Proposals to amend Investment Act will remove impediments to the investor; boost economy, says Member of Economic Commission

Date: Wednesday, 09-05-2012

Baghdad (newsletter) … Member of the Commission on the economy and investment, the National Alliance Deputy//Salman al-Musawi submitted a working paper containing proposals by several national investment Commission and the parliamentary Economic Committee to amend the investment law No. (13) of the year (2006), to boost investment in the country.

He said al-Musawi (News Agency news) on Wednesday: amendments to facilitate the granting of land be summarized for the main obstacle being investor afflict investors, eliminating the long routine through the application of the principle of single window, as well as to repeal or amend other legislation impeding investment process.

He added: the amendment of the law will strengthen the role of the private sector in National Board of investment because the small number compared with Government members, must equal the number of members in Government and private sectors or the majority of the private sector to give them the active role of promoting the country’s economy.

Noted: the investment law No. (13) of the year (2006) was one of the best laws in the region although the modern version, but it requires some modifications because we live in a changing environment requires flexible laws.

The Parliamentary Commission of economy and investment investment held last month in the presence of the President of the national investment Commission and provincial chairpersons to discuss reasons for the reluctance of investment process in Iraq and finding solutions to them