Analyst: State departments behind the ineffectiveness of Government investment

Analyst: State departments behind the ineffectiveness of Government investment




Proceedings of the Conference of the investment
to the province of Muthanna Investment Commission

Mohammad Karim 09/13/2013

Analysts say economists that investment in Iraq is still stalled despite the passage of nearly seven years to approve the Investment Law No. 13, and took him from the amendments supposedly increase the size of the facilities granted to the foreign investor and local alike, as well as frequent visits to the presidency of the government to various countries to promote investment and promises to overcoming all the obstacles in front of investors, but that investment is still selected in certain sectors comes the oil sector in the forefront, followed by industries a few such as cement, petrochemicals, while there are there are great investment opportunities too, perhaps the most important of which need the housing sector to at least About 3.5 million housing units, along with the presence of more than 250 of the largest factories stalled in various industries.

The economic expert on behalf of Jamil said multiple reasons for this, perhaps the foremost of which is the lack of investment culture among government agencies involved in the investment process.

But the head of the Center of Information Economic non-governmental Dergham Mohammad Ali believes that primarily responsible for the ineffectiveness of investment bodies formed in Baghdad and the provinces to promote the process of investment and support the movement is the government departments is associated with these bodies, but directly related to the investment process, stressing that the investment through circumstance Currently they are local investors only, warning that these investors have begun to immigrate to outside Iraq.

However, the economic expert on behalf of Jamil indicates that the investment does not constitute in any way a real investment, at the time still the big investment opportunities in the sectors of housing, industry, agriculture and energy waiting for investors who are able to exploit as they should be.

In this context poses president of the Federation Iraqi businessmen willing Blibl hypothesis stating that there is a tendency existed at the relevant authorities spend Balhúl without taking the private sector his chance in the investment process, explains Blibl in an interview with Radio Free Iraq, the foundations on which the Union this such a hypothesis.

Moreover, acknowledged deputy head of the Iraqi National Investment Salar Mohammed consistently low level of investment activity, despite attempts by the numerous cross-holding economic forums and take several measures to promote the process of investment in Iraq, pointing to the continued existence of a number of obstacles that are not able to body treatment, most notably fails Iraq's banking sector.

According to Mohammed presence of other problems related to lands allocated for investment and the government's inability to protect local investments, in addition to the problem of underdevelopment of the banking sector, pointing out in this context that the bureaucracy controlling the work of government ministries continue to prevent lead formations Investment Authority in Baghdad and the provinces and function, It is the most important department "single window" which is supposed to be granted all the required approvals investor to invest in within

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