Amending the Iraqi Investment Law soon

The official in the Iraqi national investment, Abdullah Bander revealed on plans to amend the Iraqi investment law, No. / 13 / for the year 2006. Bandar stated today in this regard that was a preparation for a set of proposals will be discussed at the conference which will be held in Baghdad in mid-March with provincial councils in participation of government agencies and ministries to amend certain paragraphs of the general law.

He added that the proposed amendments, if adopted, would not affect the nature of the protocols signed by the Board with international companies or their requests in the implementation of investment projects in Baghdad and Iraqi governorates... Referring that the body will provide guarantees for foreign capital to work in the country.

The Iraqi official acknowledged the existence of some obstacles that prevent investors to work as the national investment demands, linking it to the investor's conviction, whether local or foreign.

He called on government agencies and ministries to support the work of the Commission and coordinating with the committees that were formed recently to follow up the investment charts throughout Iraq, and denied the rumors of hard conditions that prevent the projects' implementation by the private sector companies.

Source: IRAQdirectory