Pillars attract capital to achieve profits and stable environment

Pillars attract capital to achieve profits and stable environment


11/04/2013 12:00 AM

Idi describes the investment climate without encouraging

BAGHDAD - Hussein ثغب Tamimi

describes an economist investment climate in Iraq without encouraging real terms despite legislation of various multi, while select economic environment that allows capital to move the Ban of the pillars to make a profit and the stability of the economic situation.

comes in a time of escalating calls for activating the investment climate in the country, and work to attract global effort qualitative fields of employment and orientation for the investment of natural resources and the implementation of productive projects and services that develop the economy and create economies integrated through the recruitment effort domestically and internationally in the service of the economy and all sectors.

openness to the world , said Director in control of banking and credit agency and Walid Idi Abdul Nabi that Iraq needs foreign investment so as to be able to address the structural imbalances in the economy, pointing out that the openness to the world and to adapt to changing times is essential at this stage,

but it should be done on according to the conditions mentioned above, stressing that the investment does not have a working pressure on the balance of payments, as ICON pressure factor on economic and political decision. prioritization said Abdul Nabi, in an interview for the (morning) on the sidelines of an economic seminar that capital does not move,

but in an economic environment favorable, from the pillars to make a profit The stability of the political and security situation, taking into consideration the setting priorities that serve the economy as a whole,

and that is not the focus, for example »on exports and make the economy linked to overseas more than engagements of the Interior, as that's working for Iraq in the economic sphere still need clarity and select the tracks needed economic .

frequency of capital and continued Abdul Nabi saying: that the investment climate, the public still is not encouraging in terms of the actual despite legislation different adopted by the new Iraqi government because of the fluctuation of the overall security situation,

creating hesitation national capital and foreign investment to enter strongly in economic activity, as well as the role Most of the activity of the public sector and its institutions in the economic life of the general weakens the investment climate, competitive private sector.

reluctance of the application of the legislation and pointed to the reluctance of state departments in the application of the new legislation, and the weakness of the possibilities of institutions concerned with the practical and legal in the development of this legislation into practice,

as well as the instability of the mechanisms and reform policies Economic because of the frequency of institutional, weakens the desire of the Iraqi capital immigrant, or foreign capital to engage in investment operations in Iraq, pointing out shortcomings and lagging infrastructure, especially in the field of electricity, sanitation, water and others.

national wealth and pointed out that the objective conditions and economic to attract foreign investment requires that these investments are limited, so as not to lead to the control of foreigners on a large portion of the national wealth, and not granted any privileges not available to the citizens of the host countries of these investments,

as well as to take place within the framework of a partnership with the national capital in terms of both the public sector or private, and to be property overriding national capital. balance of payments and pointed to the importance that we turn to set up industrial projects is available in the host country, and establish rules for the liquidation of foreign investments if desired owners do, so that does not convert values ​​to an inappropriate pressures on the balance of payments their host country.

He pointed to the need to undergo any disagreement or dispute between the foreign investors on the one hand and between the citizens of the host country for investments to the laws of the host country as required by the requirements of sovereignty.

Stressed on setting priorities to serve the economy as a whole and the lack of attention to sector-specific without another in order not to create duplication in the economy between the Gaza متطلع abroad and another backward linked inside.

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