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Parliament enacts implementing comprehensive legislative plan to change the reality of investing in Iraq

2012-04-10



Baghdad/JD/... Iraqi investment sector was unanimously approved, inter alia, decisions of the investment conference, held in the House of representatives which will be approved, respectively.

And saw the House early this week Investment Conference, headed by Parliament Speaker Osama alngivi and the presence of the Minister of State for deputies and President of the national investment Commission.

Got (dinars) to the document containing the results of the Conference which stressed the modification and cancellation of certain paragraphs of the laws and decisions related to investment and national body mandated to invest in coordination with provincial bodies to submit those amendments to legislative methods window.

as decided by the Presidency of Parliament approached the owners of the land in order to comply with the provision of arable land investment ventures and delivered to the investor in a period not exceeding 30 days from the date of granting holidays free of concerns.

It was also decided to accelerate the granting of powers to the delegates of ministries in decision-making on projects concerning sectoral approval.

And commissioned National Investment Commission prepared studies about modifying the investment law No. 13 of 2006 amended by coordination with provincial investment bodies.

Osama alngivi invited to create clear criteria in granting llmfkadalh between investment opportunities investors away from mediation and patronage.

And emphasize that body aslatthmaret opportunities available light and provide appropriate land sectors.

It was also decided to activate the role of the banks to support alasnthmar through soft loans, facilitate the procedures for granting visa to the investor and experts, engineers and manpower needed by foreign investor and increased exemptions obtained by the investor.

The representative Committee has been formed on the Parliament and stakeholders to follow up on the implementation of decisions.

And committed Parliament chairpersons of provincial lalastthmar to provide every three months a report to Parliament outlining projects which have been granted investment projects that leave under achievement and reluctant with the stated reasons for enterprise ready projects and the amounts and dates of the leave and start working.


Member of the Economic Committee for assured albegari giây (JD) that this Conference will start to amend many laws relating to investment, the Commission will work on the preparation of studies translate to new bills or modify window.

And followed a step we will begin by Bernardino will be towards the effective operation of Iraqi banks which are the investment gateway, unfortunately so far can describe this sector limited compared to other banks.

With regard to the problems of granting land showed that there are many problems impeding the entry of most investor subject granting land and recently exploited some impaired souls this decision to seize land in good locations, and here we amendments stresses project implementation in selected times and pull the Earth if grounding the investor. /finished/22