Economy Committee discussed Second Amendment to Iraqi Investment Law No. (13) of 2006
Economy Committee discussed the Second Amendment to the Iraqi Investment Law No. (13) of 2006
The economic and investment commission hosted a meeting headed by MP Jawad al-Chairman of the Committee on Wednesday 30/9/2015 Chairman of the National Investment Commission, Dr. Sami al-Araji Raoof, to discuss the text of the Second Amendment to the Iraqi Investment Law No. (13) of 2006.
The MP-Bolani at the beginning of the meeting that the texts of the Second Amendment to the Iraqi investment law has been completed once and for all, after included several paragraphs, most of which came modern concepts will be applied for the first time in the economic arena of Iraq, and that will meet the efforts of local development, as well as meet the Iraqi and foreign investors ambitions Alike.
Bolani He said that the recent additions to the law will have a significant positive effect for the benefit of the Iraqi economy and ministries that currently rely on the budget base class allocations, which will open in front of her prospects enable it to invest the full resources and energies, assets and even its territory through cooperation with the private sector, which will have the role of investment projects the largest in achieving development.
He Bolani said sectors and local segments will benefit from the provisions of the law to move toward investment, for example, the right of agricultural land owners to establish related to the agricultural sector industrial projects, such as the manufacturing industries and the canning and the production of bags and other factories that revive this sector and pay it to the evolution rapidly.
On his part, Chairman of the National Investment Commission Sami al-Araji, expressed the hope that the passing of the bill as soon as possible to take advantage of its provisions in the activation of the investment side, which will be the key to the most effective solution to mitigate the consequences of an economic crisis the country is experiencing now, as well as providing safer and more environment ability to attract investors, whether they are Iraqis or Arabs or foreigners.