Investment representative with the government "failed" to attract investors to Iraq
THURSDAY, 26 DECEMBER / 2 JANUARY 2012 11:19 HITS: 111
Twilight News / bore the economic and investment commission in the House of Representatives, Thursday, the government responsible for the failure of the investment sector in Iraq, calling for the establishment of an integrated system to support investment and investors participate in most of the institutions of the state in addition to the private sector.
A member of the Committee of Economy and investment representative Abdul Hussein Abtan for"Twilight News" with most of the government ministries responsible for the failure of the investment sector and attract investors to Iraq. "
"The obstacles facing investors in government departments such as financial and administrative corruption and extortion by some of the staff caused the decline in investment in all areas."
Revealed the parliamentary finance committee, earlier, that the International Monetary Fund called for in his recent visit to Iraq, the House of Representatives not to enact laws that contribute to undermine the growth of the Iraqi economy, indicating that the legislation of laws increase the operational budget at the expense of investment irritated the International Monetary Fund.
Abtan called to "the formation of an integrated system in which most of the state institutions and the participation of the private sector to move the wheel of investment and attract investors."
He noted that "in Iraq today, a breeding ground to encourage investors to invest in all sectors, and we need the largest institution of the current investment."
And Prime Minister Nuri al-Maliki, earlier, "there is sagging in the state departments, which need to be a new structure for the elimination of red tape made in the circuit, which delays the work in all joints of the life of the investment sector, which led to the alarming investors to work in the country," calling "academics and professionals to put forward to rebuild the structure of the state."
The House passed in October 2006 Iraqi investment law, which it was said at the time that he would open the doors wide the foreign investment, due to introducing a lot of facilities to foreign investors, many foreign companies are still hesitant because of fears that the security situation is stable in Iraq, adding that the law did not give investors the right to ownership of the property the project, and equated the Iraqi investors and foreign, in all the privileges, except own the property, as can a foreign investor to rent the land for 50 years, renewable, according to paragraph 11 of the Investment Law.
THURSDAY, 26 DECEMBER / 2 JANUARY 2012 11:19 HITS: 111
Twilight News / bore the economic and investment commission in the House of Representatives, Thursday, the government responsible for the failure of the investment sector in Iraq, calling for the establishment of an integrated system to support investment and investors participate in most of the institutions of the state in addition to the private sector.
A member of the Committee of Economy and investment representative Abdul Hussein Abtan for"Twilight News" with most of the government ministries responsible for the failure of the investment sector and attract investors to Iraq. "
"The obstacles facing investors in government departments such as financial and administrative corruption and extortion by some of the staff caused the decline in investment in all areas."
Revealed the parliamentary finance committee, earlier, that the International Monetary Fund called for in his recent visit to Iraq, the House of Representatives not to enact laws that contribute to undermine the growth of the Iraqi economy, indicating that the legislation of laws increase the operational budget at the expense of investment irritated the International Monetary Fund.
Abtan called to "the formation of an integrated system in which most of the state institutions and the participation of the private sector to move the wheel of investment and attract investors."
He noted that "in Iraq today, a breeding ground to encourage investors to invest in all sectors, and we need the largest institution of the current investment."
And Prime Minister Nuri al-Maliki, earlier, "there is sagging in the state departments, which need to be a new structure for the elimination of red tape made in the circuit, which delays the work in all joints of the life of the investment sector, which led to the alarming investors to work in the country," calling "academics and professionals to put forward to rebuild the structure of the state."
The House passed in October 2006 Iraqi investment law, which it was said at the time that he would open the doors wide the foreign investment, due to introducing a lot of facilities to foreign investors, many foreign companies are still hesitant because of fears that the security situation is stable in Iraq, adding that the law did not give investors the right to ownership of the property the project, and equated the Iraqi investors and foreign, in all the privileges, except own the property, as can a foreign investor to rent the land for 50 years, renewable, according to paragraph 11 of the Investment Law.
