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One of the service projects in Dhi Qar Governorate
Economy News - Baghdad
The Parliamentary Economic and Investment Committee attributed the reluctance of capital projects to granting investment licenses for projects to persons and "unqualified" entities.
The head of the committee, Riad Al-Tamimi, said that during the meeting, which brought together the members of the committee and the director of investment in the State Real Estate Department, discussions were held to facilitate the process of allocating investment permits in accordance with the laws in force.
He added that the meeting stressed "the necessity to direct investment opportunities to service and industrial projects that contribute to the country's economic development."
Al-Tamimi pointed out that there are lagging projects in Baghdad due to the granting of investment licenses to those projects to unqualified entities and people, which caused the suspension of projects that could have contributed to spinning the wheel of the Iraqi economy.
He called on "the Baghdad Municipality to reduce entertainment investments and compensate them with economic development investments that can benefit the Baghdadi citizen."
Al-Tamimi stressed: "The next stage will be for the Economic Committee to continuously follow up the investment projects in the capital, Baghdad, through good selection, follow-up and control, as well as accountability for those who prove their negligence, whether with intent or negligence."
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