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21-October-2023
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[ltr]INVESTMENT CHALLENGES IN IRAQ (FACEBOOK)[/ltr]
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[ltr]INVESTMENT CHALLENGES IN IRAQ (FACEBOOK)[/ltr]
On Saturday, October 21, 2023, the National Investment Authority reviewed the most important problems of the investment sector in Iraq.
In [You must be registered and logged in to see this link.] seen by Ultra Iraq, the Authority pointed out “some of the challenges facing investment work in general” and stands in the direction of “strengthening the Iraqi investment sector.”
She explained that the most important of them are:
The Authority said that the delay (in the last point) occurs “despite the amended Investment Law No. (13) of 2006 obligating all government agencies after the issuance of the investment license to cooperate with the Authority to complete the requirements for starting the investment project within a period of (30) days from the date of issuance of the license.”
The Commission also spoke about what is required for the success of investment, which is first, “providing land with a stable economic environment,” indicating that “most of Iraq’s governorates are characterized by these indicators, with the identification of some challenges,” as “investment in governorates is characterized by each governorate gaining a specific identity, including agricultural identity.” industrial and others.
[You must be registered and logged in to see this link.]
In [You must be registered and logged in to see this link.] seen by Ultra Iraq, the Authority pointed out “some of the challenges facing investment work in general” and stands in the direction of “strengthening the Iraqi investment sector.”
She explained that the most important of them are:
- Lack of land allocation.
- The lack of accurate surveys by some ministries and sectoral agencies regarding the lands belonging to them.
- Lack of water shares for agricultural projects.
- Weak financing of private banks.
- Delay in the sectoral authorities’ response to the National Authority’s approaches regarding obtaining the necessary approvals for the investment project.
The Authority said that the delay (in the last point) occurs “despite the amended Investment Law No. (13) of 2006 obligating all government agencies after the issuance of the investment license to cooperate with the Authority to complete the requirements for starting the investment project within a period of (30) days from the date of issuance of the license.”
The Commission also spoke about what is required for the success of investment, which is first, “providing land with a stable economic environment,” indicating that “most of Iraq’s governorates are characterized by these indicators, with the identification of some challenges,” as “investment in governorates is characterized by each governorate gaining a specific identity, including agricultural identity.” industrial and others.
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