Parliamentary Economy: average investment law will open the doors wide to the Iraqi industry

[Baghdad-where] the Chairman of the Parliamentary Economy and Investment, Jawad al-Bolani, the need to end the phenomenon of red tape in the government and state institutions for the implementation of the revised No. 13 of 2006 investment law, he stressed. He said al-Bolani told all of Iraq [where], that "the investment law and the new amendments would open the doors wide to the Iraqi industry if invested well of state institutions, and to Will you be mired in red tape and some administrative procedures which the industry crashes and requirements" likely "the adoption of the amended law in the parliament session Monday next. "He added that" the government and through the Office of the Prime Minister when he began to simplify the procedures in various state institutions are important and good to enter the field of investment, development and construction of an industrial base in Iraq beginning.
"He Bolani that" the sharp decline in oil prices made ​​there is a real fastened in front of the government and all the state institutions that for no choice of national industry activating and developing the private sector in various fields and must rely on oil imports and to maximize the resources of the state to other options other than oil which converts into hard currency and fill the needs of the salaries of state employees.
"He noted that" the state's plan today is to stimulate the private sector and the creation of partnerships with the public sector and the provision and development of all technologies and production lines that help us in this area with wishing to work in Iraq's institutions.
"The head of the economic and investment commission in Parliament that" exceeded the financial crisis in Iraq because of the drop in oil prices is, however, the government and the House of Representatives and the political forces of By working together to overcome this crisis if they can rationalize government spending and the integration of institutions and attention to the spending priorities in the productive sectors of the enhanced income, especially since there are many financial assets in the country they are valuable but they are disabled and is disabled and instead of income-generating make the state loses and add the burden of debt them.
"It was the Presidency of the Council of Representatives member Hamoudi, revealed last Thursday for a solution to all the contentious points in the amendment of the draft Investment Law No. 13 of 2006 which would" facilitate and support the process of investing in different stages, particularly in the residential, industrial and agricultural area, "referring to the possibility of "vote in the parliamentary session for next Monday."
with the exception of a member of the economic and investment commission in Parliament, Burhan al-Mamouri law if passed by Parliament that would make Iraq "a unique all countries in the world in terms of facilities and encourage investment, from within the granting of loans to investors and their right to international prosecution If there is a dispute in the implementation of the contracts.
"said Mamouri's [where] the seventh of this month that" the amended investment law would give great facilities to investors, and is required to run 70% of the Iraqi labor in the projects, "he said." After the law was passed in the House of Representatives There will be a positive step in the field of investment in various infrastructure projects and achieve the quality of the investment boom, if the law work properly, ".