An expert determines the criteria for attracting foreign investments (7/26)
The economic expert, Dr. Sattar Al-Bayati, stressed that the success of the investment process in any country depends on several factors, some of which are tangible, such as airports, ports, roads, energy and water sources, and means of communication, and the other is a “legislative legal” package of laws and legislation that regulates the investment process.
Al-Bayati had earlier demanded, through Al-Sabah, the need to “achieve a package of measures through which it is possible to double the rates of sustainable development in Iraq, putting at the forefront of these measures the activation of foreign and local (national) investment, both public and private,” stressing that “the promotion and activation of The investment side in the country is necessary to contribute to the reconstruction process.”
Al-Bayati told Al-Sabah: “In order to improve the investment environment in Iraq, there are a number of important criteria that foreign companies are looking for, which can be considered among the requirements of the investment climate or its elements, if available, that can help attract foreign investment.”
Al-Bayati pointed out that these criteria are represented in “political and security conditions and developments, which can be summarized in wars, tensions and other disturbances, which are usually factors that repel investment,” noting that “the conditions of peace, stability and reform, political, economic, and human rights, are factors that have an impact Positive in improving the investment climate.
The economist noted, that “among the criteria that have a close relationship with foreign investments, are” economic stability, the size of the workforce, currency risks, the transfer of capital and its profits to the investor’s home (re-exporting capital), macroeconomic management, infrastructure and policies. business, as well as tax rates and incentives.
The legal framework
Al-Bayati believes that the legal and legislative framework should be available, which includes laws regulating foreign investment, privileges, facilities, and tax exemptions. of the population and the prospects for the growth of those variables and the growth of the economy as a whole. He explained that one of the requirements of the attractive investment environment is the absence of financial and administrative corruption, which means the availability of an appropriate environment for business, as the presence of corruption causes high costs that will be borne by the investor, as well as an appropriate social environment, which means community discipline, and one of the priorities of this discipline is societal acceptance of the investor The foreigner, feeling the importance of his investments in the progress of the state and the welfare of society. link
Source: Dinar Recaps
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