Iraqi Dinar 123 News:– The Iraqi Parliamentary Commission for economic and investment has confirmed that new modified law is ready for voting from the House of Representatives and it would be implemented very soon. This new modified investment law would complete the five major requirements for increasing investment capital including subsidy and necessary funds allocation to encourage for more investment, land proprietorship and to encounter conclusion, find more specific methods to motivate and support using single window operation to simplify law enforcement mechanisms.
The Chairman of the Commission Jawad Al Bolani said in his joint press conference with Iraqi Parliamentary Finance Committee, Heads of departments and agencies that we arranged a workshop meeting in order to finding ways for implementing the second modification in the investment law for better performance and we have found much better ways. We have collected all the observations and suggestions from the public sectors, private sectors and by many other departments. He further said that last modification in the investment law was targeted for specific institutions which resulted involvement of ministries. Now they are major partners in economic change and law of payment, but we should find more specific methods on the ground. He also warned that dependency only on oil exports would not reflect positive impact in Iraqi economy and Iraqi government should focus on other non oil exports to stabilize and improve the economy of the country.