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[size=36]Economic Committee: We support the government's intention to withdraw the lagging investment licenses[/size]
Economie| 05:28 - 25/04/2021
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Baghdad - Mawazine News
The Parliamentary Economy and Investment Committee hosted Suha Al-Najjar, head of the National Investment Commission, to review the work progress of the commission, as well as discuss a number of important investment projects.
Committee Chairman Ahmed Salim Al-Kinani said, "The Economic and Investment Committee supports the government's approach to withdraw lagging investment licenses."
Al-Kinani called the National Investment Authority to "study the files of lagging investment licenses and follow the legal contexts against violators according to the applicable investment law."
Al-Kinani added, "The committee has previously called on the National Investment Authority to withdraw the investment licenses that have been lagging, which have been granted for a long time, and no progress has been made in its projects based on the investment law that imposed penalties and fines against violators, including the withdrawal of the investment license."
Al-Kinani explained that the cancellation of the investment license is not related to the end of the period of implementation of the project itself and has not started with it. The red tape and bureaucracy in government departments that deal with the investor, as well as the opposition of some decisions issued contrary to the laws in force, which complicates the investment work and enters it in complex circles.
Al-Kinani stated that there must be specific timings that government agencies adhere to, which is outrageous to facilitate the investment process, starting from granting licenses to approving designs and other operational procedures that government agencies adhere to. In return, there must be a commitment by the investor to complete the project according to The specific timings and the imposition of legal procedures against the investor who is lagging in the absence of a real excuse for delaying work. Ended 29 / h
The Parliamentary Economy and Investment Committee hosted Suha Al-Najjar, head of the National Investment Commission, to review the work progress of the commission, as well as discuss a number of important investment projects.
Committee Chairman Ahmed Salim Al-Kinani said, "The Economic and Investment Committee supports the government's approach to withdraw lagging investment licenses."
Al-Kinani called the National Investment Authority to "study the files of lagging investment licenses and follow the legal contexts against violators according to the applicable investment law."
Al-Kinani added, "The committee has previously called on the National Investment Authority to withdraw the investment licenses that have been lagging, which have been granted for a long time, and no progress has been made in its projects based on the investment law that imposed penalties and fines against violators, including the withdrawal of the investment license."
Al-Kinani explained that the cancellation of the investment license is not related to the end of the period of implementation of the project itself and has not started with it. The red tape and bureaucracy in government departments that deal with the investor, as well as the opposition of some decisions issued contrary to the laws in force, which complicates the investment work and enters it in complex circles.
Al-Kinani stated that there must be specific timings that government agencies adhere to, which is outrageous to facilitate the investment process, starting from granting licenses to approving designs and other operational procedures that government agencies adhere to. In return, there must be a commitment by the investor to complete the project according to The specific timings and the imposition of legal procedures against the investor who is lagging in the absence of a real excuse for delaying work. Ended 29 / h
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