Tuesday, May 16, 2017


The legal adviser in the US Department of Commerce, Mr. Abbas Abbasi, announced the issuance of a legal guide for investment in Iraq .
Aboussi said during a press conference held at the headquarters of the US Consulate in Basra that this guide would help the investor to identify the investment opportunities available in Iraq .
The issuance of this guide took three years of joint work between the Iraqi government and the US government in coordination with the National Investment Commission and the Trade Law Development Program (CLPD) of the US Department of Commerce, as well as other partners from their counterparts in the European side as well as international and local experts and experts in the field Commercial and legal and investment, and was written in Arabic and English, and became available on the site of the National Investment Authority and its branches in the provinces and the location of the US Department of Commerce .

She added that the objective of issuing this guide to define the investor type of procedures in terms of the search for investment opportunities and licenses investment contracts and to see the Investment Authority’s law and its amendments, and the basic conditions without the need to hold workshops while not denying the difficulties and procedures faced by the investor while investing in Iraq .
The legal adviser at the US Department of Commerce said that investment in Iraq requires compliance with awareness in the development of law and international conventions. It also requires awareness of the investment law and the amendments made to it in terms of its acceptance with the foreign investor and comparison with all new laws .
The press conference was preceded by a workshop held at the US consulate, which included representatives of the National Investment Authority, investment bodies in southern Iraq and representatives of a number of ministries, the fifth of its kind to promote investment and its law and attract the investor .
The guide includes the legal framework of the investor, taking into consideration his point of view and his desire to invest in the country. He also helps legal staff working in the investment bodies to formulate model contracts, regardless of the nature of the investment contract sector .
For his part, the Chairman of the Investment Commission of the province of Dhi Qar Luay Khair Allah that the issuance of this guide would encourage investors and attract them through the access to investment opportunities and the law of the Commission and sends a message reassuring them through the laws that support them with opportunities available .
While Haidar Hamad Mustafa, representative of the Ministry of Industry and Minerals that the removal of obstacles to the investor of the most important conditions must be available to develop the investment sector in the country, the government’s cooperation with the investor.
The obelisk
Iraq is heading towards the socio-economic economy between socialism and capitalism according to government plans, the economic expert said on Monday, pointing out that Article 25 of the constitution provides for a market economy and gives the private sector the authority to exercise its role. That process, noting that the remnants of the previous laws in the country still govern the basic joints of the economy and yet we claim that we are a market economy, but the market economy is not only media statements.
“Article 25 of the Constitution provides for a market economy and gives the private sector the authority to exercise its role, but there are no laws to run that process and therefore it is going randomly,” Antoine told “Iraq News”, pointing out that “the remnants of previous laws in the country are still “But we are claiming that we are a market economy, but the market economy is not just the media statements, but the implementation of the work, as the state has all the wealth today and when the state stops the sale of oil stops and the economic wheel of the country stops completely.”
“The government is in the process of preparing the five-year plan to move Iraq into a market economy, which is the social economy, which is a middle economy between socialism and capitalism,” he said.
Article (25) of the Iraqi Constitution stipulates that “the State shall guarantee the reform of the Iraqi economy according to modern economic bases, in a manner that ensures the full investment of its resources, diversifying its sources and encouraging and developing the private sector.”
Ayn Al Iraq News
Updates from Iraqi TV since...Wednesday... Wednesday Night: Military leaders on TV today still saying that the goal is to have Mosul liberated by Ramadan. The formal announcement for the total liberation of Mosul should be between the 15th and 19th of May. We "should" see the RV either right before 26 May or during Ramadan which starts on the 26 May. That's what is being said in Iraq in the Mosques. Thursday: 10 percent left to liberate and all ATM's are to be activated soon. More territory was liberated today. Parliament was in meetings and passing more laws. Friday: Iraq stating deals done so that ATM's are now being placed in all post offices in Baghdad and surrounding provinces which will allow access to citizen's MasterCards. Saturday: Iraq TV announced another district liberated today with 13 districts remaining and 2 more main bridges before full liberation is achieved.

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