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Cabinet approves investment promotion and protection bill with Saudi Arabia

rocky
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Saudi - Cabinet approves investment promotion and protection bill with Saudi Arabia Empty Cabinet approves investment promotion and protection bill with Saudi Arabia

Post by rocky on Tue 28 May 2019, 6:39 pm

[size=35][size=35]Cabinet approves investment promotion and protection bill with Saudi Arabia[/size]
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2019-05-28 10:12
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[size=18]The Cabinet on Tuesday approved a draft law on the promotion and protection of investment with Saudi Arabia and approved a draft agreement to avoid double taxation between Iraq and Pakistan.


"The Cabinet held its regular session today under the chairmanship of Prime Minister Adel Abdul Mahdi, and discussed many topics prepared for its agenda," the media office of the prime minister said in a statement received by Alsumaria News.





"The Council approved the draft law on the ratification of the Agreement on the Promotion and Protection of Investment between the Government of the Republic of Iraq and the Government of Saudi Arabia and the approval of the draft avoidance of double taxation and the avoidance of taxes on income and capital between the Government of Iraq and the Government of the Republic of Pakistan."


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Saudi - Cabinet approves investment promotion and protection bill with Saudi Arabia Empty Re: Cabinet approves investment promotion and protection bill with Saudi Arabia

Post by Lobo on Tue 28 May 2019, 6:56 pm

Thanks Rocky, the Trade Bank is still not operational but LICENSED, hoping this is the final piece of the puzzle and the Trade Bank becomes operational and the RV appears - yes, yes, yes

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Saudi - Cabinet approves investment promotion and protection bill with Saudi Arabia Empty Cabinet approves draft investment promotion law between Iraq and Saudi Arabia

Post by rocky on Wed 29 May 2019, 2:37 am

Cabinet approves draft investment promotion law between Iraq and Saudi Arabia

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The Iraqi Council of Ministers approves the draft law on the ratification of the Agreement for the Promotion and Protection of Investment between the Government of the Republic of Iraq and the Government of the Kingdom of Saudi Arabia

RODAO, Iraq - 

The Iraqi cabinet on Tuesday approved a bill to encourage and protect investment with Saudi Arabia. 

This came during an official meeting of the Council headed by Iraqi Prime Minister Adel Abdul Mahdi. 

The Iraqi Council of Ministers approved the "draft law on the ratification of the Convention for the promotion and protection of investment between the Government of the Republic of Iraq and the Government of Saudi Arabia," according to a statement issued by the Iraqi government. 

Saudi Arabia resumed diplomatic ties with Iraq in December 2015, 25 years after it was disrupted by Iraq's invasion of Kuwait in 1990. 

After decades of tension, relations improved after a visit to Baghdad on February 25, 2017 by the then Saudi foreign minister , Adel Al-Jubeir. 

It was the first time a senior Saudi official had arrived in the Iraqi capital since 1990, paving the way for more reciprocal visits.

In June 2017, Iraqi Prime Minister Haidar al-Abadi visited Saudi Arabia and agreed to establish a "coordination council" to upgrade relations to a "strategic level." 

On April 4, 2019, the Saudi Minister of Trade and Investment, Majid al-Kasabi, announced that the Iraqi side had provided 186 opportunities for Saudi investors to invest in Iraq. 

  A Saudi delegation of 100, including nine ministers, visited Baghdad to discuss the development of relations and economic cooperation. 

The Iraqi government says it needs $ 88 billion over 10 years to rebuild what has been destroyed by the violent war against the terrorist "Da'ash" organization over three years (2014-2017). 

Observers believe that Iraq is one of the battlegrounds for regional influence between Saudi Arabia and Iran, which has close ties with most Shiite political forces in Baghdad.

On the other hand, the Iraqi cabinet voted to "approve the draft agreement to avoid double taxation and evasion of taxes on income and capital between the Government of Iraq and the Government of the Republic of Pakistan."


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Saudi - Cabinet approves investment promotion and protection bill with Saudi Arabia Empty Re: Cabinet approves investment promotion and protection bill with Saudi Arabia

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