Its time to revamp laws hindering foreign investment, says Secretary General of Council of Ministers

Posted by on Oct 28, 2013 | Leave a Comment

Sec General calls to raise the old laws faced by foreign investors

14/10/2013 17:11
the Secretary General of the Council of Ministers on the Keywords, on Monday, the legislative and executive branches to raise the old laws faced by foreign investors, saying that the real investment needs to be supportive of laws and appropriate ground for foreign investors.

Keywords said “tomorrow’s Press,” that “the legislative and executive branches to raise the old laws faced by foreign investors with respect to the banking and Alkmarki sectors and to allow them to exercise their investment activities under the umbrella of the supervisory authority Tiei.”

He Keywords that “the feet of nature used to manage the investment in Iraq cripple the movement of the investor does not provide a formula required to work,” noting that “the laws of banking, customs and administrative red tape in place is not commensurate with the need for Iraq to enter a foreign investor to engage in foreign companies to work in the country and this is what makes investors think a thousand times before putting capital project in Iraq. “

Keywords continued that “the government and the House of Representatives are working on the development of supportive laws for investment and stimulate entry of capital to work in Iraq.”

It is noteworthy that a lot of foreign companies expressed a desire to enter Iraq to participate in the reconstruction of Iraq, but that the complex investment laws and the security situation has prevented the entry of many of these companies.

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