House of Representatives Approved New Investment Law Today: Al-Bolani

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On Tuesday, the Iraqi House of Representatives voted with one heart for approval of all the amended paragraphs of the investment law draft and now it has become a part of Iraqi constitution and it will be implemented very soon.

A parliamentary source issued a press statement that Iraqi House of Representatives finalized the discussion on all amended articles in the investment law draft. After completion of this process House of Representatives voted in today’s session on new investment law and now it is ready to be implemented. The source further added that House of Representatives approved the modified investment law in today’s session and now new investment law will be implemented. This new investment law includes more benefits for local and foreign investors.

The Chairman of the Parliamentary Economic and Investment Committee MP Jawad Al-Bolani has announced today that new investment law has been approved with one heart by the House of Representatives and it will be implemented after becoming a part of the Iraqi constitution. He added that Parliament completed the reading on some paragraphs at a hearing last week and reading of remaining paragraphs finalized today.

After completion of reading of all paragraphs, the House of Representatives voted for new amended investment law. A member of the committee Nora Al-Bjara also said that this new investment law would encourage local and foreign investors to participate in the investment sectors to empower the Iraqi development process. The new investment law would help to motivate more investors to participate in the new investment projects in the country.

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