October 27, 2015 0
Chairman of the Legal Committee in the House of Representatives, Mahmoud al-Hassan said, "The amendment of the Investment Law guarantees a sophisticated special provisions and put strict conditions on lagging investment projects," noting that "the law put delay penalties up to large sums of money on these projects."
Hassan said during a press conference inside the parliament building and attended by the correspondent of our economy news agency that "the law reassured investors through the possibility of resorting to international arbitration between the investor and the government," noting that "the law introduced sophisticated provisions encourage investment in the country."
The House of Representatives voted on Tuesday unanimously approved the second amendment to the Iraqi Investment Law No. 13 of 2006.
The vote came on the second amendment to the investment law after claims of economic and political actors need to amend the law to allow for the expansion of investment in Iraq in all fields, especially in light of the financial crisis currently experienced by the country.
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