Iraqi government confirms legal facilities granted for the allocation of land investment

11/02/2012 08:10

Baghdad, February 11 (Rn) - The Iraqi government represented by the Ministry of State for Provincial Affairs, Saturday, The problem of allocation of plots of land investment has been resolved, indicating that during the period of 60 days has been allocated a plot of land about 200 to invest in all the provinces.

The problem of land allocation of the most prominent obstacles in the implementation of investment projects. Not to recognize now the budget in 2012 because of political problems that has plagued Iraq.

According to the National Investment The obstacle to attracting investment companies ownership of the land and failure to protect the funds of the investors.

The Minister of State Torhan Mufti told the Kurdish news agency (Rn), "The problem of allocation of plots of land investment companies have been resolved and will later allocate the land quite easily."

He said the mufti, "We facilitate legally necessary measures to give investors plots," noting that "during the four meetings of the allocation of land for investment projects in the development period of 60 a day has been allocated 200 plots of land investment in all the provinces."

And Iraq admitted in 2006, Law No. 13 of the investment, to encourage foreign companies to enter the country and to contribute with the government's efforts to rebuild the crumbling infrastructure due to war and siege.

And the First Amendment, conducted by Iraq to the law in 2009 allowed the foreign investor the right to own land and property belonging to the state allowance determined in accordance with special regulations, and has also the right to own land and property belonging to the mixed and private sectors for the purpose of the establishment of housing projects.

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