Iraq: the ownership of the land " hindered "the development of investment and an invitation to strengthen ties with Saudi Arabia

An Iraqi government adviser said Monday, that the real problem facing investment in Iraq is the ownership of the land is located by the investment projects, with economic expert called for, the Iraqi government to strengthen economic ties with Saudi Arabia.

He said the economic adviser to Prime Minister Abdul Hussein Al-Anbuge told Kurdistan News (Akaniwz) "The land problem in Iraq will not be easily solved because of the complexity of this file and the absence of real efforts to clarify the ownership of the land."

He added that "30 percent of the land ownership of the property is not known for years it has caused problems and hindered the fact many of the investment projects in the country."

The Iraqi Council of Representatives on 13 October, in October 2009 approved the Law on the First Amendment to the Investment Law as approved by the Presidency Council, and included a paragraph of the amendment to allow non-Iraqis to own land for the purposes of housing projects exclusively.

For his part, the economic expert for the full Yasiri Kurdistan News Agency (Akaniwz) "the future Iraqi government is supposed to do economic relations with Saudi Arabia as a country economist in the Middle East as well as an oil country and has close ties with major international oil companies."

He explained "It is very important to separate the Iraqi government between the political and economic problems with Saudi Arabia to the maturing of the economic reality in the stage ahead", following to say "surely that Saudi Arabia has worked badly in Iraq, and we must not deny the economic role of the important plays in the region".

And that "to attract the investment companies and the oil working in Saudi Arabia, a move that would draw the new features of the economy of Iraq."

http://www.aknews.com/ar/aknews/2/163364/