Baghdad – IA – Nassar Al-Hajj
The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, announced today, Saturday, the launch of a package of directions and pledges to support the stability of foreign investment activity in Iraq, while confirming that the executive authority will become the direct supervisor of the work of foreign investors.
Saleh said to the (INA): “The launch of the project to protect and maintain the investment environment in our country and improve government services for foreign investors, especially the investor sector from the United States, represents the launch of a package of government directions and its strong and supportive pledges for the stability of foreign investment activity and in a way that serves the interest of development, progress and prosperity.” “The economy in our country, without a doubt.”
He added that it is “a signal to provide opportunities for success for the work of investors, which requires providing a smooth and facilitating climate free of inherited bureaucratic obstacles that in the past delayed investment activity in our country and led to adding high and exceptional burdens and costs to the accounts of investment projects, which has been called in the literature (the cost of Iraq), which It meant the cost of investment risks outside international standards.”
He pointed out that “the Prime Minister’s pledge to provide a positive business climate for investors from the United States is an essential governmental factor in reducing risk calculations and eliminating them completely, especially the risks of the cost element added to the investment project itself, financially and temporally, which are aspects that investors were exposed to in the past and add prohibitive burdens and costs.” “.
He continued: “The Prime Minister’s pledge means that the executive authority will become the direct supervisor of the work of American investors in the selected investment fields in our country, and that the government’s protective frameworks that will be devoted to this purpose will become a legal and administrative tradition to protect investment activities, or what may be called: investment security and investor protection.” Foreigners in our country in general and US investors in particular, and this is a realistic and direct expression of the state’s strong will to provide investors with all the facilities required by the foreign investor in accordance with the contracts and obligations signed and legally enforced when implementing their projects in our country.”
During his visit to the United States and his meeting with major American companies, Prime Minister Muhammad Shiaa Al-Sudani confirmed the government’s readiness to provide all necessary facilities for the work of foreign companies in Iraq, grant them support and create the necessary investment environment.