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Demands to establish commercial arbitration centers that attract investment
Economical 2023/01/22
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Commercial arbitration is the most important gateway to attracting international investments due to its flexibility in overcoming the problems that accompany the implementation of business in all sectors, and the acceptance of its results from all parties operating in the local labor market. Vice-President of the Baghdad Chamber of Commerce, Muhammad Abd al-Sattar al-Baghdadi, said: “The activation of the investment reality necessitates the presence of commercial arbitration centers that operate according to internationally and regionally approved systems and represent one of the most important requirements for the advancement of the Iraqi economy, and under the supervision of local and international experts who have great experience in this important joint, for their role in the smooth flow of Completion of work and not being subject to interruption due to problems that may accompany the implementation of projects.
He pointed out in an interview with "Al-Sabah" that "commercial arbitration is one of the elements of achieving sustainable economic development and containing all the problems facing the important economic sectors in the country.
And Al-Baghdadi indicated that "the specialized global effort indicates the extent to which commercial arbitration methods are applied in Iraq, in order to help in drawing up their future policy aimed at achieving economic feasibility for both parties to the process." He also works to address problems that arise in all economic sectors quickly without the need to go to to court to solve it.
And he indicated that "the country is in dire need to create an attractive environment for international effort in light of the current circumstances in which the country is living, which requires serious work to provide an appropriate environment that attracts investment." Economic circles have called for work on transferring global experiences that have proven to be very successful in this aspect, and work on importing them to the country in order to employ them in the service of the country's economy, which can achieve a big boom by employing human and natural wealth in directions that achieve
Feasibility.
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