Lessons in attracting investment

5/18/2017 0:00

Dr.. On behalf of the Patriarchs
Ten years after the enactment of the Investment Law No. 13, the question that imposes itself strongly is: Why did not succeed in attracting foreign direct investment? And why others succeeded although some of them are not better off us? Is the reason or the law or the investment environment departments based on the application in which the bodies formed?

What I say others have succeeded here cite some international examples of this, in Georgia and in ten years (which is the same period in Iraq) was able to attract major international companies and accomplish the task of strategic projects in a small country with an area less than almost a quarter of the area of Iraq, noting that the number of workers in the Georgian investment Authority are only seven ten employees Yes seventeen employees only.

We have taken deliberate steps began identifying land available and then prepare economic feasibility for the establishment of projects on studies by international companies and presented to investors or elected companies, so simply and when these projects began to work has become the success stories have contributed to drawing attention to Georgia, it has been able to Georgia in 2015 attracted more than a billion and a half billion dollars of investment Alajunbah.mthal another closer to us geographically is Turkey and in the context of strengthening the investment environment Turkey has two steps in this important side had two clear impact in attracting foreign investment, the first step was the establishment of the Council of National coordination in order to improve the direct investment environment and the development of policies that help to increase the competitiveness of products local.

The second step has been the creation of the International Advisory Board , which includes executives of the top twenty foreign companies in Turkey to attend the working day with the Turkish Prime Minister and Minister of State for the economy to address the problems of investors and out each time a number of recommendations, Turkey has succeeded in attracting more than fifteen billion dollars of foreign investment last year.

From these two examples Albesatin can say that the problem centered on investment management and the size of the care that they deserve Act Iraqi investment holds many attractive features but one of the pillars of the investment environment , and not all of them, and therefore if we want to attract foreign direct investment , we benefit from the experiences of