In the parliamentary economy reveals the most prominent member of the investment law amendments, including the International Arbitration

Detection of the economic and investment commission parliamentary member Othman Doski, for highlighting the amendments and additions made by his committee in a draft amendment to the Investment Law No. 13 of 2006.



He said Doski told all of Iraq [where] "We have to add several points in the Investment Law and them to give the ministries allocated to them to invest territory to the national investment to be the only party responsible in the allocation of land and the granting of these investors."

"As we have given permission to the provincial council in the candidate chosen from among the three conservative introduce them to be president of the Investment Commission of the province."

Doski He pointed out that the amendment included the "one window and the new law says that every ministry in the committee that window member to facilitate the task of the investor rather than his own ministries to review the collection of investment licenses as they contribute to reducing red tape."

He pointed to the possibility of recourse investor to international arbitration in case of problems with the Iraqi Investment Commission, "noting that" before the amendment of the Investment Law was invested when you get him the problem with the Commission a complaint to the Iraqi courts only and this was worried about him the investor, but after the amendment, according to the contract with the Authority was given the right of the investor to complain out of Iraq. "

He explained to the parliamentary economic committee member, said "The committee worked for nearly eight months on the amendment and the addition of several paragraphs of the investment law in order to strengthen the economy and investment in Iraq and the country no longer be dependent on imports of oil only."

Hkan Chairman of the Committee of Economy and Investment parliamentary Jawad al-Bolani said last month, "The second draft amendment to the investment law will be presented to the final vote in the coming period, and would be a great achievement of the legislative side of the Iraqi economy," stressing that "the introduction of a number of radical law changes, which will be an important factor in creating excellent investment environment and meet the aspiration of all parties. "

It is said that the reforms included in the government's economic hub attaches crisis cell to take appropriate decisions to activate the movement of investment and stimulate the private sector.

Also included activation of loans to stimulate the economy in the country, and operation of the unemployed, both endorsed by the cell in respect of loans scheduled for the industrial sector and the agricultural sector and the housing sector amounting to 5 trillion dinars, with regard to loans to support small projects amounting trillion dinars, and the committee in charge of the development of mechanisms to provide its recommendations before the end of this Alasbua 

   SOURCE