Zamili: guarantor of the Investment Company Act not to confiscate invested projects

[yota691]

Zamili: guarantor of the Investment Company Act not to confiscate invested projects

 

 

         

1/27/2015 0:00 

At the crossroads {morning} economic 

 BAGHDAD - Hussein al-Tamimi Tgb - thank Fatlawi  

investment hub last adopted by the Economic Forum the morning with a view to opening up towards the achievement of sustainable development, and that which they discussed the most important challenges which stand in front of the presence of the giants of the work in the world and put the necessary treatments in this circumstance Everyone touching the need to create the necessary environment to attract international effort developed.   

Prime Investment Authority, Baghdad engineer Shaker Zamili said that the investment law began to push for economic and social development process and development, where it was the Investment Law No. 13 of 2006 amended the National Investment Commission is responsible for national policies for investment and the development of plans and controls, monitor their application in the field of investment fee and specializes in the federal nature of strategic investment projects exclusively. 

Investment Guarantee Zamili between that of the most important methods used by countries that have preceded us successful their experiences is to provide guarantees and benefits to investors, pointing out that foreign investment companies You can not work in any country without it.  He said the most important safeguards provided by the Iraqi investment law for investors in terms of their projects and the money that they have entered into Iraq, which is for investment guarantee against non-commercial risks that (political) and other risks. He noted that the most prominent of those guarantees lack of confiscation or nationalization of the investment project is covered by the provisions of this law both the part where he is one of the main topics that thinks investors, especially in countries undergoing political transformations in transition. attractive environment forgovernor of Baghdad, Ali al-Tamimi student working on the concerted efforts of all stakeholders to create a work environment attractive investments for all parts of Iraq, especially as the country is experiencing problems can not be solved only through investment, particularly the housing crisis. The experts Cdo economy in more than one occasion the country's need to nearly three million housing units, to ease population pressure in the city of Baghdad and the cities of Iraq because of policies erroneous housing, which was followed by the year 2003. As head of the parliamentary Economic Committee Jawad al-Bolani stressed the necessity of activating the productive sectors to be the starting point for the process of economic development, stressing that the agricultural and industrial sectors, that can Sanda be president to support the federal budget. He pointed out that the development process in the productive sectors require support from the banking sector and the investment of cash Alklth in the service economy and the preservation of capital cycle inside Iraq, pointing to the importance of the work to create the conditions for activating the banks Aldharov and make it a major contributor in the development process. Bolani between the importance of working to increase investment awareness of the staff of institutions associated with this joint is important in economic life, stressing the need for cooperation with the investor. Post-Arab was present in the meeting and asked the lady of the Republic of Lebanon is working to one of Lebanese banks in Iraq, the need for the government encourages investment business within the country, and there are special facilities for workers in the investment sector referring to the delay in obtaining a visa Iraq. Shaker Zamili returned to talk about the challenges faced by investors in Baghdad, particularly the lack of adoption of government departments, all the terms of the Investment Law, and the lack of a banking system that supports investment projects and facilitate the movement of funds into and out of Iraq, where most of the existing banks not qualified to do the financing of investment projects and also can not issue and receive letters of great warranty. routine procedures , said Zamili: that competent and appointed the process of investment circles have not been implemented logistics configuration required to receive investment for example in Baghdad is still the design basis of date and not keep pace with the current vision or future upcoming projects and even the current as more farmland is not updated their sex, especially that the land is arable and convert Sex those lands are long procedures routinely exceed 360 days while the investment law provides for the granting of the license in a maximum period of 45 days, as well as the case of maps and archives Engineering needed by the investor as most of the land in Baghdad have not buckle waypoint (utm) and found they are old and not up to date.activating the industry in spite of our efforts for the advancement of the industry sector, but there are several pitfalls hinder activation of the industry by investing (according Zamili) and such as lack of regular industry and holds approvals in the basic design of the cities, despite persistent claims by the relevant authorities to activate the single window, but the representatives of those agencies are still not serious in authorized to send them powers to speed up the granting of licenses.