6 Government steps to develop the business environment and improve the investment climate

by **claud39** on Mon Jun 17, 2019 6:01 pm

[size=36][rtl]6 Government steps to develop the business environment and improve the investment climate[/rtl][/size]

Monday 17 June 2019

6 Government steps to develop the business environment and improve the investment climate 980-Alsabbaq

Baghdad / Farah Al-Khafaf

As part of efforts to improve the business environment and improve the investment climate in Iraq and in line with the government program, a joint meeting came out with an agreement on six steps to achieve this.
According to a statement of the Secretariat of the Council of Ministers received a copy of the "morning", the steps are: "the preparation of a database of land offered as investment opportunities, and provide facilities and bank loans, and ports and customs, and registration of companies, as well as the granting of entry features, and encourage the tourism sector.

In this regard, economist Saad al-Zaidan counted these steps as a "road map" to develop the Iraqi economy and diversify imports.

Facilities and Services

"Providing land, granting loans, registering companies and granting entry visas are very important for attracting capital and local and foreign investors," Zaidan said, noting "the importance of their application on the ground."

He continued: "The facilitation of the granting of visas, an important step, and should be provided to Iraqi investors abroad and foreigners other facilities as a hotel or the allocation of vehicles or facilitate their access to offices and other services."

Financial returns

Regarding the other steps, Al-Zaidan said in a statement to Al-Sabah that "the focus on ports and customs is important in several points, including the protection of the national product, which means the operation and sustainability of factories and factories, as well as financial returns, as well as control over imported goods Damage to the public good. "

He stressed the importance of the tourism sector, stressing that "the need to pay special attention to him, especially with regard to religious tourism, as millions of visitors flow annually and spend a lot of money, which can be used to revive markets and increase revenues."

Overcoming Obstacles

The Secretary General of the Council of Ministers, Hamid Al-Ghazi, stressed the need to coordinate efforts and overcome obstacles to the implementation of the governmental curriculum set by the government and its policy in focusing on developing the reality of the business environment and improving the investment climate in Iraq.

He pointed out "the importance of adopting real steps to attract investments to the country, in addition to activating the partnership between the public and private sectors to implement strategic projects that positively affect the national economy and are in line with the aspirations of Iraqi society."

The meeting was attended by representatives of the relevant sectors, as well as representatives of the private sector and a number of local experts and investors, to review and amend the laws, regulations and procedures for improving the business and investment environment in Iraq.

Proposals and recommendations

The meeting discussed, as well as the six steps, "ways to address the procedures associated with each axis and identify the parties involved, and the meeting included discussion paper proposals submitted by the Iraqi Economic Council on the facilities granted by the government to support the private sector.

The meeting concluded with a number of recommendations, the most important of which is "to set the beginning of this week as the deadline for including proposals for the development of the six axes, taking into consideration the legal cover for the procedures that will be amended and agreed upon before finalizing them to the Council of Ministers for decision. To organize and manage the business and investment projects to promote the country's current situation in different sectors.

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