7-2-2012 Investment Law: Published decisions of the Commission amend the investment law. Committee announced the economy and investment parliamentary reaching for a set of recommendations or decisions to amend the Iraqi investment law.The Committee reached with investment and the private sector to a set of recommendations or resolutions to amend the Iraqi investment law. The parliamentary economic and investment that the Committee will hold another conference in the coming period to reach the results lead to the development of the basic frameworks Iraqi investment law.
1.) Adopting the words of House Speaker Osama Najafi, Minister of State for Parliamentary Affairs Safi, and the President of the National Investment Commission Araji, a working paper distributed to the conferees.
2.) The need to amend or cancel some of the paragraphs of laws and decisions related to investment and to assign the National Investment Commission in coordination with the bodies of the provinces to provide that the legislative amendments means the window.
3.) Emphasized the need for the owners of land to provide suitable land for the establishment of investment projects and delivered to the investor in a period not exceeding 30 days from the date of granting licenses free of concerns.
4.) To accelerate the granting of powers to the representatives of the ministries to take the decision on the establishment of projects regarding the approval of sectoral.
5.) National Investment Commission commissioned the preparation of studies about modifying the Investment Law No. (13) for the year 2006 average in coordination with investment authorities in the provinces according to the methods of legislative force.
6.) The need to" find clear criteria for differentiation in the granting of investment opportunities among investors and stay away from mediation and nepotism.
7.) Emphasize the National Authority for Investment and investment authorities in the provinces that are investment opportunities available in the light of the economic sectors and the provision of land suited them.
8.) To create mechanisms to activate the role of banks to support investment through soft loans.
9.) To facilitate the procedures for granting visas for investors, experts and engineers and manpower needed by the investor.
10.) Substances listed in the Investment Law No. 13 of 2006 gives the rate at which the investor exemptions from the decree and taxes.
11.) The formation of a joint committee of members of the Economic Committee and a representative of the Ministry of State for Parliamentary Affairs and the National Investment Commission and private sector organizations to follow up the implementation of decisions of the conference.
12.) Requires the heads of investment authorities in the provinces to report through the National Investment Commission (every three months) to the Committee on the economy and investment set out the projects granted investment licenses projects in progress and projects lagging with the reasons for the reluctance with the amounts of these projects and the dates of granting leave and start working.