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is discussing with the World Bank amendment and correction of the private sector laws
Posted 10/03/2013 01:14 PM
Babinaoz - agencies: Committee discussed the economic development in the province of Basra, Sunday, with the World Bank amendment and correction of laws and regulations that stand in front of the development of the private sector. Committee Chairman Mahmoud Almksusi he "discussed with a World Bank delegation headed by Steven Rimmer, a specialist oldest in the development of the private sector amend some laws and regulations that stand in front of the development of the private sector and the banking sector." And between Almksusi that "there will be moves to provide procedures and withdrawal of capital that operate abroad and the introduction of e-government and the use of smart card and activate the role of private insurance companies and educate citizens in the province of Basra on the mechanism of light industry." The Iraqi parliament approved in October 2006 Iraqi investment law, which was said at the time that it would open the doors to foreign investment, for providing a lot of facilities to foreign investors. However, many foreign companies are still hesitant because of fear of actually unstable security in Iraq, adding that the law did not give investors the right ownership of the property for the project, and equated the Iraqi investors and foreign each privileges, except real estate ownership, as can a foreign investor from renting land for 50 years, renewable, according to paragraph 11 of the Investment Law.
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Posted 10/03/2013 01:14 PM
Babinaoz - agencies: Committee discussed the economic development in the province of Basra, Sunday, with the World Bank amendment and correction of laws and regulations that stand in front of the development of the private sector. Committee Chairman Mahmoud Almksusi he "discussed with a World Bank delegation headed by Steven Rimmer, a specialist oldest in the development of the private sector amend some laws and regulations that stand in front of the development of the private sector and the banking sector." And between Almksusi that "there will be moves to provide procedures and withdrawal of capital that operate abroad and the introduction of e-government and the use of smart card and activate the role of private insurance companies and educate citizens in the province of Basra on the mechanism of light industry." The Iraqi parliament approved in October 2006 Iraqi investment law, which was said at the time that it would open the doors to foreign investment, for providing a lot of facilities to foreign investors. However, many foreign companies are still hesitant because of fear of actually unstable security in Iraq, adding that the law did not give investors the right ownership of the property for the project, and equated the Iraqi investors and foreign each privileges, except real estate ownership, as can a foreign investor from renting land for 50 years, renewable, according to paragraph 11 of the Investment Law.
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