SATURDAY, MAY 11 / MAY 2013 13:46
Commission criticized the parliamentary economy and investment, Saturday, delayed modify the Iraqi investment law, and promised to “hang” for investment operations and “reason” to increase rates “of unemployment and poverty” in the country.
Said committee member Nahida Daini, in an interview for “Twilight News”, that “the investment law did not contribute to the expansion of investment opportunities, and it was طاردا to investors, because of overlapping powers and the difficulty of obtaining the land and give it to investors, in addition to the instability of the security fully.”
Daini added that “the survival of the current investment law without amendments means there is no investment in the country,” calling to “speed up amending the law that fits the global investment firms in light of the country’s urgent need for various investment projects in all the provinces.”
Local officials justify in several provinces of the lack of investment opportunities in the intersection of the powers of the provinces with the security ministries and security instability in some provinces, in addition to lack of investment culture among some provincial officials and departments concerned.
The lot of investment companies reneged on their projects and withdrew, due to the inadequacy of the Iraqi investment law to the mechanics of global investment and not modified by the Iraqi parliament, the reason for the delay and delay granting licenses and investment opportunities.
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