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Prices and flexibility... axes at the top of the upcoming amendments to the investment law
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Baghdad today - Baghdad
Today, Tuesday (July 25, 2023), the Parliamentary Investment Committee revealed the most important negative points and reservations recorded on the investment file in Iraq, while indicating its tendency to amend the investment law in a way that affects the flexibility of dealing with investment opportunities as well as prices.
Committee member Muhammad al-Ziyadi said in an interview with "Baghdad Today", that "there is dissatisfaction with the investment file in Iraq as a whole, for many reasons, most notably the lack of clarity in the investment law with its dimensions that preserve the status of the investor and the beneficiary at the same time."
He pointed out that "for example, housing projects cannot enter the sectoral departments in the supervision file to follow up on durability and technical quality, not to mention the inability to set prices that have reached unrealistic levels in Baghdad and the provinces."
He added, "The important point is the bureaucracy of the ministries in dealing with investment, especially the financial one, which is unfortunately hampered by the adoption of laws that are not compatible with the current situation in the investment file."
He pointed out that "his committee is currently working on amending the investment law by unifying the visions between the ministries according to mechanisms that give more flexibility to all parties and at the same time accommodate the solutions presented in the price file directly.
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