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Parliamentary Investment Committee holds meetings to amend Iraqi Investment Law
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Member of the Parliamentary Investment Committee, Asaad Al-Bazouni, said today, Friday, that consultative meetings will be held to amend the investment law in the country.
Al-Bazouni said, "The Parliamentary Investment Committee is working on amending the investment law, especially with regard to industrial investment, and discussing its provisions through large advisory sessions, especially since Iraq is now heading towards the private investment sector. Therefore, there is a need for the law to be suitable for the Iraqi environment and for investors from other countries."
He added that "work is underway on the law because it is of great importance in the field of investment, especially since Iraq needs investment because Iraq currently relies on oil and other simple resources," indicating that "by activating investment and the private sector, there will be other doors for Iraq's return," and he explained that "the budget now has a large deficit and the decline in oil prices is declining and putting us in a big problem, especially since the budget was calculated on the basis of $60 per barrel."
He pointed out that "dependence on oil resources causes us major problems and we must depend on more than one resource. Iraq is capable in its industry, agriculture, investment and lands, and we need to provide a safe and suitable environment for economists, foreign investors and major international companies."
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Added 08/09/2024 - 4:50 PM
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Member of the Parliamentary Investment Committee, Asaad Al-Bazouni, said today, Friday, that consultative meetings will be held to amend the investment law in the country.
Al-Bazouni said, "The Parliamentary Investment Committee is working on amending the investment law, especially with regard to industrial investment, and discussing its provisions through large advisory sessions, especially since Iraq is now heading towards the private investment sector. Therefore, there is a need for the law to be suitable for the Iraqi environment and for investors from other countries."
He added that "work is underway on the law because it is of great importance in the field of investment, especially since Iraq needs investment because Iraq currently relies on oil and other simple resources," indicating that "by activating investment and the private sector, there will be other doors for Iraq's return," and he explained that "the budget now has a large deficit and the decline in oil prices is declining and putting us in a big problem, especially since the budget was calculated on the basis of $60 per barrel."
He pointed out that "dependence on oil resources causes us major problems and we must depend on more than one resource. Iraq is capable in its industry, agriculture, investment and lands, and we need to provide a safe and suitable environment for economists, foreign investors and major international companies."
142 views
Added 08/09/2024 - 4:50 PM
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