Economic adviser: granting investment licenses to foreign companies must be reviewed
Tuesday, April 13th 2010 1:34 PM
Baghdad, April 13 (AKnews) - The provincial councils must review clearely the investment grants given to foreign investment companies," the Economic Adviser of the Iraqi government said today.
"There are real problems in granting investment licenses to international companies, especially that some provincial councils don't ask for the accomplishments achieved by those companies," Salam Al-Quraishi told the Independent National News Agency of Kurdistan (AKnews).
He said that there were efforts to make the investment grants under the supervision of a specialized committee to consider the important investment licenses.
"It is very important for Iraq to be a professional and technical center among all other countries to consider the subject of oil licenses," he added.
Anbar Province Council granted more than 20 Arab and foreign companies, specialized in industrial and residential projects, investment licenses and the Housing Ministry considered that this decision needs more study since some of those companies do not have enough experience about the housing projects.
The number of investing companies in Iraq has reached 289 Arab and foreign investment companies, involved with various government ministries.
Rn/SH (AKnews)
Tuesday, April 13th 2010 1:34 PM
Baghdad, April 13 (AKnews) - The provincial councils must review clearely the investment grants given to foreign investment companies," the Economic Adviser of the Iraqi government said today.
"There are real problems in granting investment licenses to international companies, especially that some provincial councils don't ask for the accomplishments achieved by those companies," Salam Al-Quraishi told the Independent National News Agency of Kurdistan (AKnews).
He said that there were efforts to make the investment grants under the supervision of a specialized committee to consider the important investment licenses.
"It is very important for Iraq to be a professional and technical center among all other countries to consider the subject of oil licenses," he added.
Anbar Province Council granted more than 20 Arab and foreign companies, specialized in industrial and residential projects, investment licenses and the Housing Ministry considered that this decision needs more study since some of those companies do not have enough experience about the housing projects.
The number of investing companies in Iraq has reached 289 Arab and foreign investment companies, involved with various government ministries.
Rn/SH (AKnews)