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Upcoming amendments to the Industrial Investment Law
The first 2023/08/27
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Baghdad: Muhannad Abdel Wahhab
The Parliamentary Investment and Development Committee stated its support for all types of investment, noting that it is working on amending the Industrial Investment Law.
Committee member Susan Mansour said, in an interview with "Al-Sabah": "We encourage investment of all kinds, industrial, agricultural, recreational, especially those that return to the state in general," noting that "the committee is currently working on amending the Industrial Investment Law, and it will take its turn in voting." in the next stage.”
She added, "The point of disagreement in the law is the land within the basic design of the city of Baghdad, and we believe that it should be far from ownership for investment," pointing out that there are "100,000 industrial investment licenses in Baghdad, and if we owned all these lands for industrial investors, what will we say to generations?" And what will remain for the state?
And the deputy continued, “The law in the form of land ownership for investors will not pass the vote, and lands outside the city limits may be excluded,” adding that “with regard to residential investment, Baghdad is overcrowded, which indicates that the streets of the capital have grown very large, and therefore the construction will be outside the city in administrative cities.” to reduce momentum."
She criticized the current housing investment, and explained that it "did not help solve the housing crisis so far, but exacerbated the crisis at very high prices that are not commensurate with the incomes of citizens," calling for intensifying supervision over investors and working to evaluate work again and preserving the state's return from the investor, in addition to To oblige investors with economic and technical feasibility, while mentioning prices.
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