The Iraqi Parliamentary Committee on Economy and Development called on the Iraqi government to make amendments to 12 paragraphs of the current investment law, with the aim of improving the investment environment and attracting foreign investments to the country.
The committee chairman, Hassan Al-Khafaji, explained that the committee discussed with the relevant parties, including university deans and the National Investment Commission, ways to improve the Iraqi investment law.
l-Khafaji stated that the committee was able to obtain the government’s approval to amend 4 out of 12 articles that were proposed, but he considered that the amendments that were approved “are still below the required level.”
Among the most important points discussed by the committee was one related to investment opportunities that investors obtain. Al-Khafaji pointed out that some unsound companies exploit these opportunities, which leads to the flight of capital and the disruption of projects.
Al-Khafaji stressed that the committee is striving to change this paragraph of the law, to ensure that serious investors have real opportunities to invest in Iraq.
In addition to the amendments to the investment law, the committee also discussed several other economic laws, including laws to combat price increases and open new cities.
These efforts by the committee come within the framework of its efforts to improve the Iraqi economy and attract foreign investments, which will create new job opportunities and improve the standard of living of citizens. link
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