The parliamentary economy reveals efforts to amend the investment law to increase opportunities

Information / Baghdad … The Committee on Economy and Investment parliamentary, on Wednesday, seeking to amend the investment law in the coming days to increase foreign investment, indicating that the current law is an oppressor for all investors.

Nada Shaker Jodat, a member of the committee, said in a statement that “the parliamentary committee on economy and investment is looking at rewriting and amending the investment law and granting it economic flexibility away from the bureaucracy.”

“The amendments to the law will grant the investor new concessions to encourage investment and pumping money in the Iraqi market, as well as the formation of a joint committee of all circles to give the investor leave without review dozens of competent departments.”

“The law will give the prime minister the power to contract directly with the investor or to form a higher authority capable of granting investors visas and banking facilities,” Judd said.

“The amendment of the investment law is an important point to eliminate unemployment and the return of industry and the private sector in Iraq and raise the market value of the Iraqi dinar in light of the inability of the government investment budget to make any development mentioned in all sectors.”

Source: Almaalomah.com