05/03/2011 Parliamentary Commission of Economy emphasizes the law change the current investment in Iraq
Baghdad, A member of the Economic Council of the Iraqi parliament on Saturday that the current investment law will be changed completely, and will be drafting a new law in line with the needs of Iraq's economic and accelerate the completion of service projects in the country.
The demonstrations and large seen the governorates of Iraq yesterday called for the provision of services, and speed up the completion of service projects.
Said Salman al-Moussawi, told the Kurdish news agency (Rn) "The Economic Committee in the House of Representatives is not convinced the current investment law in which they operate and the jurisprudence of the Investment Authority as shall not have economic flexibility."
He added that "the Committee decided at its last meeting the drafting of a new law for investment of more liberal constraints, and guarantee the rights of the investor on the one hand, and the Iraqi government on the other".
And confirmed the Iraqi Ministry of Planning Federal that the next phase requires the development of new mechanisms for the implementation of investment projects in the country address the problem of delay in completion of service projects.
Al-Moussawi said that "the Committee will consider a set of universal laws in the countries that have succeeded in the implementation of investment projects and was able to promote the economic betterment through those projects."
The Iraqi government plans to lift the obstacles facing investment, through the revision of the percentage that are imposed on foreign investors or local level.
He said al-Moussawi said, "the new investment law will solve the problem of land allocated to projects, as well as the problem of the old laws that have initiated during the former regime are still valid."
And impose the Iraqi government since 2006 percentages from 8 to 12% of the value of the project to the investor Iraqi graphical value of the land held by the investment projects.
The Commission approved in 2006 a new law to invest in Iraq, according to the law is responsible for all strategic investment projects of a federal nature exclusively, while the regional and provincial bodies responsible for investment planning and granting investment licenses in their areas.
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Baghdad, A member of the Economic Council of the Iraqi parliament on Saturday that the current investment law will be changed completely, and will be drafting a new law in line with the needs of Iraq's economic and accelerate the completion of service projects in the country.
The demonstrations and large seen the governorates of Iraq yesterday called for the provision of services, and speed up the completion of service projects.
Said Salman al-Moussawi, told the Kurdish news agency (Rn) "The Economic Committee in the House of Representatives is not convinced the current investment law in which they operate and the jurisprudence of the Investment Authority as shall not have economic flexibility."
He added that "the Committee decided at its last meeting the drafting of a new law for investment of more liberal constraints, and guarantee the rights of the investor on the one hand, and the Iraqi government on the other".
And confirmed the Iraqi Ministry of Planning Federal that the next phase requires the development of new mechanisms for the implementation of investment projects in the country address the problem of delay in completion of service projects.
Al-Moussawi said that "the Committee will consider a set of universal laws in the countries that have succeeded in the implementation of investment projects and was able to promote the economic betterment through those projects."
The Iraqi government plans to lift the obstacles facing investment, through the revision of the percentage that are imposed on foreign investors or local level.
He said al-Moussawi said, "the new investment law will solve the problem of land allocated to projects, as well as the problem of the old laws that have initiated during the former regime are still valid."
And impose the Iraqi government since 2006 percentages from 8 to 12% of the value of the project to the investor Iraqi graphical value of the land held by the investment projects.
The Commission approved in 2006 a new law to invest in Iraq, according to the law is responsible for all strategic investment projects of a federal nature exclusively, while the regional and provincial bodies responsible for investment planning and granting investment licenses in their areas.
http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.aknews.com/ar/aknews/2/222835/&rurl=translate.google.com
