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Planning emphasizes the control of the file lagging projects
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Economy News - Baghdad
The Ministry of Planning announced, on Wednesday, control over the file of lagging projects, while separating two concepts for investment inside Iraq.
The Undersecretary of the Ministry, Azhar Al-Rubaie, said, “The most important reasons behind the lagging projects are the lack of financial liquidity and the repercussions that accompanied it, such as the Corona pandemic, and the sharp drop in oil prices, which negatively affected the state’s ability to provide these projects with the required financial liquidity, which led to the cessation of a group of projects and decisions.” government.”
She added, "The ministry worked to limit and schedule lagging projects, and terminate unimportant projects, as projects were resumed according to priority that cover the development gap in all Iraqi governorates," stressing that "this file has been controlled."
She pointed out, "There are two concepts of investment. The first is the projects that are subject to Law 13 of the Investment Law, which includes a set of facilities and exemptions for foreign companies, including unified outlets for investment opportunities."
And she continued: "As for the second concept of investment: it is the investment projects that are included in the budget of the Republic of Iraq and funded from the budget of the Iraqi state, where the foreign investor receives a set of facilities represented by customs exemptions and the opening of credit."
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Added 06/21/2023 - 7:25 PM
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Economy News - Baghdad
The Ministry of Planning announced, on Wednesday, control over the file of lagging projects, while separating two concepts for investment inside Iraq.
The Undersecretary of the Ministry, Azhar Al-Rubaie, said, “The most important reasons behind the lagging projects are the lack of financial liquidity and the repercussions that accompanied it, such as the Corona pandemic, and the sharp drop in oil prices, which negatively affected the state’s ability to provide these projects with the required financial liquidity, which led to the cessation of a group of projects and decisions.” government.”
She added, "The ministry worked to limit and schedule lagging projects, and terminate unimportant projects, as projects were resumed according to priority that cover the development gap in all Iraqi governorates," stressing that "this file has been controlled."
She pointed out, "There are two concepts of investment. The first is the projects that are subject to Law 13 of the Investment Law, which includes a set of facilities and exemptions for foreign companies, including unified outlets for investment opportunities."
And she continued: "As for the second concept of investment: it is the investment projects that are included in the budget of the Republic of Iraq and funded from the budget of the Iraqi state, where the foreign investor receives a set of facilities represented by customs exemptions and the opening of credit."
Views 56
Added 06/21/2023 - 7:25 PM
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