Parliamentary Economy: Investment Law Amendment encourages the housing sector and addresses its obst

Parliamentary Economy: Investment Law Amendment encourages the housing sector and addresses its obstacle

[You must be registered and logged in to see this image.]

Citizen - Baghdad Parliamentary Economy: Investment Law Amendment encourages the housing sector and addresses its obstacles

Member of the committee of economy and investment parliamentary Najiba Najib confirmed "that the amendment of the Investment Law includes housing sector, encourage investment, and addresses the obstacles facing investors.

She said Najib in an interview: "The solutions and treatments for the housing crisis is not at the required level, as we have seen these problems and Chksnaha in the investment conference, which was held last February, and amended investment law certainly to encourage investment in the housing sector because it is very important."

She explained, "it was the introduction of several amendments to the Act, relating to the inclusion of legal texts to finance housing projects, provided that the interest-free to be able to firms investing in the housing sector of the success of their projects."

She Najib said the "legislation of the new investment law, will address problems that have been investing in the housing sector, including the issue of land, which was repulsive to companies, whether foreign or domestic work in the housing sector, as it has been addressed obstacles facing investment this sector, in terms of funding, decentralization, as well as an end to the routine in the land question, and address those problems related to the allocation of land to the companies. "

She added that he "did not specify a certain date by the House of Representatives to end the housing crisis, as the role of regulatory and legislative, and as legislation tackled problems that were hindering the success of these issues, and with respect to the oversight role, we are continuing supervisory our part with the Investment Authority, and fund housing and reconstruction."

Najib stressed "the need to have the biggest support fund for housing", pointing out that "one of these processors, approve the Fund by the Central Bank, to be able to grant loans to citizens to build housing for them."

The Central Investment Committee, approached the 23 of last April, donors of the land arising out of investment projects transfer of ownership of this land to the investor in accordance with the Investment Law.

A press statement by the Ministry of Construction and Housing: "The Undersecretary Dara Hassan Rashid Yara, attended a meeting of the Investment Committee Central to discuss and study the contracts signed with investors and the emphasis on the payment of the amounts owed to them, explaining that he has during the meeting, discussing and approaching donors of the land arising out of investment projects to transfer the ownership of the land to the investor in accordance with the Investment Law and according to the instructions the National Investment Commission, that the investor submit a written undertaking that includes continuing to operate the project without delay to be done according to time and not to claim any compensation or wages in the case of non-registration of the land in his name for any reason. "

He was a member of the Committee on Economy and Investment parliamentary Ahmed Kanani said early April that "the amendment of the Investment Law, addressed the issue of the completion of the investor of the project by 25%, and take a loan from the government and the official bank bail the project, shall be 25% [completion rate] guarantor, either personal guarantees do not depend on the descent. "

He explained Kanani in an interview: "The nature of dealing with the investor when the come in the past, had difficulty procuring investment license and the earth from other ministries, and this shortened within edited several paragraphs for the purpose of obtaining the land as soon as possible, as it was in the past many paragraphs and now a shortcut for the purpose of speed."

The Deputy Chairman of the Committee of Economy and Investment parliamentary Harith al-Harthy, in 20 of last March, that the amendment of the investment law, investors will be in service, and the elimination of standard routine in the state dealing with investors circles.

Iraq News Portal - Source: Citizen New

[You must be registered and logged in to see this link.]