New Investment Law would Eliminate corruption: Economic Commission

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Investment

A famous economic analyst David Zayer stressed that modified investment law will be more helpful to prevent corruption in giving of land ownership to investors.

Zayer also said in a press interview that current modifications are satisfactory in the investment law and it would attract local and foreign investors in order to bring their investment in Iraq. He also added that the Iraqi government should implement the modified new investment law for the development in the investment sector. He further added that new modified investment law provides more security to the local and foreign investors on their investment.

David Zayer also added that this new investment law limits the subject of ratios because it allows the investor to get a piece of land for a price. He stressed that it would also reduce the heavy corruption in the investment of land and offering for a price. On 27th October 2015, the Iraqi House of Representatives has approved the second modification in the investment law No. 13 of 2006. The Parliamentary economic and investment commission is hopeful that new investment law would support and help to open new door for the Iraqi industry. He also emphasized the need to terminate the phenomenon of the Red Tape in the government and institutions in the state after the implementation of this new modified investment law.

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