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Economic Adviser to the Prime Minister: the mentality that leads to invest in Iraq, does not believe in investing
2/25/16
BAGHDAD / obelisk: economic adviser said the prime minister Abdul Hussein Al-Anbuge, Thursday, that Almtsidin investment bodies are not specialists, and in the time that said they look only to their own interests, he noted that Basmaja project turned into a contract with the government.
He said Anbuge, "All Almtsidin in investment bodies or most of them in Iraq, they are not with the competence in economic and financial areas, as they do not understand how they mix output elements with each other and therefore, they do not think the economic profit and revenue that is recognized on a macroeconomic level," noting "all projects and even Basmaja project turned into a contract with the government because of this mentality."
He Anbuge that "mentality that leads to invest in Iraq, does not believe in investing, where it has a way of management regarding the government system and a socialist, and they look to their personal interests, and therefore there can not be investors in Iraq unless there is a favorable environment for investment and good people believers and honest," stressing the need to "reconsider all bodies of investment and workers in it."
He Anbuge there was "no solution to the financial crisis in Iraq, but to invest in all kinds either directly coming through Iraqi investors or projects or foreign indirect investment through Iraq's financial market."
And Iraq's parliament approved in October 2006 Iraqi investment law, but that many foreign companies are still hesitant because of fear of the security reality unstable in Iraq, in addition to the presence of some non-attractive investment paragraphs Despite the amendment to the law in 2010.
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2/25/16
BAGHDAD / obelisk: economic adviser said the prime minister Abdul Hussein Al-Anbuge, Thursday, that Almtsidin investment bodies are not specialists, and in the time that said they look only to their own interests, he noted that Basmaja project turned into a contract with the government.
He said Anbuge, "All Almtsidin in investment bodies or most of them in Iraq, they are not with the competence in economic and financial areas, as they do not understand how they mix output elements with each other and therefore, they do not think the economic profit and revenue that is recognized on a macroeconomic level," noting "all projects and even Basmaja project turned into a contract with the government because of this mentality."
He Anbuge that "mentality that leads to invest in Iraq, does not believe in investing, where it has a way of management regarding the government system and a socialist, and they look to their personal interests, and therefore there can not be investors in Iraq unless there is a favorable environment for investment and good people believers and honest," stressing the need to "reconsider all bodies of investment and workers in it."
He Anbuge there was "no solution to the financial crisis in Iraq, but to invest in all kinds either directly coming through Iraqi investors or projects or foreign indirect investment through Iraq's financial market."
And Iraq's parliament approved in October 2006 Iraqi investment law, but that many foreign companies are still hesitant because of fear of the security reality unstable in Iraq, in addition to the presence of some non-attractive investment paragraphs Despite the amendment to the law in 2010.
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