New Investment Law Will Attract Foreign and Arab Investors

Iraqi Dinar 123 News:– The new investment law would provide a new spirit in the development sectors in Iraq. An authentic source also said that change in the paragraphs of new investment law would attract more investors in Iraq and it will give Iraq on a plate to foreign and Arab investors. The source didn’t mention name but also said that new investment law has new paragraphs regarding the rights of the investors for purchasing land in Iraq, it was supposed rejected at the time of project but now it has been considered adding the paragraph to rent the land for the investor in order to setup the project.

The source further added that there is a special agreement among a number of economic and investment commission and the parliamentary head for the investment commission in order to pass the law and this new law is expected to be forwarded in the House of Representatives for final approval on next Monday. The source also pointed out that this law will be implemented after its approval on all the investors including existing investor regardless citizenship of any country such as Israeli companies to develop their projects in Iraq. A large number of foreign and Israeli companies are operating in Iraq.

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