Hussein Ali, a member of the Parliamentary Investment Committee, announced on Monday that the Industrial Investment Law is almost ready for approval in the House of Representatives. He also confirmed that there will be a vote on the second reading of the law in the coming sessions, followed by a full vote.
In an interview with the, Ali stated that “it is necessary to move to stimulate investment in the industrial sector, which lacks many basics,” adding that “approval of this law will support investment and provide many facilities to investors.”
“Approval of this law will be consistent with the government program and the steps that the current government is taking,” he said, adding that “the law contains many articles and legislation that will contribute to the success of the industrial investment sector, which Iraq lacked during previous years.”
“The final touches have been put in place to approve the Industrial Investment Law in the upcoming Parliament sessions,” he continued, stressing that “the Investment Committee worked to add paragraphs that will contribute to creating a qualitative breakthrough in the investment sector in Iraq.”
Iraq had not before passed any legislation of this kind that would have fostered investment and the development of this industry.
