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Economic parliamentary propose a portfolio of large investments

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22/03/2012
BAGHDAD - Hussein al-Tamimi Tgb

Expressed a number of specialists in economic affairs believed that the provision of inducements and facilities for foreign companies to sponsor the development of investment in Iraq, and make the country of the most important centers in the region, as well as to shift the quality in areas where Iraq needs, including housing.

The MP said the committee of economy and investment parliamentary Aziz Mayahi: that his committee has a proposal will be put to the House of Representatives will contribute to attracting investment to Iraq. He Mayahi told (morning) that the proposal is to establish a financial institution funded by the Ministry of Finance with a capital of $ 3 billion under the supervision of the Council of Ministers.

He explained that this institution is in agreement with the global investment companies to build housing complexes without usurious profits, but are paid small sums represent the wages of workers in the organization. He Mayahi his belief that this proposal, if implemented, it has many positive aspects, including ensuring the arrival of foreign companies to Iraq, not to mention that this idea will provide inducements for companies and be a magnet encouraged to work in Iraq and favored by all the neighboring countries affected by crises, political and security or international economic sanctions.

He noted that the founding member of parliament of the institution and its results are available for Iraq, the fact that money is there and so companies want such facilities and the results are guaranteed through the work of companies that lead to the operation of labor and the elimination of unemployment.

He added by saying: I do not think any party, whether government or parliament would reject such a proposal, and Snstaan ​​economic and financial experts to make it successful and overcome any obstacles, whether at the stage of presentation to the House of Representatives or its application on the ground.

And confirms the specialists that any state will attract investment must provide factors essential to attract foreign capital, and this online stable security and political in the present time in Iraq, and the conditions existing in some countries surrounding Iraq to help him bring in investors, as witness Syria instability security and political, as has been the imposition of economic sanctions against Iran, which he attributes to the professionals it represents an opportunity to attract investors to Iraq as a stable country compared to what surrounded countries.

In this context, an economist Asad Acoli told (morning): Before the collapse of the security situation in Syria and impose sanctions on Iran, Iraq was a unique sector of religious tourism, considering that this sector is highly competitive for the rest of the States, although this is not the exploitation of tourism Religious properly because the parties concerned did not make efforts to develop and provide inducements or bring in capital to invest in it and work to attract foreign tourists to tourism in Iraq.

He added: We need many efforts including the provision of inducements, Vetoverha properly to investors will lead to the arrival of Iraq, for example, for the oil sector, has achieved licensing rounds have been preparing her characteristically well attended by the giant oil companies in the world as the attraction by government, it is available, which the most successful oil licensing rounds, and continued by saying: other sectors need to make such a temptation and effort in order to attain investment, and develop all sectors in the country.

As noted economist Munir al-Janabi, the importance of the adoption of new mechanisms to attract investment companies specialized in their various affiliations, whether domestic or foreign, especially that the country desperately need so trends come experience advanced into the country, to play all the facilities production and service, noting that the study of the economic reality carefully leads to the adoption of attitudes lead to positive results to serve the local economy, indicating that the proposed development institution dedicated to the residential side will be the seed for the other institutions promote other economic joints.

As the actual need for the advancement of the Iraqi economy requires a major effort to multiple global companies. On the other hand said Mayahi in a press statement: The adoption of the budget, does not prevent than to see changes to some of its paragraphs, especially paragraph 36 related to aged infrastructure, payment term, and expected to be amendments to certain paragraphs of the financial budget for 2012, especially with regard to article 36 for reconstruction of infrastructure in a deferred payment for the construction of housing for the poor and a number of hospitals and schools, noting that the amendment will be through the provision of a proposed amendment to the law such as the amendments made to other laws.