Investment pass a law this month

by **Ponee** Sun Oct 04, 2015 7:57 am

Suggested the committee «economy and investment» parliamentary, pass the investment law in the parliament during the current month sessions, stressing that «two fundamental points» setting off to delay the adoption of this law, which was hoped to be voted on before the Eid al-Adha holiday. She by Nora Albjara Committee told the «morning» Commenting on the importance of this law: that «important and will change a lot of obstacles facing investors, especially that the country is looking for other financial resources after the fall in oil prices» She added, that «the Commission ended all comments were added to the law in the last session of parliament that preceded the Eid al-Adha », stressing that the committee met with the First Deputy House of Representatives to the President, Dr. Hamoudi, this Algrd.utabat in this context:« was in the meeting, asking all what is possible to add some political blocs on this law in order to not be the there are problems during the vote in the parliament. »to postpone the voteMP Albjara, pointed out that the committee« I was surprised by the request of the Presidency to postpone the vote on the law, despite his presence on the agenda grounds that the presence of some of the proposals of the executive bodies did not add to the law ».waodan, that« the most important points that objected to by the executive bodies, lies in that the post of head of the investment rank of minister after the Committee voted to have the rank of Deputy Minister in line with the government's measures to reduce positions ».otry Albjara, that« This topic surprising because what is put forward by the Commission is not commensurate with the reforms advocated by the Government in terms of reducing special grades, because in this case would be for the government armies of retirees degree two managers who finish their service in those bodies ». special interests and the postponement Committee expected to be postponed Law proposed by the Commission and materials will benefit the investment and facilities in respect of, by, but it was discovered that the topic «related privileges and preference for private interests to public». With the second objection point stipulates «Enjoy the heads of investment authorities in the provinces privileges general managers during their presence in office , But Investment Authority insists on retaining their grades if they came out of the post ».obescon most prominent materials that will encourage investors to set up projects in the country, signaled a member of the economic and investment commission, that« the law has encouraged Iraqi and foreign and mixed private and public sector in the new investment projects » . Also supports the «single window so that there will be delegates from government agencies have the powers to grant approvals for investment projects, and to facilitate access to land for the establishment of investment projects and encourage the population to expand beyond the basic design, and encourage Iraqis and foreign investors after participating with Iraqis by giving them soft loans, bound to be a ratio achievement of 25 percent and guaranteed by the project »Economic .almusharah, also said« law put obligations on the investor in the event of failure to restore the property to its owner with a fine of $ clipper, and the introduction of a new concept of investment similar to the developed countries implement strategic projects himself or by a third party. » as well as «oblige ministries and departments not associated with the Ministry to provide good real estate to set up investment projects, and the granting of privileges and exemption from taxes and fees for investment projects on imported assets before startup, and exemption of investment projects from taxes for 10 years». as well as «the exemption of imported raw materials for commercial operation of the project fees and taxes, according to the proportions of the contribution of local materials that go into the product industry to encourage the utilization of the domestic product of Iraq, and to require government agencies in cooperation with the Organization for the completion of the direct investment project requirements within a period of 30 days after the issuance of the license ». In the end of her statement, Albjara expected, to see the law light during the current month after the end of all comments received it, suggesting that «if there were the will of the fact that the executive bodies to take advantage of this law will see the Iraqi investment and investors an opportunity to create a private in the safe areas in the center and south of major projects».

http://www.alsabaah.iq/ArticleShow.aspx?ID=101421