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Iraq gives more facilities to foreign investors
2012-11-21 12:42:27
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BAGHDAD (Iba) ... The Iraqi government announced that it will give new facilities to foreign investors who want to work in Iraq in the sectors of energy, housing and tourism.
The Economic Adviser to the Iraqi government, peace Quraishi in a press statement that the decision aims to encourage investors to enter Iraq and work, adding that the new procedures will create a suitable environment for investment in Iraq, he said.
And involving facilities to grant investors the right to permanent residence in the country and shorten the routine procedures for projects that intend to invest in it, with big discounts on the tax rate and input Customs and speed introduction of imported materials and necessary in the project and the freedom to open branches and offices of the company invested, as well as the extension of the right to expropriate land for 25 years instead of 20 years.
The economists have said on more than one occasion that the investment as a whole is a new topic on Iraq, and promotion needs to several factors, including legal environment legislative sound and solid line with what exists of evolution in action the process of granting leave investment in the world without the presence of obstacles.
They despite the existence of a good law for investment, but its application on the ground collide with obstacles and hurdles many of them regard to land ownership and overlap between the provinces and ministries and the existence of the bureaucracy and the complexity of the procedures, so it must amend this law and add paragraphs remove some obstacles and facilitate the procedures of granting leave investment in order to attract investors .
They pointed out that when the investor request of granting the license process may continue for two years or more to complete the procedures for granting leave, making investors averse and resort to other places attractive.
The experts confirmed the existence of many obstacles prevented advancement of the investment process in Iraq, including the lack of a legal environment, despite the existence of a law, but it can not solve all the obstacles and barriers that stand in front of investors when they come,
They noted that the report issued by the World Bank put Iraq late mattresses among the countries in the field of investment and select a number of obstacles that impede the investment process in the country, calling for the benefit of the recommendations identified by the International Monetary Fund (IMF) to overcome obstacles and advancement of the investment process.
They said the investment has a big role in the economic development of the country must encourage investment and corporate by removing all obstacles and amend legislation.
According to the survey of companies conducted by the World Bank, pointed out that Iraq is ranked the 165 worst in the world to do business included the three largest obstacles to a lack of electricity and insurance instability and corruption.
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2012-11-21 12:42:27
[-] Text [+]
BAGHDAD (Iba) ... The Iraqi government announced that it will give new facilities to foreign investors who want to work in Iraq in the sectors of energy, housing and tourism.
The Economic Adviser to the Iraqi government, peace Quraishi in a press statement that the decision aims to encourage investors to enter Iraq and work, adding that the new procedures will create a suitable environment for investment in Iraq, he said.
And involving facilities to grant investors the right to permanent residence in the country and shorten the routine procedures for projects that intend to invest in it, with big discounts on the tax rate and input Customs and speed introduction of imported materials and necessary in the project and the freedom to open branches and offices of the company invested, as well as the extension of the right to expropriate land for 25 years instead of 20 years.
The economists have said on more than one occasion that the investment as a whole is a new topic on Iraq, and promotion needs to several factors, including legal environment legislative sound and solid line with what exists of evolution in action the process of granting leave investment in the world without the presence of obstacles.
They despite the existence of a good law for investment, but its application on the ground collide with obstacles and hurdles many of them regard to land ownership and overlap between the provinces and ministries and the existence of the bureaucracy and the complexity of the procedures, so it must amend this law and add paragraphs remove some obstacles and facilitate the procedures of granting leave investment in order to attract investors .
They pointed out that when the investor request of granting the license process may continue for two years or more to complete the procedures for granting leave, making investors averse and resort to other places attractive.
The experts confirmed the existence of many obstacles prevented advancement of the investment process in Iraq, including the lack of a legal environment, despite the existence of a law, but it can not solve all the obstacles and barriers that stand in front of investors when they come,
They noted that the report issued by the World Bank put Iraq late mattresses among the countries in the field of investment and select a number of obstacles that impede the investment process in the country, calling for the benefit of the recommendations identified by the International Monetary Fund (IMF) to overcome obstacles and advancement of the investment process.
They said the investment has a big role in the economic development of the country must encourage investment and corporate by removing all obstacles and amend legislation.
According to the survey of companies conducted by the World Bank, pointed out that Iraq is ranked the 165 worst in the world to do business included the three largest obstacles to a lack of electricity and insurance instability and corruption.
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