Free zones over the outcome of the state's foreign currency

Free zones over the outcome of the state's foreign currency

02/07/2013 12:00 AM

As an engine dynamically to the country's economy
BAGHDAD - morning
is free zones factor employed by states to attract and encourage foreign investment, national, so why offer those areas of the facilities and privileges كالحوافز tax and customs and labor are relatively cheap enables companies
invested in increasing their competitiveness and thus achieve a greater return her
.
and Free Zones are areas located within the borders of the state geographical and under the full sovereignty, and allow those areas over imports without fee كمركية also allow for re-export after some operations of goods semi-processed.

It is important to know that the free zones differ from free markets in the recent a places are sold consumer goods complete manufacturing of individuals crossing the airports and ports in different countries, whether commodities domestic or foreign without making any industrial operations on these goods in those markets and are selling them within the limits of personal consumption for individuals traveling to absorb foreign currencies and to stimulate tourism.

And was named the free zones that name because it liberated from the shackles of customs and import and export. benefits of free zones , said Director General of the General Authority for Free Zones morning in favor Qaisi told (morning):

that these areas check to projects working great benefits, including exemptions of customs and taxes in addition to marketing production projects in the markets of neighboring countries and to benefit from labor and cheap production requirements, so as to achieve a reduction of costs and prices of products and increase the competitiveness of these projects.

He added that these areas achieve an increase proceeds of the state of foreign exchange fees and rents paid by enterprises within the region.

Law Commission noted Qaisi that according to the law of the free zones in Iraq, exempt imported and exported goods to areas free from all taxes and fees.

He pointed out that the law provides for the exemption of capital, profits and income from investing in projects in these areas from all taxes and fees over the life of the project, including the establishment and construction phases.

He pointed out that the Iraqi law treats the General Authority for Free Zones as an independent body administratively and financially, and linked to the Minister of Finance, and managed by a board of directors includes in his squad representatives of the ministries and relevant agencies work free zones.

site strategic and occupy Iraq, located strategically as an intermediary between the countries of the world, It is close to the global markets and overlooking the Arabian Gulf, making it the focal point for geographical lines of international trade between the Near East and the Western world, as linked to Iraq by a dense network of lines land, sea and air, including railways.

For his part, called a member of the Finance Committee parliamentary deputy secretary Hadi Abbas: to create more than a free trade zone in the country to strengthen the Iraqi economy and diversify revenues of Finance, pointing out that many countries have recovered economically and got good gains as a result establishment of free zones for exchanges trade such as Iran, Turkey and the United Arab Emirates.

Pointed to that Iraq could build more than a free zone, especially in Basra being overlooking the bay, as well as with Turkey and Iran, Jordan and transit benefit from the exchange of commercial goods.

Adding free zones should be displayed in the provinces of Basra, Nineveh and Anbar to invest, in order to qualify as one of the outstanding areas in Iraq.

There are currently in Iraq three free zones belonging to the General Authority for Free Zones are (Nineveh, Khor Al-Zubair, based). Khor Al-Zubair and the Director General of the Commission that the free zone in Khor Al-Zubair, which is located in the south-west of the city of Basra, and after (40 km) including an area (400 acres) scalable and Situated strategic overlooking the Arabian Gulf,

which makes it a point arrived geographic important lines of international trade between the East and the West, adding, as it has deeper logistically and commercially towards the Iraqi market and Gulf World, as it is close to the port of Khor Al-Zubair ever infrastructure are basic fundamental integrated Kalarsfah and services ports in addition to its proximity to the sites of raw materials and raw materials and manufactured goods.

Fulayfel and Free Zone in Nineveh province, said Qaisi This area is located in the north of the country on the road to Mosul - Zakho and lies about (20 km) north of Mosul, an area (160 dunams) scalable, explaining characterized this region geographical location broker

They are located at the junction of roads and railways in different directions to Turkey, Syria, Jordan and the ports of Basra as it is close to sources of energy and raw materials and skilled manpower, adding this area contains land tiled and non-tiled and many of the stores with construction الكونكريتي stores مسقفة and offices in addition to the space harboring trucks International.

based and on the Free Zone-based, it is located in the north-west of Iraq in Anbar province on the Iraqi border - and the Syrian town limits (400 km) from Baghdad, and an area (28 dunams) scalable and linked to Nineveh province to the land route (Rawah - connector) length (270 km) down the borders of Turkey

and linked by road (Qaim, Baghdad, Basra), length (900 km) almost down to the Arabian Gulf and the associated road-based Akashat road international extending from wetlands - Trebil to the Jordanian border.

expand the deployment of its own eye-Member Services Committee and reconstruction Attorney Suhad al-Obeidi, that the province of Basra alone could create more than a free trade zone both in the Safwan border with Kuwait or in the Khor Al-Zubair or FAO, and will be attractive area for international companies.

Obeidi confirmed that the investment of those areas will achieve positive returns over oil revenues because it will attract all the manufacturers and exporters in the being ستختصر the world through the Suez Canal through which to reach goods from East Asia to Europe or vice versa.

She stressed the need to expedite create fiscal revenue to diversify and strengthen the national economy. free zones experiencing at the moment increased activity as a result of the growing demand by major Arab and international companies and local investment.



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