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Economist: Corruption reduces the chances of success of investment in Iraq
May 28 2018 09:41 p
May 28 2018 09:41 p
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"The complexity of the administrative and legal procedures and the multiplicity of bureaucratic rings to obtain an investment license in Iraq is one of the main reasons for the alienation and alienation of foreign investments," Salem al-Bayati, a senior economist, told a news briefing.
Al-Bayati added: "The other reasons for the increasing rates of financial, administrative and political corruption in most of the granting of licenses to the foreign investor, as the investment bodies and ministries and other government institutions are full of corruption, which determine the bids according to the project of real financial gains (attributed to the project) .
He stressed that "dumping Iraqi markets with foreign goods from several countries and with the help of political influence in Iraq, impede the success of foreign investment projects to spread and gain markets in the absence of competition to support the foreign product for political and financial purposes."
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Ihab Jubouri
An economist underestimated the possibility of foreign investment success in Iraq due to administrative and political corruption and complex administrative procedures.
"The complexity of the administrative and legal procedures and the multiplicity of bureaucratic rings to obtain an investment license in Iraq is one of the main reasons for the alienation and alienation of foreign investments," Salem al-Bayati, a senior economist, told a news briefing.
Al-Bayati added: "The other reasons for the increasing rates of financial, administrative and political corruption in most of the granting of licenses to the foreign investor, as the investment bodies and ministries and other government institutions are full of corruption, which determine the bids according to the project of real financial gains (attributed to the project) .
He stressed that "dumping Iraqi markets with foreign goods from several countries and with the help of political influence in Iraq, impede the success of foreign investment projects to spread and gain markets in the absence of competition to support the foreign product for political and financial purposes."
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