Babylon Investment: 40% of the investment licenses, one of them stopped working because of Indians

Babylon Investment: 40% of the investment licenses, one of them stopped working because of Indians



Author: IM

Editor: AB, BS

05/09/2014 13:25

Long-Presse / Babylon

Revealed the investment in the province of Babylon, on Friday, that 40% of the investment licenses, amounting to 70 investment license "parked", and as confirmed the absence of clear law concerning investment and the lack of investors competent, indicated that the province in dire need of these projects.

The vice president of the Investment Commission of Babylon on behalf of Obeis Janabi said in an interview to the (long-Presse), said that "40% of the investment projects which were awarded in 2008 and reduce the day, amounting to 70 project lagging behind or pulled their licenses, because of the lack of law and clear respect to investment, and the lack of qualified investors, in addition to the overlap between the ministries and the deadly routine. "

He added that al-Janabi, "Babil province in dire need of these projects," noting that "the Commission granted an investment license in 14 different sectors, and the executive government received with great interest and has made utmost efforts to Tivha."

He said Chairman of the Investment Commission of Babylon that "the Investment Commission of Babylon awarded eight licenses investment in housing, what has been implemented on the ground successfully is complex Kawthar in hand dad drowned, and the second project is a project of the hills of Babylon, which is one of the important projects, which stopped due to a number of of problems, and the license has been withdrawn from the investment company executed and returned to the original company. "

He said al-Janabi said that "there are 11 investment license is not signed their contracts, because of the visions is obvious by the ministries and the Ministry of Finance, of which nine were awarded Block coefficient vacation investment two years ago but did not sign the contract until now."

And between al-Janabi said that "success rates of projects built on private land more than 95%, while the rates of completion of projects built on Ground State 60%, due to the deadly routine followed by the state departments winner of the ownership of the land," calling ministries "to give authority to the directors of departments in the provinces, in order to take important decisions for the development of investment in the province. "

He said al-Janabi said: "There will soon sign contracts involving several projects, including the development of Oasis and development lab for the Lion of Babylon Trmeston and tomato paste plant project, and the tourist resort of Babylon on the banks of the Shatt al-Hilla, opposite the Corniche."

He added that al-Janabi, "iron and steel plant in terms of avant-garde turned off, because the central government's decision to deport foreign labor," noting that "the project is one of the important projects and most of its workers from the Indians."

It is noteworthy that the Investment Commission of Babylon, founded in 2008, under the Iraqi Investment Law for the year 2006, in order to give a variety of investment licenses in all sectors and provide jobs for thousands of people of Babylon and the introduction of advanced technology and modern techniques.

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