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Parliamentary Commission of Economy and Investment Authority discussing the texts of the Second Amendment to the investment law before it is submitted to a vote


The Commission on Economy and Investment parliamentary headed by MP Jawad al-Bolani with the head of the National Investment Commission Sami Raouf al-Araji, the texts of the Second Amendment to the investment law number (13) of 2006 before it is submitted to a vote in the House of Representatives.
A statement to media department of the House of Representatives for Bolani as saying: "The committee of representatives of ministries and agencies of the Iraqi concerned hosted the property of third.
He continued Bolani "We are currently working on include the investment law provisions that allow these entities to exploit its resources and access to the world of investment and achieve financial resources are added to the annual allocations,

And can take advantage of these resources to improve their services or horizontal and vertical expansion.
"For his part, Chairman of the Investment Commission Sami Raouf al-Araji," that explained the draft second amendment to the law written based on two factors, the first is to try to avoid problems and constraints that have emerged during the implementation of the law since its entry into force until today, and the second is to keep pace with global developments and try to create a law is able to compete with the region's laws up to the world to ensure attract investors.

"It was decided during the meeting to agree on several provisions that will increase the size of the powers of the Iraqi ministries to invest capabilities In the investment side, as well as to include the draft law some mechanisms in place for the first time, including arbitration and the Union of investors and an end to the problem of ownership of land and roads awarded for investment.

On the other hand, the Iraqi National Business Council submitted a proposal to the House of Representatives of the four paragraphs to be included in the draft investment law prepared for the vote.
The head of the Council David Abdul Zayer a press statement that the paragraphs that have been sent to the Committee on Economy and Investment parliamentary inspired by the experiences of others is characterized by Iraqi law, the laws in force in the region and in order to be quick and easy application without hindrance to remember.

He said that "the first paragraph included the granting of investor within the investment cities / residential, industrial or tourism or media, commercial or other / right to enjoy the investment law and obtain an investment license within the city granted an investment license also straighten the legal status of land use to the second investor either lease or acquisition if the city industrial or residential.

She called the second paragraph releasing the investor of all taxes, fees and customs of all the raw materials and supplies production in line with the direction the government of preventing the import of non-economic and non-essential and the promotion and protection of the national industry and confirmed the third paragraph he must investment project enjoys the privileges of all the laws in force in addition to the investment law.

He called on the Council in fourth paragraph based on the study of the project in the economic and investment commission that has invested in all industrial laws such as the Industrial Development Law No. (20) in addition to the investment law.
"The draft investment law reached the final stages, awaiting degree in one of the meetings of the Council in order to vote on it.

And stressed the Presidency of the Council of Representatives member Hamoudi, the need for the completion of the investment law and approval as soon as its importance in activating the national economy and promote development wheel, as well as its contribution to reducing unemployment.
According to a statement of the Information Office of the First Deputy Chairman of the House of Representatives, "he said Hamoudi chaired a meeting with the Commission Parliamentary Economy and Investment, in the presence of Chairman of the Investment Commission Sami al

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