Reform to Simplify Business and Trade Environment

Iraqi Dinar 123 News:– The Legal Adviser for reform draft to the Iraqi administrative Adel Al Lami issued a press statement that the establishment of a central unit is much necessary to execute and manage the regulations of reform systems in order to finalize the autonomous audit process. Most of the countries have experienced that it has produced some excellent results like South Korea as it reduced more than 50 percent of the legislature and it enabled them to uplift their level of economic growth and produced a large number of jobs and brought more than 36 billion U.S dollars foreign investment in the country.

He further added that this draft includes a number of economic lawmaking including 22,500 legal references of lawmaking in the books and most of them belong to 18 provinces, 15 organizations, 32 ministries and a number of independent bodies including chamber of commerce and trade. It also includes ownership laws and coalition authority orders. He stressed the Iraqi government and Parliament to respond quickly and finalize this project as soon as possible. The Iraqi people are looking for the progress because a large portion of these reform packages include companies, academic institutions, business associations, non-governmental organizations and local governments. They all stressed that institutions and ministries should support the reform implementation process in order to confirm the synchronization of all departments to manage all the businesses. The regular and transparent procedures would provide an ease in making legislative rules for the Iraqi government. It would also affect positively on trade and business sector in the country. So, filtering the legislation is most important in making the regulations easier.

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