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Iraq is an indicator of most States failed to attract investment

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2017/08/29 (00:01 pm) - hits: 116 - count (4008)

Iraq is an indicator of most States failed to attract investment

long/zahraa Al Jassim

In conjunction with the Prime Minister Haider Abadi during its opening a mega-malls (Mall of Baghdad) Baghdad last Saturday, for business to invest in various sectors, confirm classification of Basil to combat money laundering by the Basel Institute on governance in Switzerland published Monday, on the most dangerous countries on investment, risk and risk in investing in 2017, Iraq and Syria was excluded and other classification, as a failing States attract and attract foreign investment because of corruption and wars In these countries.

Specialists in Economic Affairs stressed that the Prime Minister and earlier invitations can't move anything unless it's move to improve the business environment in Iraq, in a Commission Economist suggested time with high level associated with the Supreme Committee for investment, headed by the Prime Minister, to study the challenges and overcome them, and propose solutions and follow up their implementation, shows the importance of investing in industrial and agricultural sectors, health and even transport and housing because it's the country's income sources, unlike investing in malls that are active Iraqi economy, consuming Stressing the need to provide Government guarantees for investor without cannot invest in Iraq.

The Basel Institute on governance, a nonprofit independent Center specializing in the study of public governance and fight against corruption and money laundering, and criminal law enforcement, and recover stolen assets.

Economist Amer Al-jawahiri said in an interview for (how), it can't move something with all these calls if they are not moving to improve the business environment in Iraq, and the first step is to humans, human capacities must be flexible in handling and elimination of red tape and bureaucracy, and this should be a guide and symposia, as suggested to form a Committee with the high level Committee on the business environment associated with high investment Committee headed by the Prime Minister, and this must consider To all the challenges and constraints and to overcome as they propose solutions and pursued and implemented, not only suggesting that Iraq is filled with suggestions.

Jeweler finds that permit Iraqi officials to bring investors just isn't enough, because the fact that employers have mgsathm, today any investor reviewing companies Registrar query finds how to deal with the natives, he finds that there is a not welcome citizen even like these, the kindness of entreating is strange because things don't address this way, but to say that the work in Iraq need real action on the ground and not invitations and Arthroscopy and proposals, the treatment staff and even educated people working in the private sector on how to Disposition and dealing in investment circles to receive citizens and welcomed face Lin.

Meanwhile, the economic expert proposes dorgham Mohamed Ali in an interview for (how), the need for green areas for investment and free zones is like getting through the investor on the ground ready to invest with known areas where services are available, and fenced with activity that could specify the investment authority or KIA free zones and these spaces are protected by the State and here the Government can apply paragraph single window within these enclaves, because single window currently non-existent law and activated and unrealistic Because of non-compliance with the State departments of investment law due to the presence of ancient laws within the State departments are applicable instead of the investment law.

It emphasizes the importance of action to speed up and consistent transactions and overcome some of the problems facing the investor including extortion from your contacts window so to obtain a piece of land may take months, he continues: all those things are impediments facing investor and make him think a thousand times before offering to invest in Iraq, straight by saying: as it is in that very difficult investing in Iraq with agricultural or industrial projects, investment remains limited to malls projects being often exchange land. Or taken from state high rents, these investments do not serve national economy but Iraqi income consumer activity and even converted Iraqi funds abroad.

The Economist concludes by saying: industrial and agricultural investments, health and transportation in addition to investments in the housing sector, all these are sources of income for the country, continuing: so it calls this investment should be accompanied by actions and the Government should work on broadcast messages assured the investor that new measures will be implemented on the ground and give a time limit for completion of the leave and land investor, because all the investors who have come to Iraq clashed with red tape and non-responsive State services as well as extortion that were exposed, so without Guarantees the fact can not invest in Iraq.

Involved in the investment sector finds in Iraq talking about investment impediments was still exists since 2003 and yet without having little solutions, so refrain from different government departments holding facilities that help to implement investment projects, and financial and administrative corruption phenomenon still spread dramatically both through manipulation of laws and bypass it what led to increased bribery and corruption and obstruction to investment and development, municipal services suffer and tax, electricity, water and sewage from the scourge of corruption, with little investment culture when citizens, bug Government banking regulations and failure to cooperate in supporting the investment industry and investors, not to mention the dominance of the public sector on the most significant investments in the country and not to allow the private sector to invest.



2017-08-29 BY SOTALIRAQ
Basel Institute: Iraq is a failed state to attract foreign investment

The Basel Institute for Governance has ruled out Iraq, Syria and other countries from a list of 146 countries according to the risk and risk ratio of investment for 2017, calling them failed states.

"The exclusion of Iraq, Syria and other countries from the list comes because they are failed countries to attract and attract foreign investment because of corruption and wars in these countries," the institute said in a report published on its website.

Iran, with a market of 80 million consumers, ranked first in the ranking, ahead of other countries such as Afghanistan, which ranked second, Guinea, Tajikistan and Mozambique, which ranked third and fourth The report pointed out that "investments in Iran do not benefit the local population, which is in complete contradiction with the goals of sustainable development, because it goes to the oil and gas sector whose revenues go, to strengthen the authority of the Iranian regime and guard," according to the report.

Finland ranked last in the index, followed by Lithuania and Estonia as the least risky and most advantageous countries.

The Basel Institute for Governance is an independent, non-profit center specializing in anti-corruption, public governance and money laundering, criminal law enforcement and recovery of stolen assets.

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