It suggested the Iraqi National Business Council, on Monday, four paragraphs to be included in the Investment Law No. 13, which was prepared to vote in the House of Representatives, and confirmed that he had sent those proposals to the Parliament, while noting that the proposals included an exemption investor of all taxes, fees and customs on raw materials and supplies production, She said those paragraphs that the success of the application of the law on the ground. The head of the Council Daoud Abdel-Zayer, in a statement received (range Press), a copy of it, that "due to the importance of investing in the development of the Iraqi economy and to create an environment and laws attractive for national and foreign investors and the most important of the Investment Law No. 13 of 2006, as amended, for the purpose of the amendment is that the House of Representatives in the process passed through these days in very perfect, we believe it is necessary and makes sense to add some paragraphs that would support the law. "
Zayer said, "The paragraphs that have been sent to the Committee on the economy and investment representative are inspired by the experiences of others is characterized by Iraqi law to the laws in force in the region and in order to be easy and fast application without hindrance to remember."
He explained Zayer, "The first paragraph of the proposed included granting the investor within the investment cities (Chalsknah, industrial or tourism or media, commercial or others) the right to enjoy the investment law and obtain an investment license within the city granted an investment license also straighten the legal status of land use to the second investor either rent or acquisition whether industrial or residential city. "
He Zayer, that "the second paragraph has been allocated to the invitation to exempt the investor from all taxes, fees and customs of all the raw materials and supplies production in line with the direction the government of preventing the import of non-economic and non-essential and the promotion and protection of the national industry, in the third paragraph stressed that enjoys the investment project All the privileges of the laws in force in addition to the investment law. "
And on the fourth paragraph of the proposal submitted to the House of Representatives on the amendment of the Investment Law, president of the National Business Iraqi Council, based on a study of the project of the Committee for the economy called for a "call industrial investors through the enjoyment of all industrial laws, including the Industrial Development Act No. (20) in addition to the Investment Law ".
Still the Investment Law No. 13 of 2006 when the economic and investment commission is discussed, study after it was read a first reading and is expected to be voted on during the next sitting Council of Representatives.
The House of Representatives passed in 2006, the Iraqi investment law, which it was said at the time that it would open the doors wide the front of foreign investment, due to submit a lot of facilities to foreign investors, but that 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 investor Iraqi and foreign in all the privileges, with the exception of real estate ownership, as can the investor foreign than lease the land for 50 years, subject to renewal, according to paragraph 11 of the Investment Law.
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