Babylon Chamber of Commerce calls for mechanisms to facilitate the implementation of projects

[You must be registered and logged in to see this image.]

Put the Chamber of Commerce of Babylon perceptions about the reality of investment in the coming years given the decline in investment opportunities and the reluctance of domestic capital to enter the competition in the Iraqi market, demand better performance Investment Authority, through the activation of the work of single window for the purpose of facilitating the task of investors and shorten their review of the Chambers relevant away from the routine .

President of the Chamber said Eng honest Hashim's Afaihan (Center Brief for the Iraqi Media Network) that sag in Babylon Investment Commission and lack of experience are among the reasons for poor performance and the lack of investment opportunities for both domestic and foreign.


Amend the law

He stressed that the investment law needs to re-look at some of its paragraphs, although amended twice and possibly amended for the third time because it is governed by the decisions and put in the time of the former regime are still disabled, such as extinguish land and the banking system and facilities offered by the departments of investment for investors, which means that there is a need to reconsider All legal and governmental proceedings earlier, including activating the supervisory role on companies that get investment opportunities and linger in the implementation of the agreements signed.

Especially in the area of ​​private housing investment opportunities because it can not be disabled because of increased population growth and the country's urgent need to control the housing crisis.

Unfortunately, there are several in Babylon Off investment opportunities in this area and need to see the correct government to address them.

The reluctance of investors

He said, I've put forward by the meeting of the single window in the Investment Commission of Babylon, a number of processors, including the speed of granting visa to enter the country for investors and businessmen, because we have seen that the circles to invest abroad succeeded in attracting investors being dependent on the mechanism of action very sophisticated, including the head of the National Authority has authority of the Minister who specializes in granting visa to enter the country and that each department needs an investor finds the employees special runs stock investors in Jordan granted the license within 24 hours and in Egypt during the 72 while the license in Iraq may need three months to get them investor means add funds Other on the value of the project.

It also touched on the difficulties of investment and the reasons for the reluctance of foreign companies to invest in Iraq, including financial and administrative corruption and the state's ability to fight and the need for access to political stability, which works to create an environment suitable for the application of the laws Moreover, the security side, because the capital looking for a safe environment to recover from which with the provision of the will to promote local investment sector because the decision is currently distributed on several points with the involvement of various sectors in the legislation of laws that start from the bottom to the top of the pyramid and get away from the pleasantries in the granting of investment opportunities.


Local investor

The speaker of the Chamber of Commerce of Babylon, that there be a local investor interest at the present time as long as there is a clear absence of foreign investors because local capital remains is going on in the country while foreign capital back from where it came.

But that requires the development of the banking performance and reduce benefits, especially in the industrial bank with the allocation of sufficient amounts of money from the state budget to invest in the private sector.

He stressed the importance of relying on the two sides in the first investment promoter and confined to their duties in the development of propaganda for investment and this is in place now in Iraq and the second concerning the status of an investment map blogger question of what we want from the investor of the projects and the investor is not what he wants ..?

He pointed out that investment opportunities distributed on the map of the province of Babylon does not include projects strategy promotes economic reality where that all that exists is the gardens and games for children are examples of the absence of local investors is that the Chamber of Commerce of Babylon refuses to invest an area of ​​land located on the road to suit Najaf in an exhibition permanent foreign products, but we were surprised that the Investment Commission of Babylon given the opportunity to a Chinese company sells wholesale merchandise and singular and this means that regrettably hit the local market and cut Arzak hundreds of families that rely on commercial premises in a single sale.


[You must be registered and logged in to see this link.]