[size=41]A parliamentarian reveals a movement to amend the investment law... many loopholes[/size]
3 hours ago
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A member of the Parliamentary Investment and Development Committee, Hussein Al-Sabari, revealed a parliamentary move to amend the investment law, while stressing that the amendment will be consistent with addressing the problems existing in the current law.
Al-Saabari said in a press interview seen by “Taqaddam” that “promoting investment inside Iraq requires many solutions to all legislative problems and the maturity of laws that are in harmony with the investment progress witnessed by countries around the world,” noting that “there are many gaps that require solutions to be found.”
He continued, “One of the main reasons that led to weak investment in the country is the executive departments and relevant ministries in terms of delay in completing permits,” pointing out that “the issue of delay hinders the progress of foreign investment in Iraq.”
The Chairman of the Amendment Committee for the Investment Law concluded his speech, saying: “The amendment will be made in a manner consistent with addressing the problems present in the current law,” adding that “granting licenses in Iraq may be delayed for up to a year, while some developed countries have reached the point of granting investment licenses within 48 hours.” Just".
Iraq suffers from a scarcity of investments as a result of: There are several reasons behind this imbalance, including the wars that Iraq fought, as well as the lack of interest of governments in the investment file and creating an attractive environment for foreign investors, in addition to relying on old methods of granting vacations in Iraq.
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