Soon .. New legislation for companies

Soon .. New legislation for companies


16/09/2013

BAGHDAD / JD / .. Confirmed for the economy and investment committee in the House of Representatives it is in the final stages of the new legislation to the work of companies that the current law restricts local companies to contribute to the development of the national economy.
He said Committee member Mahma Khalil told / JD /: that the committee now going towards the transition to a market economy and the development of the economy and its growth and development, indicating that neutralize and companies freeze affects the growth of the economy and economic development.
Khalil said: that the committee is seeking each Maandha of effort and strength to support the tireless companies in order to be productive, as well as support in terms of advancement and improvement of production to compete with foreign counterpart, and give these companies a competitive rate for the purpose of support in منتوجها.
And between Khalil that the Commission waiting for this law, which is still in the State Consultative Council, stressing that the committee will support this project strongly upon arrival to the House of Representatives.
The economist was Haydar Shamari has called for the need for new legislation to make companies that current law restricts local companies to contribute to the development of the national economy.
Al-Shammari said in a press statement that the Companies Act 2007 contains a lot of paragraphs that do not help in supporting local companies in the sector to contribute to the development of the country's economy as well as it does not allow for international companies to open branches in Iraq.
He added that this law make companies operate as it pleases without regulation, pointing out that most of them are not registered with the Ministry of Commerce, warning that the new legislation should support the corporate sector being one of the important sectors in the national economy.
In turn, was considered a member of the House of Representatives for the National Alliance Ibrahim stirrup Iraq of the most fertile environments in the world and the text of the Constitution to encourage investments in all sectors.
And told the reporter / JD / investors that the non-entry into Iraq was caused by the deterioration of the security and political situation, which led to the lack of infrastructure in the country and thus hinder the growth of investment in the economic sector of Iraq.
While local member of the House of Representatives for a coalition of state law, Dr. Salman al-Moussawi said the Commission had conducted an amendment to the Companies Act, noting that it met more than once, and held seminars with the concerned parties for the purpose of reaching a final version that can promote the level of production of local companies.
He told the reporter / JD / law firms in its final stages, warning that in the case of legislation will contribute to the revitalization of the economic process in the country. / End / / 22

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The economist was Haydar Shamari has called for the need for new legislation to make companies that current law restricts local companies to contribute to the development of the national economy.



Al-Shammari said in a press statement that the Companies Act 2007 contains a lot of paragraphs that do not help in supporting local companies in the sector to contribute to the development of the country's economy as well as it does not allow for international companies to open branches in Iraq.



He added that this law make companies operate as it pleases without regulation, pointing out that most of them are not registered with the Ministry of Commerce, warning that the new legislation should support the corporate sector being one of the important sectors in the national economy.



In turn, was considered a member of the House of Representatives for the National Alliance Ibrahim stirrup Iraq of the most fertile environments in the world and the text of the Constitution to encourage investments in all sectors.



And told the reporter / JD / investors that the non-entry into Iraq was caused by the deterioration of the security and political situation, which led to the lack of infrastructure in the country and thus hinder the growth of investment in the economic sector of Iraq.




This is definitely a big step in the right direction IMO. I just hope they actually pass it instead of just talking about it

I believe this #2 investiment law !!!! That's 2 of 3 $$$