Local investors complain "monopoly" foreign counterparts projects and specialists attribute for "humility abilities"

Author: ASJ, HH
Editor: BK, HH
22/06/2016 15:24
Number of Views: 252

Long-Presse / Baghdad

Complained Iraqi investors, on Wednesday, the monopoly of foreign companies, especially Turkish, Iranian and Egyptian vast majority of jobs and projects what forced them to share or transfer their money abroad, as promised by official bodies that the investment map and put in order the country's reconstruction and development, depending on the capacity and efficiency regardless of the nationality company executing the project, attributed the reasons for the preference of foreign companies to the modesty of the financial and technical capabilities of the Iraqi counterpart.

The owner of the contracting company Younis Hamza said in an interview to the (long-Presse), said that "85% of the investment opportunities go Turkish companies, an Iranian and a few of them go to Arab Egyptian companies in particular, despite the ability of Iraqi companies to implement them," noting that "the Iraqi investors lost hope to get In any unique investment opportunity in spite of the government, which stresses the need to support the recommendations of the national sectors, prompting them to participation of foreign companies or Arabic or transfer their money abroad in search of other opportunities. "

For his part, attributed the company owner for the implementation of infrastructure Abu Yasir al-Khalidi in an interview to the (long-Presse), the reasons for departure government for Iraqi companies as "looking for a great commissions deposited outside Iraq," noting that "the Turkish investors and the Iranians and the Arabs got on investment projects in ways that is legitimate How else can we explain their access to opportunities for well-known Iraqi companies can implement them. "

In turn, the head of the Investment Commission of Baghdad, Shaker al-Zamili, said in an interview to the (long-Presse), said that "the investment map of Iraq in general and the capital of Baghdad, in particular, put in order the country's reconstruction and development," noting that "the investment law did not specify the nationality of the company, which should be contracted, because standard efficiency is ruling under the controls and mechanisms stipulated by law. "

He denied Zamili "there is no discrimination between foreign and Iraqi investors," returned to "can any investor competition for available projects."
For his part, a senior official in the Ministry of Housing and Reconstruction, and Municipalities and Public Works, said in an interview to the (long-Presse), he said that "most of the projects put forward by the ministry to invest need to copious amounts advanced technical capabilities," pointing out that "the Iraqi companies such amounts do not have what he had The ministry orientation towards foreign companies. "

The official, who asked not to be named, said: "Iraqi investors did not move away too much from those projects They were working in under secondary contracts awarded to them by Arab or foreign investors, a task that can not be ignored, and can allow them to future implementation of major projects."

In turn, he criticized a member of the economic and investment commission in parliament Nora Albjara, in an interview to the (long-Presse), "to grant investment licenses to companies with nationalities specific way," indicating that "the entry of Arab investment companies or foreign to Iraq was too slow, and mostly unknown and a few experience but it took the lion's share has led to the reluctance of the majority of Projects directly. "

She Albjara, that "many companies in the world, but the state should choose the best and most sedate them to implement projects well."

For his part, the Federation of Chambers of Commerce, a member of Mohammed Saleh, in an interview to the (long-Presse), said that "the government that should embrace the development and rehabilitation of infrastructure with the help of the expertise of international companies," noting that "the need if called to an external capital should be done based on loans rather than investment. "

Saleh continued, that "Iraq needs to strengthen its currency, local sectors of Bmsttmrah especially after the decline in oil prices," asserting that "local investor support can contribute to run Iraqi hands and moving the market and the survival of the funds within the country and to ensure that they leave."

Saleh called on the government to "give a chance for the Iraqi investor that takes a role and compete with Arab counterparts and foreign after creating a conducive environment through activation of supporting the process of investment legislation and the provision of banking services through the development of the banking system, as well as security and political stability in the country."

The House of Representatives passed in 2006, the Iraqi investment law, which it was said at the time that it would open the door to foreign investment, due to submit a lot of facilities to foreign investors, but many foreign companies are still hesitant because of fears that the security situation is stable in Iraq, adding that the law did not give investors the right to ownership of the property the project, and equated the Iraqi and foreign investors in both franchises, with the exception of real estate ownership, as it allows the foreign investor lease the land for 50 years, subject to renewal, according to paragraph 11 of the investment law.