Foreign Minister Hoshyar Zebari Alsumaria news/Baghdad
The Iraqi Foreign Ministry announced, Saturday, the European Investment Bank to lift the restrictions previously imposed on European investors, saying the move will enable them to invest directly in Iraq.
Foreign Minister Hoshyar Zebari told a press conference today, with Ministers for Foreign Affairs of Sweden, Bulgaria and Poland in Baghdad, "the European Investment Bank in the previous restrictions on European investors, but it was filed", stating that "this resolution can Europeans to invest in Iraq directly."
Zebari said that "all States of the European Community has relations with Iraq and its subsidiaries implemented many investment projects", praising the investment.
A European delegation arrived with the Ministers for Foreign Affairs of Sweden and Poland and Bulgaria on Saturday (June 23, 2012), to Baghdad to discuss ways to develop economic and political relations with Iraq.
Iraqi relations went through with the Nations of the world and the European Union several crises during the previous regime, relations with Iraq also saw other crises world following the events of 2003 and the subsequent deterioration in the political and security situation reflected negatively on its external relations, but the wheel that revitalized relations improved security and facilities provided by the investment.
The Iraqi Parliament passed in October 2006 Iraqi investment law, which was in due course that will open the doors wide open to foreign investment, due a lot of facilities for foreign investors, but many foreign companies remain reluctant because of fears of unstable security realities in Iraq, adding that the law did not give investors the right to ownership of real estate project, وساوی between Iraqi and foreign investor in all privileges except own the property, foreign investor for land rental 50 years, renewable, as paragraph 11 of the law.
Investors are required to submit their projects for national investment Commission or territory or province Investment Commission for investment and can leave to apply to the investment vacation "single-window service", developed by the National Commission for investment and investor information authorized by final decision of the Commission within 45 days to eliminate routine administrative leave.
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