Sunday 5 April 2015
Deputy Prime Minister Bahaa Al-araji, Sunday, the Council of Ministers took an important decision to speed up the granting of visas to investors to no more than 72 hours, adding that Iraq faced a financial crisis and not economic.
Al-araji said while attending an investment contract in Baghdad attended by sumaria news, that "the Council of Ministers adopted a package of important decisions regarding investment, especially in the field of oil and energy represented by accelerating the granting of visas to no more than 72 hours with only a brief customs procedures and facilitate the entry of articles on investment projects".
Al-araji, said that "the crisis often contribute to the creation of States and economies, we are in Iraq today before the financial crisis rather than economic," pointing out "that called for all concerned to think about alternative economic and investment."
And Al-araji, said that "one of the things that contributed to disable the investment process in Iraq complications occurring in investment law and circumstances that have befallen the region", adding that "crisis often contribute to creation and economics".
The Iraqi Parliament approved in October 2006 investment law, many foreign companies remain reluctant because of fear of what it describes as the unstable security in Iraq, in addition to having some of the paragraphs are not attractive for investment despite the amendment of the law in 2010.
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