23/10/2011
Calls for sustained investment to overcome the limitations
بغداد - الصباح BAGHDAD - Al Sabah
Stands investors wishing to work within the country at the determinants of the investment process, emphasizing the importance of providing the appropriate climate to enter the capital which employs the service of the Iraqi economy in all sectors of service and productivity, where you find the provision of investment environment, the most important demands of the investment process, in addition to addressing the old legislation that are inconsistent with the new reality.
In this regard, says a member of Business Council, the Iraqi National Abbas Alkhaski: that investment is important for the country and after the improvement of security situation and found Toalfda corporate investment international and Arab Iraq and study the reality of investment in all its details, with stand all the companies in the Investment Law No. 13 of 2006, as amended, which represents the most important axes the investment process in the country, because it provides a suitable environment to begin the process of reconstruction and construction and the influx of foreign capital into the country.
Continues ...read more ..
He said economic expert Alkhaski that the reality of work and legislation of new clash today, the decisions of the window back to before 2003 and Ataatlam with phase shift foreign to the country, which requires a stop at the previous laws that are disabled for the investment process, pointing out that after obtaining the investment companies on a vacation investment facing legal obstacles are many, because the circuit depends Help legislature does not fit with the reality of local action.
He noted that the speed of business depends on the availability of the legal environment and facilities provided by government departments, which accelerate the procedures and away from the complexity in dealing with local and international investors, stressing the need to use from the experience of the Kurdistan region and has achieved leaps of investment is fast, especially since international companies began to enter the province of Basra to work in the field of oil and non-oil and this requires taking care of the investment process, which will bring the heads of big money into the country.
Alkhaski pointed to the importance of adopting a tax system flexible facilitate smooth entry engineering equipment and logistics involved in the investment process and provides environments attractive to modern technology through which is the implementation of projects large and giant, and the complexity of the exercise at border crossing points will be repellent to the capital next to the country and that we desperately need it for the time being increased, saying the case the investment in the country need to review all laws in force, and carefully examined, and approval of amendments or new laws that fit the current stage.
As that work today requires approvals lot of different departments and this is one of determinants of the new work of investment in Iraq, which leads to the creation of new mechanisms to speed up the implementation of projects to overcome the determinants of investment business in Iraq, which leads to faster implementation of projects on time.
Pointing to any disruption of work is witnessing an increase in financial expenses and lead to an imbalance in the approved budget for the project, also called Alkhaski to the need to reduce Alberoukatih and corruption that accompanied the work of investment by some weak people who Arbikun action and implementation.
The issue of housing projects said that the investment organizations working to provide the appropriate environment for the implementation of projects, housing in the country, but the overlap of powers confuses the investment business in this aspect, which made the National Commission for investment comes foreign firms to implement the project Basmajh residential, which is the first step on the road new projects in this field, because the investor today lack the presence of financial support and guarantees are different, most of the land is disputed and there is difficulty in obtaining them, either government-owned banks and private not offer any support and financing to the investment process, and in all sectors and thus find the investment projects is limited to the lack of ground fertile to activate this side.
He noted that the investment project was referred to the investment company since 2004 at a cost of 25 billion dinars have been handed in the ground, but during 2011 despite the payments that link (500) million since 2004 and this caused confusion in investment business, but not over this issue at this point, but we faced the problem of ownership of part of the land of the project is due to a government ministry and entered it in a spiral of hiring this piece to the project and after the trouble long been given a piece of land to the investment project, and so find the reality of investment in the country need to work environment provided by all institutions associated with the process of investment.
link
