Bander: Iraq and promising economic environment

by Lobo Sun 13 Sep 2015, 5:34 pm

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Join date : 2013-01-12

Post n°1

Bander: Iraq and promising economic environment

by Lobo Sun 13 Sep 2015, 5:34 pm

Bander: Iraq and promising economic environment

9/13/2015 0:00 BAGHDAD joy pumice

Iraq is the economic environment and a significant investment and promising, especially if he went to the provision of infrastructure and services that can be provided by international and local investors. It confirms Director General of the Economic Department at the National Investment Authority d. Abdullah al-Bandar, the amendments made by the Board on the investment law in cooperation with the coordinating committees in the House of Representatives will be a catalyst to drive the investment process in Iraq. And witnessed the Investment Law No. (31) for the year 6002 to make some amendments to paragraphs and materials, which is likely to approve the next two days according to what was confirmed by the Chairman of the Parliamentary Commission of Economy and Investment Jawad al-Bolani »Sabah». Bandar said in a statement »Sabah»: that «after four years experience of the application of the Investment Law, the Investment Authority sensed the presence of a number of shortcomings that need to be amended and the legislation in order to push the promotion process and the process of investor service by modifying some of the paragraphs and articles of law».

He the most important amendments which were taken into consideration in the new version of the law amending some legal and investment aspects, for the purpose of implementation of the programs, and how to implement a promotional plan and support the investor, as well as put the developers in the safe investment zones of very important factors contained in the amendments, where he read the first reading . She stressed the economic and investment commission earlier on investment public and private quality and the need to facilitate procedures for investors, especially in the side to which the governmental procedures and reduce routine matters, calling for a genuine partnership with the private sector and be given great importance, especially in investment projects .oroy-Bandar said the new amendments the investment law, will lead to making Iraq a promising environment to attract investment, but it depends on the investment climate in the country, indicating that the economic, political and social conditions are still important factors in attracting foreign investment and developing domestic investment. He explained that the new law will include administrative and technical adjustments, what constitutes a factor supporting the investment process to push forward, urging the government to pay attention to this aspect in giving the role of the private sector, especially local and therefore there will be high rates of investment in Iraq. It is said that Chairman of the Investment Authority d. Sami al-Araji, said in an earlier meeting with the economic and investment commission in Parliament that the second draft amendment to the law written based on the first two factors is to try to avoid the problems and constraints that have emerged during the implementation of the law since its entry into force until today, and secondly is to keep pace with global developments and try to create a law is able to compete with the region's laws and even the world to ensure attract investors.

It was agreed at the meeting on several provisions that will increase the size of the powers of the Iraqi ministries to invest its resources in the investment side, in addition to include the draft law some mechanisms in place for the first time, including arbitration and the Union of investors and an end to the problem of ownership of land and methods of granting investment .

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by **Proven** Sun 13 Sep 2015, 5:42 pm

Proven

Proven: NNP TEAM; Posts : 1858
Join date : 2012-12-21

Post n°2

Re: Bander: Iraq and promising economic environment

by Proven Sun 13 Sep 2015, 5:42 pm

A few highlights:

in the House of Representatives will be a catalyst to drive the investment process in Iraq. And witnessed the Investment Law No. (31) for the year 6002 to make some amendments to paragraphs and materials, which is likely to approve the next two days according to what was confirmed by the Chairman of the Parliamentary Commission of Economy and Investment Jawad al-Bolani

He explained that the new law will include administrative and technical adjustments, what constitutes a factor supporting the investment process to push forward, urging the government to pay attention to this aspect in giving the role of the private sector, especially local and therefore there will be high rates of investment in Iraq.