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The Investment Authority: Corruption groups obstructed investment activity due to loopholes in the laws
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Economy News - Baghdad
The head of the National Investment Commission, Suha Al-Najjar, revealed the obstacles to attracting investments, while noting that the current laws made it possible to exploit the loopholes they contain by (corruption groups) and led to the obstruction of investment activity in Iraq .
Al-Najjar said in an interview with Al-Sabah newspaper, "The National Investment Authority has strived to overcome the obstacles that stand in the way of attracting international companies, and it has succeeded in some of them, and there are some issues that require more time, represented by the lack of infrastructure such as roads, transportation, ports, airports, electric power, and other requirements." which are attractive points for investments .
Al-Najjar clarified that "the obstacles do not stop at the boundaries of roads and transportation, but also include legal obstacles that require finding solutions to some of the intersections between the investment law and other laws, regulations and instructions related to investment, as well as putting the investor in a difficult environment for some observations of violence." The appropriate banking and financial services for the success of the investment process, which should keep pace with the developments taking place in similar countries in the world .”
The head of the authority indicated that "the obstacles to attracting investments are linked to each other, and despite the existence of a clear vision that the authority is working on in order for there to be international investment companies presenting their projects to the country, however, a number of loopholes and intersections are included in Investment Law No. ( 13 of 2006 (amended) impedes achieving this .”
Al-Najjar revealed , "The current laws have made it possible to exploit the loopholes they contain by (corruption groups) and have obstructed investment activity in Iraq. Its ineffectiveness with practical experience over the past thirteen years, especially with regard to the mechanisms for granting customs exemptions and lands suitable for investment, which represented the biggest problem in front of attracting investments.
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Added 08/28/2022 - 11:19 AM
Update 08/28/2022 - 12:16 PM
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Chairman of the Investment Authority, Suha Al-Najjar
Chairman of the Investment Authority, Suha Al-Najjar
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Economy News - Baghdad
The head of the National Investment Commission, Suha Al-Najjar, revealed the obstacles to attracting investments, while noting that the current laws made it possible to exploit the loopholes they contain by (corruption groups) and led to the obstruction of investment activity in Iraq .
Al-Najjar said in an interview with Al-Sabah newspaper, "The National Investment Authority has strived to overcome the obstacles that stand in the way of attracting international companies, and it has succeeded in some of them, and there are some issues that require more time, represented by the lack of infrastructure such as roads, transportation, ports, airports, electric power, and other requirements." which are attractive points for investments .
Al-Najjar clarified that "the obstacles do not stop at the boundaries of roads and transportation, but also include legal obstacles that require finding solutions to some of the intersections between the investment law and other laws, regulations and instructions related to investment, as well as putting the investor in a difficult environment for some observations of violence." The appropriate banking and financial services for the success of the investment process, which should keep pace with the developments taking place in similar countries in the world .”
The head of the authority indicated that "the obstacles to attracting investments are linked to each other, and despite the existence of a clear vision that the authority is working on in order for there to be international investment companies presenting their projects to the country, however, a number of loopholes and intersections are included in Investment Law No. ( 13 of 2006 (amended) impedes achieving this .”
Al-Najjar revealed , "The current laws have made it possible to exploit the loopholes they contain by (corruption groups) and have obstructed investment activity in Iraq. Its ineffectiveness with practical experience over the past thirteen years, especially with regard to the mechanisms for granting customs exemptions and lands suitable for investment, which represented the biggest problem in front of attracting investments.
Views 13
Added 08/28/2022 - 11:19 AM
Update 08/28/2022 - 12:16 PM
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