House of Representatives postponed a vote on the investment law and to raise its next
House of Representatives postponed a vote on the investment law and to raise its next Tuesday
BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - for the House of Representatives vote on the investment law next week due to lack of quorum.
A member of the parliamentary Economic Committee Najiba Najib's (IMN) "The Presidency of the Council of Representatives to raise its meeting next Tuesday," indicating that "in order to vote on the Investment Law to the next week."
She added that "one of the reasons that led to the postponement of the vote on the law is the lack of a quorum, as well as the existence of some differences on the paragraphs of the law in some blocks."
Deputy Chairman of the Committee of Economy and Investment parliamentary Harith al-Harthy said last week, that one of the paragraphs of the amendment of the Investment Law include Iraqi ownership of the land to the foreign investor and not leased, which means that Iraq will sell his land grounds that bring investors, calling for the amendment of this paragraph.
Re: House of Representatives postponed a vote on the investment law and to raise its
Minutes from Parliament' Session today says they will reconvene tomorrow, 20 October 2015, not next week as above translation states.
In today's minutes, it says: "The Council proceeded to vote on the draft second amendment bill to the Investment Law No. 13 of 2006 and submitted by the committees of economy, investment and finance, which aims to facilitate the organization of work in the investment bodies and address some of the constraints shown by the practice in the application of the Investment Law No. 13 of 2006, as amended, and to create an encouraging and favorable investment climate in all sectors and the granting of privileges and exemptions and soft loans attractive to investors and to allow the ministries to share with the private sector (Iraqi and foreign) and mixed for the rehabilitation and operation of its companies to be reflected positively on the industrial development and reconstruction of Iraq.
For his part, Mr. al-Jubouri said the completion of the vote on the bill in the next session.