ECONOMIST: THE IRAQI MARKET IS CENTRALIZED AND 40 INVESTMENT LAWS NEED TO BE REVIEWED AND AMENDED
Economic expert Abdul Rahman Al Mashhadani confirmed today, Friday, that the problem facing foreign investors in Iraq is not limited to the security and political situation only, but rather it is a complex problem.
Al-Mashhadani added to Al-Furat News Agency that “talking about attracting investments is not limited to a specific region, but rather depends on the general situation in the country.”
He explained that “the investment climate in Iraq requires several factors, including the political factor and the conflict between the blocs, in addition to the investment laws that need to be reviewed, as their number has reached about 40 laws.”
He pointed out that “there are paragraphs in these laws related to the economy in general.” Al-Mashhadani pointed out that “the Iraqi government is moving towards a capitalist economy and following a market economy according to the principle of supply and demand, which means that the government cannot interfere in all economic details.”
He pointed out that “the current laws were enacted a long time ago, and are not compatible with the nature of the current stage.”
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