Member of the Parliamentary funding Committee, Mohammed Al-Ziyadi, confirmed today, Saturday, that the absence of planning and clear vision hinders investment in Iraq.
Al-Ziyadi said in a statement to dinaropinions.com, “funding in Iraq suffers from many troubles due to the dearth of making plans and clean vision, stressing that any step that isn’t always preceded by means of sound planning faces failure or ambiguity.”
He explained that “the modern investment regulation, with all its articles, suffers from many shortcomings, which makes the funding environment in Iraq improper for financial development.”
He talked about that “government institutions do now not completely observe the regulation and that there are exceptions granted through decisions of the high Minister to some traders, which results in discrepancies in the software of the regulation and harms institutional funding.”
He introduced that “ministerial institutions frequently operate in isolation from the regulatory legal guidelines,” noting that “there are articles within the law that don’t assure the safety of the very last client, but as an alternative handiest advantage the investor, which weakens the citizen’s self belief in funding initiatives.”
He also pointed out that “the shortage of a clean vision for getting ready the infrastructure earlier than beginning investment projects leads to obstructing the entire process,” stressing that “those factors make investment in Iraq volatile and absence the ability to offer actual and continuous services to citizens.”
He defined that “granting an funding license in agricultural regions is a felony violation,” noting that “there are exceptions granted to these projects by using selections of the high Minister, which harms the infrastructure and distorts the photo of investment inside the u . s ..”
