Claims to activate investment laws for free zones
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Baghdad: Emad Al-Emirate
Specialists in economic affairs urged the need to activate investment laws and legislation and adapt them to the work of free zones, stressing the importance of these laws including a package of tax and customs exemptions related to the work of the private sector in order to stimulate its commercial, industrial and agricultural activities, while calling for intensifying joint communication And coordination between the Public Authority for Free Zones, border crossings, customs, taxes and transportation to overcome obstacles facing investors and businessmen.
The Board of Directors of the General Authority for Free Zones held its periodic meeting recently, during which it discussed with the department managers ways to achieve the paragraphs of the government program and the completion rates in related projects, while the Director General Munther Abdul Amir Asad directed the department managers to expedite practical steps to automate the work procedures of the authority. According to the approved standards, stressing the need to implement the Prime Minister's directives to work on the campaign (Baghdad is more beautiful).
The importance of free zones, according to the specialist in economic affairs, Dr. Muzaffar Hosni, is represented in the revitalization of many economic facilities in the country, which necessitates the need to develop these zones and exploit them to serve the interest of the country by activating regulations and legislation for investment in free zones, in line with global economic developments.
Dr. Hosni urged the importance of preparing instructions that facilitate the work of investors in those areas, and making amendments to the laws currently in force in a manner that parallels developments in the Iraqi economy and the international situation in the field of freedom of trade and investment and the movement of capital in the world, stressing interest in infrastructure projects for the regions. In addition to revitalizing industrial investment, as it constitutes an important basic pillar in the field of investment, as it comes first and foremost over other activities.
The spokesman called for opening new horizons between the various parties for dialogue and coordination in order to avoid conflicts between the procedures of the official authorities present in those areas, and to seek to activate laws that would facilitate attracting investors and overcoming their procedures related to the import of goods and materials.
Hosni also stressed the necessity of activating the work of the traffic trade (transit), due to the distinguished geographical location that Iraq and its free zones enjoy, which made it a vital economic corridor for many goods and merchandise, pointing out that this feature can support Iraqi ports and the transport sector in addition to other sectors. .
For her part, a member of the administrative body of the Iraqi Economists Association, Dr. Ikram Abdel Aziz, said that there are some obstacles in free zones that need to be addressed, which is the lack of experience in managing free zones (as she said), as this experience is new to the country with the lack of free zones. To a developed banking system and the presence of marketing problems represented in the inability of private projects belonging to local companies to market their products internationally due to the competition of the products of developed countries with the products of Iraqi free zones in terms of quality and prices and the lack of advertising and promotion methods. Abdulaziz added,
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