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Academy: legislation investment laws contribute to the resettlement of local funds
17/10/2016 0:00
[rtl]BAGHDAD / Imad emirate
require a phase through which Iraq is taking measures to encourage the return of capital flight and the treatment of the problems facing resettlement of local money or attract inward through the laws of economic and investment regulations that ensure local and foreign investor rights and paint a legal relationship in line with the local environment and data legislation new World Order.
on this subject saw the Academy Dr. Abeer Mohammed Jassim, said the support and development of domestic investment sector and the development of regulations for local corporate investment is an important factor in the return of migratory capital.
She called Jassim in an interview for »morning» to the economic management of the state have a strong influence in the end all the problems that stand in the way investor Kalajraat routine in the completion of transactions required for its projects and investment requirements, as well as facilitate the privatization measures in the public sector and state - owned joint stock companies.
she said the clarity and transparency, especially in the financial market, provide confidence to the investor home or abroad because they Aattiyan true picture of thereality of the investment, citing the need for attention to technology development in all economic activities and keep up investment activity requirements and the provision ofbank financial organs advanced with work on the development of investment formulas in the domestic banks in order to achieve investment growth in Iraq.
She said the phenomenon capital flight, in general, pose a negative impact on the growth of developing countries ' economies, which represents the capital the most prominent production elements and reliable GDP significantly, hence the exodus of capital is thedecline of the contribution of foreign capital in the gross domestic product, and when theforeign currency is used to fund the transfer of capital abroad, the operations of thelevels of imports will be affected , whether the imports capitalist or intermediate and this negatively affects the gross domestic product as well.
the show may be the effect of the transmission of capital abroad dangerous in times ofcrisis, the economic crises entail more migration of capital, and to reduce of this phenomenon has to be a raft of measures to adjust the monetary policy tools.
it confirmed Jassim need to take advantage of the phenomenon of slowing global economic growth and low external ROI and fears a freeze on assets overseas and employ them in the return of Iraqi funds, pointing out that the return of all the money from foreign countries is rapidly the automatic is difficult, because of the large migratory money size and diversity of investments between the short, medium and long term, inaddition to the restrictions set by foreign countries on that money, which requires theexploitation of political relations between the countries and this requires suitable to attract these funds in an orderly and gradual mechanisms.
It concluded Jassim to say that: operations re - migratory funds require investment climate appropriate to improve the rates of economic growth and raise the level ofefficiency of the management of all branches of economic activity saving, reduction of the budget deficit by emphasizing spending, taking into account the lack of a sharp reduction in public spending because it leads adversely affect private investment, and thus reduces spending on public infrastructure and productive sectors, and finally focus on the oversight role of banks and financial institutions , which include minimum monitoring capital adequacy and addressing credit concentration limits for lending toshareholders and determine the liquidity ratio in addition to activating the anti -laundering laws money.[/rtl]
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