Hafiz: the success of the reform depends on the provision of legal basis

1/11/2016 0:00

BAGHDAD Shokran Fatlawi

called elite of financiers, economists and law to the need to make reforms previous legal systems being a Ataatmacy with the desired national development process in the country accompanied by their inability to respond to the current needs as well as the lack of compatibility with this major shift in the world, warning the situation continues this way under the economic crisis the country is experiencing.

meet the challenges

that came during a symposium organized by the «Institute of the progress of the development policies» under the title »reforms and legal framework» which began with a speech by the Director of the institute d. Mehdi al-Hafez between which is not possible to separate the reforms of the legal path, pointing out that the two issues are interconnected in a manner not allowed to succeed reform in any field without provide the legal basis to him and make it turn any reform prospective.

He added that the international aid is the other intervention in this context it needs to be based on Local and clearly designed to protect them and make them more responsive to national needs, noting that the country faces a series of challenges that require legal reforms as well as a series of international agreements require easy transactions in terms of implementation and the achievement of the target.

amendment of the Investment Law

legal expert Hadi Aziz Ali said

«morning» on the sidelines the symposium that the prevailing investment law suffers flaws, noting the importance of compatibility with the State directed toward a market economy, adding that the eastern European countries, after landslides which passed out, went to a market economy through the enactment of legislation that is consistent with the requirements of the new phase. He pointed out that the investment law did not take into consideration the prevailing laws that took place in contradiction with procedural law and civil law what the legislature was forced to modify it more than once, pointing out that the investment law need a new reading and re-view of the new order to be in tune with the trend State towards a market economy, stressing the existence Off for investment and reform and the development of economic resources in a number of laws and legislation texts. In turn, said banking expert conciliator Hasan Mahmud said the Banking Act suffers problematic emerged when applying the law as it is in Article 28 and the so-called prohibited activities.

He said that the central bank to prevent, on the basis of this article, banks from investing in the shares of joint stock companies, explaining that the legislator did not not intended this ban Mazhb him, but the central bank in order to prevent them from exercising any work directly is banking. Crisis Solutions For his part, economist d. Zhiralhassana to the need to move to the stage of solutions to the crises in the fact that the country is going through an economic and financial crisis sharp require boldness and ability to access decision-making positions, pointing out that many people now feel the futility of these proposals on the economic movement and find solutions to them. And the importance of taking urgent measures to cope with the crisis by activating The four laws of the protection of the product and the consumer, transparency and customs tariff and begin the national production, stressing that the move to national economic machine guarantor run the manpower and reduce corruption caused by phantom imports which does not need her country. He added that the activation of the role of the private sector sponsor is the other provision of the budget deficit resources Instead of continuing dependence on oil, which is suffering a decline in global markets. In the same context, said d. Abdullah al-Bandar »Sabah» that leadership in the private sector and its decision-making independently of any government in isolation from government support sponsor its success. He noted that the country needs a strong private sector and promote its burden Paz that there be a participatory role with the government initially, explaining that the effect would be a great first when the commander is for real economic activities and projects to compensate for the large imports that drain currency. He said the country needs a national industry competition to meet the needs of the community, led by the private sector, who was known for his in some as an industry dairy industry, light industry and auto industries, but faded and become all of those materials imports one hundred percent of the neighboring countries and the migration of funds abroad because of the lack of an active private sector in Iraq.