Cabinet OKs 1st draft amendment on investment law

BAGHDAD / IraqiNews.com: The Iraqi cabinet on Thursday approved the 1st draft amendment on investment law 13/2006 and would refer it to parliament for endorsement in accordance with articles 61 and 80 of the Iraqi constitution, read a statement by the office of the Iraqi government’s official spokesman. “The approval came to make housing units available for citizens and create an encouraging atmosphere for investors and remove the obstacles facing them so as to accelerate economic development and reconstruction in Iraq,” Ali al-Dabbagh said in a statement received by IraqiNews.com news agency. The new amendments provide that Iraqi and foreign investors would enjoy all the privileges and facilities and the rights to own lands and real estates with the aim of setting up housing projects, Dabbagh added. AmR (P) 1