I returned Investment Authority, Baghdad, on Friday, that the Second Amendment to the investment law is a "good move" because it involved additions quality that will facilitate the work of investors and enable them to obtain exemptions, loans and many facilities, while calling for economic and investment commission in Parliament to cooperate with the bodies of investment, the application of "single window" system, warning of the obstacles put in front of any investor.
Baghdad Investment: The new law includes extras quality to facilitate the work of investors
and the head of the Baghdad Investment Authority, Shaker al-Zamili, in an interview to the (long-Presse), "The Second Amendment to the investment law is a good step because of the additions that have occurred in it, as an amendment to Article 17 special exemptions of customs and tax "noting that" the exemptions previously defines seven years from the date of granting leave for materials and supplies imported for the project, while becoming under the amendment for the duration of the project is completed.
"He added Zamili, that" the new law excluded the more than 12 law or decree issued by the Revolutionary Command Council dissolved, were present in the old law, and allowed in one of the paragraphs of the investor to borrow from the government and private banks when the percentage of completion of project 25 percent, and the granting of powers to the provincial councils to enable them to establish a investment bodies and support strongly.
"and saw the head of the Investment Commission of Baghdad, that" the law of the new solve the biggest problem in the investment file, regarding the granting of land, when committed ministries delivered within a specified period, otherwise the National Investment Commission authorized to ask the Council of Ministers titled the point of investing, "pointing out that" the old law did not commit ministries to provide land for investors, creating obstacles great in front of them.
"He explained Zamili, that" the Second Amendment to the investment law gave opportunities incentive for investors through the ownership of land within the base design for the project, so that they can be guaranteed to get loans from banks, "adding," but the ownership will not be random, but by studying the feasibility of the by the Governing Council of the investment authorities in the provinces. " The head of the Baghdad Investment Authority, that "the law allowed that there is ownership of each land, whether public sector or mixed or private, and committed the government to deliver infrastructure to fence the project boundary, after that they are not obligated to do so," following up "The new law granting investors exemption Kmarkia and a tax on raw materials for industrial projects, after it was previously only on machines and equipment.
"promised Zamili, that" the exemption will support the establishment of large industrial projects in Iraq, and stimulates the national product and revive the Iraqi economy, by attracting foreign investors, "asserting that "The new amendment allowed that is formed Board of Directors of each of the Investment Commission, of nine members, including four from the private sector, after he has seven, including the head and deputy and two from the private sector."
The head of the Investment Commission of Baghdad that "the new law identified important boards of directors responsible for issuing decisions and the granting of licenses, which means that it will not be individually but collectively by its members.
"investment parliamentary calls for the application of the single window system
For his part, predicted chairman of the economic and investment commission in Parliament, Jawad al-Bolani, said in an interview to the (long-Presse), that" the law New contribute to activating the investment wheel, which stopped in the previous period because of the obstacles that were facing investors as a result of some of the paragraphs deactivated for their projects, "noting that" the House vote to approve the second amendment to the investment law itself constitute a victory for the wheel of investment that has been affected one way or another of the Old Law as well as another malfunction progress of the projects as well as he was a stumbling block to the private sector.
"He called al-Bolani, the government of the need" to cooperate with the bodies of investment, and to make one bulk of the window interest in serving the public interest, "warning" put obstacles in front of any investor because of what going through the country from the financial and economic crises. "The parliament approved during its meeting of 32 of the first legislative term of the second legislative year of the third parliamentary session, which was held in, (the 27th of October the current 2015), the second amendment to the law of the Investment Law, No. 13 of the year 2006.
[You must be registered and logged in to see this link.]