Iraq raises State enterprises for privatization and investment 10/10
Iraq raises State enterprises for privatization and investment NEW MORNING IRAQI AFFAIRS OCTOBER 10TH, 2015
To address the lack of imports within the reform policy
Baghdad: new morning: The Iraqi Government plans to ask companies to investment and privatization in a bid to meet shortfalls in its imports from low world oil prices.
A spokesman of the Office of Prime Minister Saad Al-Hadithi, for each agency Iraq "where" days before the decision of the Council of Ministers with regard to the self-financing companies merge, Ministry of industry and minerals, this decision came as a prelude to open investment and privatization of these companies ask for a subscription or internal and external investment.
He explained that "the process of downsizing and consolidation of these companies is an important step to finding a suitable atmosphere to start the privatization process and thus activating the role of investment in reproduction of the factories that once covered a large part of Iraq's needs."
Hadithi stressed "the need to find product and consumer protection laws and customs tariff and the supplementary and complementary to the restructuring of the economy and this is working out, respectively, there are legislative side topic not only operational procedures." The spokesman promised the Prime Minister's Office investment code be presented in the Parliament for approval after the amendment as "a basic law on the creation of a legal environment conducive to attracting investors and must take into account that the Iraqi market should be bringing investment and this is not only adequate legal environment. And incentives and encouraging investment to enter the investment arena.
The Cabinet had decided at its last meeting last Tuesday to merge public companies belonging to the Ministry of industry and minerals and self-funded together according to the principle of PM discusses in public administrations and technical activity similarity and geographic location and rename the merged companies as appropriate.
Iraq is facing pressure to provide financial resources and especially after lower oil prices in July 2014 which relies on crude imports 90% of building balanced with the need to cover the costs of the war on terrorism and secure services and staff salaries and retirees