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Flows of foreign investment key to economic development

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Flows of foreign investment key to economic development

15/8/2017 1:06 am
Baghdad/Emad Emirate

There is no doubt that foreign capital is moving according to the parameters for the overall stability of States along the laws involved transferring funds and profits to the parent State of the company or the direct investor, and on this basis, the country needs to speed up foreign investment inflows to grow, what requires-specialists – greater openness to foreign and domestic investments by creating the legal ground for establishing an attractive investment environment in Iraq.

Economic academic Dr Abdul Karim Jaber shangar explained to "morning" that the country sought to create a suitable investment environment in attempts to overcome the difficulties of foreign investment to economic sectors.

He noted that unsettled state discourages the entry of investments due to the diverse risks incurred by the direct investor as confiscation or investments different attacks that may create loss of lives.

The economic determinants associated with monetary and fiscal policies and appropriate accounting in host countries, along with market size supported by the relative abundance of natural resources necessary for foreign direct investment, stressed that the banking system is the basis for the success of FDI entry, noting that law No 56, containing the monetary authorities' independence from the legislative and executive authorities, foundations for a banking system to foreign investment to Iraq.

Shangar called for the establishment and development of infrastructure, which is the important part of productivity from production or services to increase the State's energy productivity as the machinery and equipment, construction and paving of roads, bridges, airports and public facilities and buildings, his competitiveness has become with the radical transformations in the economic and political relations are basically working in attracting investments.

Investor Brian alausi, noted that there are many factors that affect domestic and foreign investor psyche and thus determine its behavior, notably tension as well as overconfidence and its influence on behavior.

He explained that stress represents an imbalance between one perception on what's needed in a specific situation and his ability to meet those demands, indicating that the investor faces events seen as threatened by loss, moreover, there can be no cognitive or behavioral stress, so the emotional reactions generate motivational energy to address and identify the problem.

Alausi stressed that economic pressures could raise investor behavioral reactions reflect low coping skills and deal with the situation, and consequently the pressure diminish investor confidence in success in their future.

Either the economic academic Umar Ahmed Rawi said: "Iraq had no experience in opening up to foreign investment, where the policies and ideologies which were adopted before 2003 is opening up to foreign investment country governed by outside forces."

And the narrator in the interview for "morning" because it did not allow the laws adopted then bye foreign investment activity, stressing that Iraq today need investments of all kinds, especially after the changes that have occurred in the country and the implications of the emergence of "ISIS" terrorist and his control over large areas.

He added that the declining financial resources because of low oil prices in recent years and the high cost of military operations to edit different areas of terrorism, led to paralyze all sectors of national economy.

Narrator stressed the need to accelerate work hard to attract investment and activate the legal and institutional frameworks to provide necessary facilities for foreign investment.

He pointed out that the important question that arises today is more than a decade after the enactment of the investment, it is actually Iraq achieved the investment environment to attract foreign investment. What are the conditions for attracting investment? Because today's Iraq desperately needs foreign investment to reconstruct the liberated areas of terrorism and revitalizing the national economy.

The narrator said that the drawbacks and upsides to being open to foreign investment, they proceed from two competing investor interest and the interest of the host country to invest, thus if foreign investment is disorganized saves the country's social and economic interests will this investment for more international capital for the national economy.

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