5.1.2012 | (Voice of Iraq) - Sumerian News / Baghdad criticized the Investment Authority, Baghdad, on Thursday, continuing the work of the Iraqi government the decision of the Revolutionary Command Council dissolved 581 of 1981, arguing that the decision "a real crippling" of the investment process in Baghdad.
As demanded Excluding the resolution in the allocation of land for the establishment of investment projects in Baghdad. The chief investment Baghdad Shaker Zamili in a statement issued today, and received "Sumerian News" copy that "the Commission asked the higher authorities with the exception of investment projects from the provisions of the Revolution Command Council dissolved 581 of 1981 ", noting that" the allocation of land for investment projects is a major obstacle in the way of attractive investment in Baghdad. "
He Zamili that "the decision is impeding the real investment process in Baghdad because of the financial deficit of the secretariat of Baghdad from the acquisition of land and real estate covered by the provisions of resolution," he that "the failure of government agencies owning land and property covered by the provisions of resolution of their ownership to the Secretariat of Marqlat the investment process as well."
The Chairman of the Investment Commission of Baghdad that "Article X of the Act No. 13 of 2006 amending granted the right of the investor in the acquisition of land for the purpose of housing projects, which will reach area to more than 1000 acres, which led to the lifting of the conflict between the provisions of resolution what is said in favor of the Investment Law, "asserting that" investment Baghdad is keen to obtain the approval of those planning a circle designs in the Baghdad Municipality and the Department of Urban Planning at the Ministry of Municipalities and Public Works before the allocation of land . "
The Decision of the Revolutionary Command Council dissolved No. 581 of 1981 on the ownership of the secretariat of Baghdad, land and orchards within its borders and decide which it uses non-farm under the basic design of the city of Baghdad.
The Investment Authority, Baghdad announced in December, has awarded 137 vacation investment value of a financial hit about six billion dollars during the past three years, including 56 investment license has been granted during the year 2011. and Iraq's parliament approved in October 2006 Iraqi investment law, which it was said at the time that he would open the doors wide open to foreign investment, due to introducing many of the facilities for foreign investors, many foreign companies are still hesitant because of fears that the security situation is stable in Iraq, adding that the law did not give investors the right to ownership of the property the project, and equated the Iraqi investors and foreign, in each of privileges, with the exception of real estate ownership, as can a foreign investor to rent the land for 50 years, renewable, according to paragraph 11 of the Investment Law.
It is incumbent upon investors to submit their projects for the National Commission for Investment, or the Investment Commission of the region, or province, to get investment licenses, and can apply for leave of Investment " Department of the single window ", developed by the National Investment Commission, and authorized to inform the final decision of the investor within 45 days, to eliminate administrative red tape in granting investment license.
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