Dinar Iraq News
2014 will see significant changes in Iraq’s investment law, says National Investment Commission
Posted: January 6, 2014
Araji: Trends expand investment areas for the private sector
BAGHDAD – Yasser incumbent – Hussein Tgb Tamimi,
head of the National Investment Commission d. Sami al-Araji: that the
Commission has been able to achieve its core that be a window of Iraq to
the world through its openness to all continents in terms of investment
and development, cross-marketed to the real needs of strategic projects for Iraq
and
has been able to attract major international companies which confirms
its willingness to invest in it, in spite of all the circumstances going
through.
strenuous
efforts Araji In answering the question “morning” for the most
prominent achievements of the Commission during the past year in 2013,
he said it is useful to clarify that the task of attracting investment
is not easy and you need to strenuous efforts to persuade the states and
knowing the requirements of the country she knows well the potential of
Iraq and its natural resources and all you need to know is required of
them and this is done by the body already.
identified three main points have been made in this aspect, the
first of which enter into negotiations and contracts initial, second,
talks tariff and third axis
opportunity untapped, pointing out that these things are absent from
the grasp of many when evaluated the performance of the body. decades of
housing and on the question about the proceeds realized from these
efforts drew Araji to sign a number of investment contracts in the field
of housing, at a cost of 20 billion dollars included project banks of
Karbala and includes 25 000 housing units, a project the city of the
future in the area Aldhnp at the rate of 30 000 housing units The
project committee Baghdad in Kazimiyah and includes 20 000 housing
units.
revealed Araji all that the year 2014 will witness the hauling
project Maskararashid Housing Authority is now in the final stages in
the evaluation of investment companies advanced for its implementation
and will then be forwarded to the company that is chosen, explaining
that the project includes the creation of 75 000 housing units and
inclusive of building a sports city, and other medical and commercial
centers and entertainment.
coordinate continuous and pointed out that these projects are part of
a special plan to address the housing crisis, noting that the
coordination is underway with the Governors resolve some obstacles for
the Balmottagaosen We have come great strides in this area, expressing
hope the interaction of citizens with these trends to benefit from the
presentations and buying condominiums which commends the methods
developed to make available to the Commission an opportunity to expand
in such mega-projects.
predicted Araji be a case of investment during the current year is better than its predecessor to the presence of a large number of global investment firms wishing to enter the the
field of local labor in all economic sectors, without exception, and
that the constant contact with the body to stand on developments in the
investment map of the country.
new
amendment and pointed out that a new amendment to the Investment Law
No. 13 of 2006 provides in the case of approval elements to attract new
corporate investment, pointing out that he includes in Some paragraphs
tax breaks extends until the completion of the project begins in the
production or service after it was exemptions limited to three years, in
addition to the Commission proposed the establishment of the Bank for
Development and Investment, and allocates a rate (1 percent) of the
annual budget of the state for a period ranging between 5-7 years This
proposal aims to finance small and medium enterprises through a program
of soft loans provided to targeted projects.
areas of private investment and noted al-Araji, that the authority
supports the idea of creating areas of private investment, which attract
advanced technology in their work in all disciplines that expansion of
private sector activity, which is the focus of work The administration
of these areas, which aims to achieve sustainable economic development.
in detailed public sector companies, said al-Araji: that companies put
up for reform in the various ministries of up to (200) company, can
enter into partnerships to activate the reality productive and supplying
the domestic market, the products quality within its jurisdiction ,
pointing out that the Commission believes that the national private
sector first with the participation of the public sector companies and
local levels.
strategic projects and pointed to the importance of changing the financial
system in the country and become commercially developmentally, where
there is economic movement between the state and the citizen, the state
has to provide services and the citizen interacts with the effort that
efforts by the State through its role in supporting these services
across the financial obligations imposed on it.
He noted that the Commission continue its efforts and negotiations
with various parties to create an environment of investment projects
Almthbh on the investment map, where the negotiating body for
cooperation with the Ministry of Transport to set up airport Euphrates
which is worth the investment up to a billion and a half, in addition to
the establishment of the port of Faw, as the Commission works in
collaboration with Ministry of Electricity to negotiate on the
production (13) thousand megawatts, while finding that the industry is
negotiating with companies to set up factories petrochemical industries
as well as factories for the production of chemical fertilizers.
companies ready to invest and pointed out that in the housing sector
there are investment companies ready to build and work in the creation
of housing units , but it needs to interact with citizens through these
projects to benefit from the presentations and buying condominiums which
commends sophisticated ways.
Source:
http://www.alsabaah.iq/ArticleShow.aspx?ID=61306
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