Passing the investment law within two weeks.. What are the positives?
Passing the investment law within two weeks.. What are the positives?
2024-09-07
Alsumaria News – Economy
The Parliamentary Investment and Development Committee expected, today, Saturday, to pass the Industrial Investment Law within the next two weeks in Parliament, while it spoke about the advantages and positives of this law.
The deputy head of the committee, Hussein Al-Saabri, said in an interview with Sumarya News, “Parliament will approve the industrial investment law within two weeks, and this law is one of the most important laws that serve the industrial investor in Iraq and raise the pace of industrial movement in the country,” indicating that “this law includes customs exemptions and land ownership for the investor inside and outside the cities, with the precise identification of industrial areas within the cities.”
Al-Saabri added, “The law also includes the protection of foreign investors, their money and ownership within new industrial districts and areas with certain controls,” noting that “the law is currently in the linguistic and legal amendment stage in preparation for presenting it to parliament sessions within two weeks for the purpose of voting on it.”
Al-Saabri considered that “the approval of this law represents a qualitative leap in Iraqi industry,” noting that “the law will greatly reduce exceptions, but rather there will be fair competition between companies and entities that win project contracts.”
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