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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The investment discusses activating the legal powers of those authorized by the sectoral authorities

    Rocky
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    The investment discusses activating the legal powers of those authorized by the sectoral authorities Empty The investment discusses activating the legal powers of those authorized by the sectoral authorities

    Post by Rocky Thu 10 Aug 2023, 4:55 am

    The investment discusses activating the legal powers of those authorized by the sectoral authorities and investor services
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    Baghdad today - Baghdad
    Today, Thursday (August 10, 2023), the Chairman of the National Investment Commission, Haider Muhammad Makiya, discussed the procedures for activating the powers of representatives of the single window departments and departments and investor services in ministries and government institutions.
    And the authority’s media stated in a statement received by “Baghdad Today”, that “the president of the national commission stressed, during his presidency of the meeting, in the presence of the Director General of the Single Window and Investor Services Department in the commission, Zuhair Shaker, and the participation of representatives and authorized persons of the sectoral authorities in the investment and window departments in ministries and other institutions, the need to speed up procedures related to obtaining approvals for investment projects and simplifying them in front of companies and investors and in accordance with the governing laws.
    According to the statement, the Chairman of the Authority explained, “The mechanisms to address the challenges and problems facing the investment sector, especially those related to granting approvals from the sectoral bodies that own the land, including adherence to the legal paragraphs and materials that control the administrative path and the fundamentalist contexts for obtaining approvals within the specified time periods and as stated in Article (20). Secondly, a) of Investment Law No. (13) of 2006, as amended.
    And he indicated, “Article (20) is clear and stipulates that the National Investment Commission, through the single window, shall approach the sectoral authorities through their authorized representatives regarding obtaining their approval on the investment project, and those authorities must issue their decision of approval or rejection or a request for amendment within a period of (15) fifteen years. days from the date of its notification, and the representative of the government agencies is obligated to obtain the answer within that period, and the failure to respond from the authority from which the opinion is requested during the above period is considered approval, and in the event of refusal, it must be reasoned.
    The Chairman of the Commission continued, "Investment is a vital tributary for financing the budgets of developed countries, and we are working to establish the elements of an attractive and ideal environment for investment in Iraq through facilitated procedures in accordance with modern and automated systems and initiating strategic steps towards vital projects in various sectors at the level of the capital, Baghdad, and all governorates."  
    For his part, the Director General of the Window and Investor Services Department, Zuhair Shaker, confirmed that "his department is keen on continuous communication with the authorized persons in the various sectoral authorities to discuss the challenges and problems facing the procedures within the limits of observing the legal period, non-delay, and the nature of the problem that prevents the approval or response of the sectoral authority."
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