Representative economics: Amending the investment law in Iraq needs one week

by **claud39** Sun May 09, 2021 6:31 pm

Representative economics: Amending the investment law in Iraq needs one week

May 09, 2021

Representative economics: Amending the investment law in Iraq needs one week 1024

Mubasher: The Parliamentary Economic and Investment Committee in Iraq confirmed today, Sunday, that the amendment of the investment law depends on the work of the House of Representatives during the coming period.

A member of the committee, MP Mazen Al-Faily, told the Iraqi News Agency (INA), "The amendment of the investment law depends on the work of the House of Representatives through regular working hours and sending a letter to the committee during the coming period."

He added, "Amending the law does not require a great effort, but rather amending the paragraphs that need to be amended, hosting officials, then reading it a first and second reading and then voting on it," stressing that "this process only needs one week."

Earlier, the head of the National Investment Commission, Suha al-Najjar, confirmed the existence of gaps in the Iraqi investment law.

And she said in an interview with the "Missing Facts" program broadcast by Al-Iraqiya Al-Akhbariya and followed by (conscious), that "the Iraqi investment law contains minor gaps, and for many years corruption has dominated investment."

She added, "Corruption and political pressures have delayed the completion of investment projects for years," noting that "most investment projects have been restricted to some people for years."

She pointed out that "there are huge numbers of fictitious residential and agricultural projects," noting that "the fake projects are a burden on the organization."

She explained, "About 1000 fake licenses were granted 10 years ago," stressing that "some investors are working to establish 20 percent of the project to obtain exemptions."

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