Wednesday, March 2, 2011

3-2-11 Abdul Hussain Abtan: There are problems in the implementation of the investment law in Iraq

Highlights/Thoughts
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1. A member of the economic and investment commission said there is a problem in the implementation of the investment law
2. He said the investment law in force is good, but the problem is related to its implementation and how to deal with the investor
3. He pointed out there are multiple ways and great care should be carried out by the authority of the state or government to attract investors
4. He also said that the investment in Iraq are subject to security and administrative corruption as well as the administrative system all of which Iraq is still suffering from problems right now
5. He said Iraq needs the will and the integration and harmonization of the public network responsible for the investment sector to promote it better
6. A member of the commission of economy and investment said Iraq doesn't do a good job on the subject of investments. Today, they leave a lot of investments to the governorates, but they don't track the investment projects well
7. The head of the national investment expressed the readiness of the commission to grant all facilities and privileges guaranteed by the investment law for investors who wish to work in Iraq
8. He noted that the Iraqi market is a promising and fertile environment for investments and the Iraqi private sector needs the experience of large companies in various economic sectors

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