World Bank calls for Iraq to activate single-window system to promote investment in the country

08/02/2012

Baghdad, February 8 (Rn) - The World Bank, the Iraqi government to activate the single window system and the formation of a committee of senior staff to facilitate the entry of foreign companies in order to promote investment in the country.

The expert at the World Bank Majid picture, told the Kurdish news agency (Rn) announced today that "the Iraqi government request to activate a single window that is enshrined in the investment law, and the formation of a higher committee will be for its members the ability to make decisions, that includes the ministries, and investment authorities in the provincial councils," .

And watching the World Bank process development and investment in the country by a team of experts headed by Iraq's economic Majid picture.

He added that "most of the obstacles facing investment projects, the lack of attractive investment climates, including the fragility of the security situation and infrastructure, and the inability of legislation on the application and the loss of the investment climate in the country."

He explained that the picture of "Prime Minister Nuri al-Maliki's demands to form a single window, and start working to implement investment projects in the budget in 2012."

The Commission announced the economy and investment representative, earlier, support for the government directions aimed at an amendment to the Investment Law No. 13 in force for the year 2006, indicating that the problem of land acquisition by the investor is still the problem is more complex.

And Iraq admitted in 2006, Law No. 13 for investment to encourage foreign companies to enter the country and to contribute with the government's efforts to rebuild 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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