Monday 02/11/2015 1:43
Baghdad news / Baghdad
promised Baghdad Investment Authority Second Amendment to the investment law "a good step" for the contents of Extras quality that will facilitate the work of investors and enable them to obtain exemptions, loans and many facilities, while the economic and investment commission in Parliament has called for cooperation with the investment agencies, application system "single window", warning put obstacles in front of any investor. "The head of the Baghdad Investment Authority, Shaker al-Zamili, in an interview I followed" Baghdad News "that" the Second Amendment to the investment law is a good step because of the additions thereto, as an amendment to Article 17 special exemptions customs and tax ", adding that" exemptions previously defines seven years from the date of granting the license for materials and supplies imported for the project, while becoming under the amendment for the duration of the project completion. "He added Zamili, said that" the new law excluded more than 12 laws or a decision issued by the Council the dissolved Revolutionary Command, were located 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 investment bodies and support strongly. "and the opinion of the President of the Baghdad Investment Authority, said that" The new law solve the biggest problem in the investment file, relating to the granting of land, when committed ministries delivered within a specified period, and other than that authorized the National Investment Commission to ask the Council of Ministers titled the point of investing, "pointing out that" the old law did not abide by the ministries to provide land to investors than create significant obstacles in front of them. "He said Zamili," The Second Amendment to the investment law gave opportunities incentive for investors through the ownership of land within the design basis for the project, so that they can be guaranteed to get loans from banks, "adding," but the ownership will not be random, but through study feasibility carried out by the Board of Directors of investment authorities in the provinces. "The head of the Baghdad Investment Authority, said that" the law allowed that there be titling each territories, whether in Gaza or mixed or private, and committed the government to deliver infrastructure to the fence project boundary, after it was not obligated to do so, "following up" The new law granting investors exempt 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 economy Iraqi, by attracting foreign investors, "stressing 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 prime Baghdad Investment Authority, said, "The new law identified important responsibility of boards of directors to issue decisions and the granting of licenses, which means that it will not be an individual but a collective of its members."
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