Expert: World Bank report on investment in Iraq was “not encouraging” ..

Expert: World Bank report on investment in Iraq was “not encouraging” .. The next five-year plan will not solve the problems of investment

Date: 11/26/2012 12:35:00 Monday

Baghdad (news) .. Chief Economist Bassem Jamil, the latest report issued by the World Bank on investment in Iraq was “not encouraging”, and should benefit from the reform of the national economy, adding that the five-year plan the next will not achieve success without the presence of solutions to the problems of investment.
Jameel said (of the Agency news) on Monday: there are many problems prevented the advancement process investment in the country, including related legislation legal and other red tape and the banking system is evolving, all contributed disenchantment investors for investment, prompting the World Bank to classify Iraq as part of underdeveloped countries to invest. added: that assess the World Bank for business and investment in Iraq was “not encouraging” and must take advantage of it in the diagnosis of constraints and work to remove them because the World Bank when setting standards and gave a score for each country This is based on a set of international standards can use international organizations and reports for the advancement of the national economy. pointed to : The five-year plan for economic development to be implemented by the Ministry of Planning will not achieve great success despite the allocation of $ (250) billion dinars if they are not working towards reforming the economic situation in the country and removing all the obstacles that stand in front investment. mention that the World Bank Class Iraq Grade (165) among the worst countries to do business, and someone three major hurdles to do that is twice the electricity supply, and political instability, corruption, and generally, the Iraqi companies lose 22% of their sales as a result of weak investment climate. / end / 8. d. Q /