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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq: the growth of the number of foreign companies during the first half of 2014

    Rocky
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    Iraq: the growth of the number of foreign companies during the first half of 2014 Empty Iraq: the growth of the number of foreign companies during the first half of 2014

    Post by Rocky Thu 14 Aug 2014, 6:46 am

    Iraq: the growth of the number of foreign companies during the first half of 2014




    08/13/20140 



    Mokhtassan stressed that Iraq is a promising market to accept all investment projects needed by the country and which can be carried out by foreign companies owning large wealth and resources. He said the academic economic Dr Majid Baidhani that Iraq has seen an increase in the preparation of foreign companies entering Iraq during the first half of this year compared to set up in the year 2013 and added Baidhani told (morning) that the opening of offices of foreign companies is the first step to investments within the country where the The duties of the office is to study the economic situation and the public and then seek to get deals through the conclusion of contracts to turn the office into a branch of the foreign parent company, which in turn will be active in the Iraqi economy through the implementation of various investments. According to the morning newspaper
    He pointed out that the number of branches and offices of foreign companies have seen an increase during the first half of this year compared to the same period of last year. Indicating that this period witnessed a record 216 offices for foreign companies, along with 53 branches in Iraq, while the first six months of the year 2013 saw a record 152 offices, 29 branches in addition to those companies. He stressed that this increase were not possible without that Iraq represents the investors to establish their projects, especially where he is one of the countries rich in resources and natural wealth compared to the rest of the countries in the region. Baidhani said that the global economic reports indicated the presence of sleep in the overall revenues of the budget comes in part through investments in non-oil areas.

    For his part, the head of the Union of businessmen Iraqi Reza Ragheb Blibl that the Iraqi market is promising and the purchasing power is great, and you need to be there are companies that take it upon themselves to investments in various sectors shall not be limited to the process of trade, and other business related profit Aseraa.oadav in his statement »Sabah»: The «security situation and the lack of clarity of some of the laws and the lack of an administrative efficient and transparent depends on the achievement of rapid, led to a slowdown and lack of orientation global companies toward Iraq, especially now that the security situation plays an important role in attracting foreign companies», he says.

    He stressed that investment in productive projects in Iraq weak for foreign companies, either limited to the actual orientations projects with rapid returns, such as real estate and shopping malls and trade, noting that his union work encourages partnerships between domestic and foreign companies.

    And between Blibl that the private sector would prefer that there be local partnerships with foreign, as the article (15) of the Investment Law gives privileges to foreign companies similar to the privileges of Iraqi companies similar, either because there was a partner of Iraqi nationality, the franchise will be the biggest for a foreigner, which is profitable for foreign companies include exemptions for 15 years, but he said at the same time weakening trend of foreign companies to enter the Iraqi market because of the bureaucracy and the security situation and administrative corruption, along with the movement of the Iraqi economy, which are limited to the business.

    It is said that Article (15) of the Investment Law No. 13 of 2006 stipulates: First: «The project obtained an investment license from the Commission for exemption from taxes and duties for a period of (10) ten years from the date of commencement of commercial operations in accordance areas of development defined by the Council of Ministers at the suggestion from the National Investment Commission depending on the degree of economic development of the region and the nature of the investment project, Third: The National Commission for Investment to increase the years of exemption from taxes and fees way directly proportional to increase the participation rate of the Iraqi investors in the project for up to 15 years if the Iraqi Investor share in the project more than 50 percent ».

    As for the trade agencies have said President of the Union that a large number of them went to companies global task given to companies non-Iraqi to set up its business in Iraq, in spite of the decision of the Council of Ministers, which prevent agencies for businesses overseas and to be exclusively on the Iraqi nationality, but there a slowdown in the application of laws and resolutions, calling for formation of posts during the present time.

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