Economic Commission: the need to amend the law becoming urgent investment

Baghdad (newsletter) … Member of Commission on economy and investment Deputy/block/National Alliance, Abdul Abbas sheyaa, that the Investment Act to an urgent need to amend some paragraphs to keep pace with investment laws in the world.

Sheyaa said (News Agency news) on Sunday: that the Investment Act requires many adjustments to keep pace with investment laws in the world, noting the existence of many formal investment laws do not apply to the ground, in particular the topic of single-window and leave land for Arab and foreign investor.

He said that the foreign investor when resorting to invest in Iraq needs to long to get investment as a result of frequent leave reviews and this is applicable globally in the single-window code, and sometimes gets to leave Investor investment but when go to place investment faces challenges on land granted for the implementation of the project and the difficulty of alviza difficulty in approving investment projects.

He said: in (2008) modified on investment law No. (13) of the year (2006), where he held House investment conference under the auspices of the Committee on the economy and investment, a Committee was formed and investment from the private sector for the purpose of research in law and investment in existing investment constraints exercised by the Executive Committee heard of investors and examined the observations in the light of this Conference was to put pressure on the Government to amend the law