." The al-Araji, that "the investment opportunities delegation of the Netherlands will not be limited to official bodies, but also with the business," pointing out that "the Netherlands is one of the friends of Iraq veterans, and represented it since time immemorial."
For his part, Deputy Minister of the Dutch Foreign Affairs State the Danwirk during the conference that a number of Dutch companies wishing to work in this country within the investment law has a long history in the areas of different sectors of production and chemical industry. "
The Danwirk that "there is a genuine desire of the National Investment Commission to overcome the difficulties that may confront us during our work in Iraq. "
Prime Minister Nuri al-Maliki called, beginning in November 2011, to change all economic legislation and laws to fit the orientation of Iraq to a market economy, stressing the need for a law guaranteeing all companies that wish to invest in the country.
Parliament passed, in the month of October of the year 2006, the law of investment, which it was said at the time that he will open the doors to foreign investment by introducing a lot of facilities to foreign investors, and equated the Iraqi investors and foreign investment in all the privileges except owns the property the project, and the text in paragraph 11 that it can be for foreign investors lease land for 50 years, renewable only that he is not entitled to own them. It is incumbent upon investors to submit their projects for the National Commission for Investment or the Investment Commission of the region or province for investment licenses and they can apply for investment license to the Department of the window one developed by the National Investment Commission and authorized to inform the investor's decision to the final within 45 days in order to eliminate administrative red tape in the granting of investment licenses.
[You must be registered and logged in to see this link.]
