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A member of the Parliamentary Economy and Investment Committee, Nada Shaker, revealed on Wednesday (August 18, 2021) that dozens of investment licenses have been granted to businessmen for profit purposes only, stressing that there are no such projects on the ground.
Shaker told IQ News , "There are dozens of investment licenses granted in legal and illegal ways to Iraqi businessmen for profit purposes only," noting that "those projects do not exist on the ground."
She added that "investors have benefited a lot from those licenses through government loans granted to them, as well as their access to plots of land for the construction of the project, in addition to the customs exemptions they obtain as a result of bringing goods and commodities into the country under the pretext of using them in building the project."
And she indicated that "this type of fraud and manipulation is a great corruption, so the National Investment Authority and the competent authorities must set a specific time limit and be followed up by them for the implementation of projects, not to grant investors the first and second loans until after the project completion rates have reached advanced stages."