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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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    Incentives and exemptions.. Iraq offers privileges to investors

    Rocky
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    • Post n°1

    Incentives and exemptions.. Iraq offers privileges to investors Empty Incentives and exemptions.. Iraq offers privileges to investors

    Post by Rocky Thu 28 Nov 2024, 6:36 am

    Incentives and exemptions.. Iraq offers privileges to investors

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    Economy News - Baghdad
    The Prime Minister's Advisor for Industry and Private Sector Development, Hamoudi Al-Lami, announced today, Thursday, that the government has taken decisions granting privileges to investors, while he indicated that the facilities include granting tax exemptions.
    Al-Lami said in a speech at the Greek-Arab Economic Forum in Athens, "After the formation of the current government two years ago, headed by Prime Minister Mohammed Shia al-Sudani, one of Iraq's priorities was to support the industrial sector, and the government began to implement this promise it made," noting that "the government took decisions, including activating Investment Law No. 13 of 2006, and additional amendments were made to it to grant more privileges to investors."
    He explained that "the government has taken decisions, including forming committees to grant incentives and privileges to investors and guarantees for investment," noting that "foreign investors have the right to lease industrial lands for a period of 50 years, subject to extension."
    Al-Lami said, "Iraq has great opportunities for investment, especially after the security stability, and the Arab brothers had a major role in activating various sectors in Iraq and they are now spread across all Iraqi provinces," stressing that "Iraq is now witnessing a renaissance in activating sectors, and there are investment opportunities that were offered two months ago and will be followed by other opportunities that will be announced soon."
    He continued: "Iraq has a great wealth of minerals that is more important than oil, as oil is now suffering from some disturbances due to the political situation, the environment and carbon emissions," explaining that "Iraq has begun to invest in the great wealth of minerals as it has 10 billion tons of phosphate rocks that are used in the phosphate industry and phosphate fertilizers, which have become in great need due to the increasing demand for food that requires agriculture, which in turn requires fertilizers."
    He added that "any production of the phosphate industry is accompanied by uranium production, and the investor can use the uranium to produce energy or sell it to power plants," noting that "the National Investment Law began with simple and specific investments in the construction sector and has now shifted to investment in the industrial sectors (chemical and petrochemical)."
    Al-Lami stated that “the investor obtains full tax exemptions for importing production line equipment and raw materials.”


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