Defer the adoption of economic laws broken to the House of Representatives next[

[ltr]10.12.2013[/ltr]


[ltr]Excluded the parliamentary Finance Committee approval of some economic laws broken by the House of Representatives during the remaining period of the current parliamentary session, saying that the discussion will be limited to the federal budget for the year 2014. [/ltr]
[ltr]
And is interested in economic affairs that the deportation of economic laws to the House of Representatives next would undermine investment operations that have been announced, particularly since the administrative red tape in government departments is very complex for investors, as well as the corruption that is spreading in most state institutions. [/ltr]
[ltr]
The Central Bank of Iraq, has confirmed his quest to amend the banking laws commensurate with the current situation, and pointed out that the money laundering law is the most prominent laws that seek to modify it, while stressing that he go play the developmental role of the Iraqi economy. [/ltr]
[ltr]
The governor of the Central Bank and the Agency Abdel Basset Turki said in his speech during a workshop organized by the bank to modify the legal environment of banking in the Palestine Hotel, "Since we received the responsibility of the central bank discussed with the competent legal possibility of amending the banking laws, which came after the occupation, according to the exceptional circumstances in order to develop and make them commensurate with the current banking business. "
The deputy chairman of the Finance Committee MP Ahmed Faizullah, there are a range of important economic laws still is disabled by the government and other non-legislator by the House of Representatives, as a result of the differences between the political blocs. [/ltr]
[ltr]
He noted that the House of Representatives Sinchgl in the coming days to discuss the vertebrae and materials budget for the year 2014 until the approval and this will take a long time, stressing that the activation of certain laws, including the economic current parliamentary session is unlikely. [/ltr]
[ltr]
The economic laws of the law to protect the national product and consumer protection, infrastructure, law firms, oil and gas and the founding of the national oil company and the tariff as well as other laws are still not disabled by the parliament and the government, and the reason is due to political differences. [/ltr]
[ltr]
The House of Representatives has passed in October of 2006, the Investment Law, which it was said at the time that he would open the doors to foreign investment because of introducing a lot of facilities to foreign investors, and equated the Iraqi investors and foreign investment in all liens except owns the property the project, and text in Paragraph 11 of it as a foreign investor can lease land for 50 years, subject to renewal, but he is not entitled to possession. [/ltr]
[ltr]
It is incumbent upon investors to submit their projects to the National Commission for Investment or the Investment Commission of the region or province for investment licenses and can apply for investment license to the Department of the single window developed by the National Investment Commission and authorized to inform the investor's decision to the Commission the final within 45 days in order to eliminate administrative red tape in granting of investment licenses. [/ltr]
[ltr]
For her part, the parliamentary Economic Committee earlier, that the investment law need some amendments in line with the nature of directed economy in Iraq, while confirmed that the bank guarantees one of the problems that stand overall foreign investment in the country, and described the Iraqi banks as being more like the offices of banking . [/ltr]
[ltr]
The Iraqi government has made in April 2010, in collaboration with experts from the United Nations projects for economic reform includes restructuring of the Iraqi economy in accordance with the requirements of the transformation of the general economy centrally planned to a market economy, the private to ensure the expansion of the productive base of the Iraqi economy by adopting the mechanism of the free market and the organization of a price and trade external and internal. [/ltr]
[ltr]
And confirms a study by the U.S. Agency for International Development to review and reform of the economic laws will return to Iraq a number of benefits most important to improve government services and private sector involvement in the provision of services and infrastructure and the provision of the costs of government and reduce corruption as well as Iraq to get international recognition and improve Ranked globally and configuration to join the organization global trade.[/ltr]


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