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Forum international companies in Basra, which concluded yesterday (25 February 2013)
Iraqi businessmen and British plan to establish a joint council in Basra to promote investment
Author: SKM
editor: WS 26.2.2013 15:18
Long-Presse / Basra
Announced businessmen Iraqi and British in Basra on Tuesday, determined to establish a joint business council to promote investment opportunities and create a climate of cooperation between Iraqi companies and European, to افتين to establish an economic forum Iraqi European in London during the month of May next to discuss the revitalization of the private sector in Iraq.
The head of the Union of Entrepreneurs of Basra, Sabih al-Hashemi, in a conference Union on Hath, the city center, and attended (range Press) that "Iraqi businessmen and the British have a desire to establish Iraqi Business Council of Britain, and create a real partnership in various disciplines among Iraqi companies and to benefit from the European technical consultancy and service provided by the Council.
The Iraqi Council - British Business, announced on Saturday (February 16, 2013), he would sign a memorandum of understanding economic relations with the province of Basra on Thursday, noting that the memo focuses on attracting investments to the province, a valuable confirmed that the memo will raise the status of Basra at the global level.
He also added that "Basra has great investment opportunities pay companies to come to market its investment projects, and that the Joint Business Council task will be to provide facilities for foreign companies in the field of consulting and project promoter."
It should be noted that businessmen from Iraq and Britain held in Baghdad, (31 September 2012), a conference to discuss the opportunities to develop the Iraqi economy, and to encourage and urged British companies to invest and work in Iraq.
For his part, attributed the Director of the Office to support investment in Iraq, Falah al-Sharif, reluctance of foreign companies to come to Iraq to wrong policies pursued by the institutions of the state in the promotion of investment projects, Kchiagh technical wrong in project contracts that do not fit the requirements of European companies, as well as a defect in mechanism to promote projects. "
He Sharif, expressed hope that "beyond the Iraqi government, the bureaucracy in the management of projects, and to provide facilities to the private sector, in order to create a genuine partnership between the two sides," revealing to go to "the establishment of an economic forum Iraqi European in the British capital of London, during the month of May next to discuss activating the private sector in Iraq. "
For his part, said a member of the Basra Investment Commission, Adel Said, in an interview with the (long-Presse), that "the investment facilities provided to investment companies in the field of housing and construction of commercial complexes, and provided investment opportunities for all companies within the stated specifications."
Saeed revealed that "Basra Investment Commission, granted 50 investment opportunity in the current year in a variety of areas," returned to "fees and taxes imposed on companies by the entry of materials can not be overtaken by the fact that outside powers."
And facing investment projects in the country, a lot of the most important obstacles regarding the allocation of land and the complexity of the powers and routine and significant delay in the proceedings and transactions, as well as rampant corruption.
And investors should be brought their projects to the National Commission for Investment, or the Investment Commission of the region, or province, for investment licenses, and can apply investment license to the "circle of single window", developed by the National Investment Commission, and conferred upon notification investor decision of the final in 45 days, to eliminate administrative red tape in granting leave investment, but this circuit still is disabled, which made a lot of investors are suffering through their access to investment licenses.
It is noteworthy that the investment in the province of Basra, (590 miles) south of Baghdad, began its work formally with the support of the British government beginning of October 2008, and thrown upon the body, diagnosis and secure investment opportunities and the issuance of licenses to Iraqi and foreign investors for projects in various sectors, on the that does not exceed the cost of each project on speculative billion dollars, and not to be related to the oil industry or the banking sector because the approval of projects of this type is the jurisdiction of the General Secretariat of the Council of Ministers.
The FDA issued since its founding more than 47 holiday, including 30 during the past year when she was making the implementation of projects in different sectors including housing, tourism, industry and agriculture by Iraqi and foreign companies, and total cost for those projects that have not implemented many of them so far more than 1,784,407,873 dollars.
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