Government action to encourage investment and achieve partnership with the private sector

Government action to encourage investment and achieve partnership with the private sector

 

10/8/2017 12:00 am

Baghdad / Al-Sabah
The Prime Minister's Office announced yesterday the government measures to encourage investment and achieve partnership with the private sector.
"Since its establishment, the government has adopted an ambitious program to achieve partnership with the private sector, open new doors for investment and encourage investors, whether individuals or companies, to enter the Iraqi investment market. Starting from the procedures of registration and issuing and granting investment licenses by adopting a single window. "
He noted that " Many of the loopholes that have hindered the government's efforts to open promising horizons for investment in various sectors have been removed. To complement this endeavor and to confirm the serious desire of the government to move forward with this trend and to make a breakthrough in the Iraqi investment market, this subject has been the subject of lengthy research, Held by Dr. Haider Al-Abbadi, Prime Minister in all the meetings held, forums and international forums in which he participated with the officials of various countries and with representatives of international companies specialized and has the potential and expertise of investment as well as with officials of financial organizations The specialized Mechanism was this aspect is an important focus on the agenda of Dr. Abadi on his visits by the number of countries and also in meetings with officials who visited Iraq. "Sabri added that" In order to stimulate the labor market in Iraq and to stimulate the economic cycle, the government has continuously sought to do everything in its power to stimulate investment, stimulate the private sector, and encourage investors to enter the various economic, development and service sectors in recognition of the importance of investing in providing the necessary requirements for finding jobs in large numbers. Reducing the burden on the state in this regard, activating many sectors of labor, trade and transport, rebuilding the industrial sector, developing the agricultural sector, finding effective solutions to the problem of housing and establishing the projects necessary for economic development and development. The provision of basic services to citizens and the rehabilitation of infrastructure in the field of energy, transport, education, health and other vital areas associated with the development of the Iraqi economy and provide better services to the citizen in addition to providing new income resources to the state budget and within this governmental approach has been approved by the Cabinet of the system of sale and rent of real estate and land Country
And the public sector for the purposes of investment and flat on it " He explained that" the National Investment Commission in coordination with the Investment Authority in the region or in the provinces are not organized in the province to identify the appropriate properties for the implementation of investment projects and coordination with the owner of the real estate in the allocation of real estate for the establishment of investment projects to deliver The real estate allocated to the project to the investor within 30 days from the date of allocation free of concerns and provides for the formation of a federal committee composed of the Chairman of the National Investment Commission Chairman and membership of: the head of the investment in the province or province T regular province, and the Director General of the General Authority taxes, and general manager of the Real Estate Registration Department, and a representative of the owner of the property. "This committee also handles" The Federal Committee and the subcommittees shall be guided by the rules of the estimates in force at the General Authority for Taxation and the Real Estate Registration Department and the use of the relevant legal legislations for estimating the value of the property and the experts and specialists for the purpose of estimating the sale and rent allowances. The owner of the property shall comply with the estimated sale or rent allowances of the aforementioned committees Non-compliance The National Investment Authority shall present the minutes of appreciation to the Council of Ministers for the issuance of the appropriate resolution by adopting them. "The owner of the property dedicated to the investment projects is obliged to conclude the legal action contract For 30 days from the date of the estimation of the sales or lease payments or the Musataha, and owns the land allocated for residential projects within the basic design with a sale allowance of 10% of the value of real land. As for the incentive to invest in the housing sector and to reduce the wages of housing units in investment complexes to the maximum extent possible in support of the registrants on these units, he pointed out that "the new system guarantees the ownership of the investor and developer land allocated for housing purposes (outside the basic design) The value of the land within the value of the residential unit sold to the citizen, in order to push towards the establishment of major housing projects contribute to address the problem of housing and provide housing units at prices commensurate with the income level of the vast majority of citizens. "Regarding land allocated to industrial projects, Li possessed sale of allowance 15 percent of the real value of the land located within the base design, and 5 percent for the land located outside the foundation design. "With regard to the rent he drew Hadithi that"
The system provides for the land required for the implementation of multi-purpose residential projects such as residential, recreational or service complex within the residential cities on a rent or a flat fee of 7% of the value of the rental allowance estimated at 10% of the real value of the land provided that the investor return land used for public benefit such as parks, streets and others to government agencies concerned within 60 days from the date of completion of the project for free. "He added that earmarked for agricultural projects , land leases as follows: 1. the land reclaimed arable and its share of water allowance rent of 20%.  
2. land is not Arable Stsalehh and its share of water allowance rent of 10%.
 3. land is arable reclaimed and have no share of water allowance rent of 2%.  4. land is reclaimed and non - arable and have no share allowance rent of 1%. " In the case of industrial projects that are set up in the areas specified for the purposes of industrial investment projects, they are rented with a rent or a flat rate of 2% and the same percentage applies to electrical, oil and other projects outside the municipal boundaries. %, And for tourism projects such as tourist cities or cities of games or recreational complexes and other Vsri rent or 10% of the price of Mstaha and in relation to commercial projects such as commercial centers, hotels and others are subject to a tenancy or a flat rate of 10% The first fifteen years of commercial operation of the project start date, and the ratio after the end of the period mentioned rent allowance of 3% of the value of the land ".alhdithi stressed that" The sale or lease fees or the landownership shall be transferred to the owner of the land provided that 50% of them are allocated within the budget of the concerned parties to provide the external infrastructure services or public utilities within the project and to encourage the investors there will be a grace period in the payment starting from the date of maturity of the ownership, From the date of commencement of commercial operation or production of the project that the investor is committed to the completion of the project during the period specified in the contract, and to expand the base of beneficiaries of investors of these investment incentives, the provisions of this system will apply to residential investment projects on the Investment window breaks before the issuance of the Second Amendment to the Investment Law No. 50 of 2015 and did not conclude contracts for which ownership or Musataha. "

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