ar032
10-12-2006, 07:56 PM
Parliament approves the new investment law
Iraqi Parliament approves the new investment law
12/10/2006
Source: Reuters
The Iraqi Parliament approved, on Tuesday, the first law regulating foreign investment in the post- war phase and legislators hope that it would encourage attracting funds, urgently needed to revive the country's economy.
The legislation introduced by the government last July does not include investment in oil excavation and production.
The law gives Iraqi and foreign investors equal shares in investment projects, except for land ownership.
According to a draft of the law obtained by Reuters, it allows the investor to transfer money to and from Iraq without major obstructions and it requires that at least 50% of the working cadre to be Iraqis.
http://www.iraqdirectory.com/DisplayNews.aspx?id=2298
Iraqi Parliament approves the new investment law
12/10/2006
Source: Reuters
The Iraqi Parliament approved, on Tuesday, the first law regulating foreign investment in the post- war phase and legislators hope that it would encourage attracting funds, urgently needed to revive the country's economy.
The legislation introduced by the government last July does not include investment in oil excavation and production.
The law gives Iraqi and foreign investors equal shares in investment projects, except for land ownership.
According to a draft of the law obtained by Reuters, it allows the investor to transfer money to and from Iraq without major obstructions and it requires that at least 50% of the working cadre to be Iraqis.
http://www.iraqdirectory.com/DisplayNews.aspx?id=2298