National investment confirms that international companies have the confidence of the Iraqi banks
National investment confirms that international companies have the confidence of the Iraqi banks
13/02/2012 11:44
Baghdad, February 13 (Rn) – The National Investment Commission that international companies do not object to the performance of Iraqi banks, saying it decided to open the door of investment to build 100 housing units in each of the provinces of Basra and Mosul. The Economic Commission has called last week to provide banking facilities corporate foreign investment , said head of the investment Sami al-Araji, told the Kurdish news agency (Rn) that “the investment companies in Iraq does not have any problem in the work of banks.” and added that “the investment will be within the project of one million housing units of investment projects in the provinces of Mosul and Basra.” The that “the Investment Authority gives priority to the display housing projects and services in coordination and cooperation with all ministries concerned including the Ministry of Construction and Housing, Municipalities and Public Works and provincial councils.” and watching the World Bank, the process of development and investment in the country by a team of experts
headed by Iraq’s economic Majid picture. and called the bank Bank, the Iraqi government for activating the Single Window and the formation of a committee of senior officials to facilitate the entry of foreign companies in order to promote investment in the country. and the Commission announced the economy and investment representative, earlier, support for the orientations of government efforts to an amendment to the Investment Law in force No. 13 of 2006, shown that the problem of land acquisition by the investor is still the problem is more complex. and Iraq admitted in 2006, Law No. 13 for investment to encourage foreign companies to enter the country and to contribute with the government’s efforts for the reconstruction of infrastructure dilapidated by war and siege. and the First Amendment, conducted by Iraq to the Act in 2009 allowed the foreign investor the right to own land and property belonging to the state allowance determined in accordance with special regulations, and has also the right to own land and property belonging to the mixed and private sectors for the purpose of the establishment of housing projects. From: Jafar Allonan, the Open: Fadi Zeidan