On Wednesday, Muhammad Al-Ziyadi, a member of the Investment Committee, shared that there are significant efforts being made to amend the investment law in three areas.
According to Al-Ziyadi, the investment climate in Iraq should be reevaluated to draw in more capital, both domestically and internationally. With numerous prospects in 13 sectors, including housing, industry, and agriculture, it’s crucial to tap into these opportunities.
“The committee recognizes the importance of investing in economic and commercial activities and revitalizing markets. They are currently working on amending their law in three ways to improve the protection of investor and beneficiary funds, increase project monitoring capabilities, and establish price parameters. This is especially important in the housing sector where prices tend to be exaggerated.”
He highlighted that amending the investment law would help achieve five key goals. The most significant of these is providing greater flexibility in attracting funds while ensuring safety. Furthermore, it would create more job opportunities and relieve pressure on appointments in state institutions.
Experts in the field of economics believe that although there is security and stability, the turnout for investment opportunities does not meet the level of ambition due to issues related to the investment law.