Hammoudi: amend the investment law presented to the Parliament next Monday to vote

News source: Ali Salman
Section: Economic page
October 15, 2015 1:54 pm

Announced first Deputy Speaker Sheikh Humam Hamoudi, announced Thursday, to amend the investment law presented to the Parliament next Monday to vote on it, said the parliamentary Finance commissions reached the final version of the amendment.

Hammoudi said through chaired a joint meeting of the committees of finance, economy and investment in the House, "the investment amendment Bill presented to the House of representatives next Monday to vote."

Hamoudi said, "this is the last meeting to reach a final formula for amending the investment act before the vote.
The Commission on economy and investment representative Izzet, on Wednesday (September 16 2015), to postpone a vote on amending the Investment Act to a desire to add some suggestions on it, indicating that it will meet with other lawmakers to discuss ways of developing the law.

Parliament was approved in 2006 Iraqi investment law, which was said at the time that "will open the doors to wide" to foreign investment, due a lot of facilities to foreign investors, many foreign companies remain reluctant because of fear of unstable security realities in Iraq, adding that the law did not grant investors the right property for your project, and equated the Iraqi and foreign investor privileges, with the exception of owning real estate, allowing foreign investors land lease for 50 years Subject to renewal, as paragraph 11 of the law on investment.