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Economic : the role of the National Authority for Investment in Iraq
D. Falah behind spring
The Ministry of Finance announced recently the formation of the National Authority for Investment, at the recommendation of the Act No. 13 of 2006, this law has been allocated by the second quarter of the definition that the Article IV of this chapter, "The body has a moral personality
Responsible for the development of national policies for investment and development plans, regulations, controls, and monitoring the implementation of controls and regulations in the area of investment, and a specific investment projects strategic outlook of a federal exclusively "and the other a strategic national public investment specifying the sectors most important, as the task of preparing a map of investment projects in Iraq, as well for the preparation of lists of investment opportunities in the investment projects and the strategic outlook of Yugoslavia, the provincial and district irregular in the territory shall be the formation of investment in the areas under its control with powers granted leave investment planning and investment and encourage investment, and the Article IX of this chapter that the main objective of the body is to encourage investment regardless of his nationality, and work to promote confidence in the investment environment and promoting investment opportunities, and stimulate investment, and develop programs to promote investment in the different regions of Iraq to attract investors and implementation.
From the economic point of view we can say that the Commission's work will be limited in the work to create the appropriate investment climate to attract investors Iraqis and foreigners.
And it should be recalled here that the concept of the investment climate is a complex concept involves a number of dimensions of legal, economic, political, which included a combination of legislation and laws, along with the economic policies and institutions, structural characteristics and local economic, political and social issues affecting the confidence of investors and impress upon them the guidance investments to the country without another.
The concept focuses on the comparative advantages enjoyed by the site on the investment, which will be determined in the light of the form of opportunities and incentives available to companies willing to invest, which is largely affected by economic policy (fiscal and monetary) and the conduct of the government and in particular the level of corruption, which exercises a powerful influence on costs and profitability, risks and obstacles restrictions on competition.
It also affected the profitability of the companies are providing security and stability, in particular the security of fixed capital and property rights, and the degree of restraint compliance regulations and laws, and the tax system.
And some applied research that the majority of multinational corporations given to the element of economic stability in the host countries of great importance in appreciation of the magnitude of the risks associated with investment.
Based on the foregoing it can be said that the task facing the National Authority for Investment in Iraq, a difficult, but not impossible, and the success rate achieved by the output level of government would make progress in security and political side, as well as its efforts in the liberalization of the economy. The reconstruction and development of infrastructure in the forefront of work on the development of airports, ports and roads and improve water and electricity networks and the provision of fuel and means of communication, as well as to strengthen confidence in the investment environment and focus on the dynamic aspects by raising the level of skills and competencies Altknikih, regulatory and raise the level of efficiency of the accounting system and the administrative and judicial attention and the process of research and development, investor different resolutions, will have obligations and rights, and it is, therefore, a need for a system of accounting and administrative transparent and effective judicial system