Investment in Iraq .. dilatory projects and the absence of attractive laws for capital

Investment in Iraq .. dilatory projects and the absence of attractive laws for capital



BAGHDAD - The Journal News
sees a number of experts and specialists in economic affairs, said most investment projects in the country lagging behind due to the absence of laws that attract foreign capital and the environment guaranteeing the money, calling the federal government and parliament to activate the laws that support investment to revitalize the Iraqi economy.

She said a member of the Committee on Economy and Investment MP, beautiful Obeidi, told the «Journal News» "The investment is an important step to move the wheel of life in the country, but Iraq since 2004, and during the successive budgets have not done any pilot projects," pointing out that "foreign investment entered Iraq has not been exploited as the best the fact that corruption has spread like wildfire in the joints of the state. "

She stressed that " the ground of corruption in state institutions and the political party and the existing quota system has played a major role in the reluctance of investment projects and the expulsion of investors, which led to increased unemployment rates in the country."
For his part, the economic expert, Maitham Laibi's «Journal News» The "direct foreign investment in Iraq is limited and confined to certain companies , such as some of the oil companies and mobile phones."

He added that "foreign companies currently in spite of it, but I said monopoly companies won a high rate, except there are companies spin reasonable profit."

He explained that " the foreign investment needed according to international standards including: facilitating business and the extent of corruption and the rate per transaction tax system suitable investment environment if Iraq missed out , Iraq will be a kiss to invest."
He pointed out that "as long as these standards are outside Iraq and Iraq always gets a few degrees away, leading to a lot of Alastzqmarah foreign companies."

He stressed that "Iraq is a country rentier and more focused resources, however, the government of a given investment through investment projects, the company is dealing foreign government treatment of the contractor and take him to a surplus of profits."

He pointed out that "companies working in the areas of productivity of agriculture and industry do not run the risk of coming and investment because of the security and political situation as well as currency exchange, government policies and the issue of borders is appropriate to open its price."

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