Parliamentary Finance: investment project gives right for gov't to withdraw the proj.
Parliamentary Finance: investment project gives the right for the government to withdraw the project from the investor after the six-month period
Our economy / Baghdad - MP for the mass of the citizen and member of the Finance Committee Faleh force that the main difference in the draft investment law is to add the theme of "developer" and that his role larger and wider than the main investor, a new paragraph was added to the law.
A press statement applicable to the Agency "our economy" we have suggested that the news be "developer" outside the basic design of the project and possible to take advantage of its capabilities beyond the basic design of the project.
He added that the project board holds state financial consequences of being a problem, according to the Commission on the economy of the eleven members and those Asthsalon on Mcavaouat and salaries".
We explaining sought to keep them from their number but without giving them financial Mcavaouat".
He said in effect that the foreign investor and also Matrouh receiving the law on banking facilities, a bone of contention and controversy and we raised that have been done of the project rate of 25 percent until the grant of these facilities."
And he told the foreign investor that up to 40 percent the proportion of the establishment of the project until the announcement has the right to sell what has been accomplished from legitimate citizens."
The draft investment law gives the right for the government to withdraw the project from the investor after a period of six Achehrolm up to a ratio of 40 percent and above and the imposition of fines and legal consequences in case the company fails to complete the project."