Investment project in Basra

16.06.2011
Optical spring
According to head of the investment in Basra Haider Ali Fadel said that the movement of investment in the province on the verge of a major development in the coming months, while reports indicate that the authority agreed to the implementation of 40 investment projects since its founding in 2008 until now, more than half of which has not yet been implemented.

He says Fadel said in an interview with Radio Free Iraq that the lack of land allocated for the implementation of investment projects in Basra under the domination of the oil ministry on the majority of the vacancies, in addition to the difficulty of obtaining visas to foreign investors to enter Iraq, is one of the main challenges that hinder the revitalization of the movement of investment in the province.

And counts the local government in Basra on investment to achieve what can not be met so far from the demands of citizens, such as reducing unemployment, and to address the housing crisis, and improve services, according to head of the Economic Committee in the provincial council, Mahmoud Almksusi The local government is doing what it can to persuade the companies foreign and domestic investment in the province.

According to the National Alliance MP Abdul Hadi al-Hassani said the success of investment experience require an amendment to legislation related to investment in addition to economic reforms include support for the local private sector and make local companies capable of competing with foreign companies.

Hundreds of investors and foreign businessmen visited the province of Basra this year, but they left without seize the investment opportunities available to them, because it does not fit with their ambitions commercial efforts to implement projects related to oil and gas, ports, hoping the investment of investors to implement projects related to sectors of housing, electricity, tourism, agriculture and industry

http://www.iraqhurr.org/content/article/24237010.html