Page 3 - Microsoft Word - The Investment Law No amended.docx

Ninth- The Iraqi Investor: The person who hold the investment license, and holds Iraqi citizenship,
if he is a natural or a legal person and registered in Iraq.
Tenth- The Foreign Investor: The person who hold the investment license; and is not an Iraqi
citizen, if he is a natural or legal person and registered in a foreign country.
Eleventh- Investment Zones: zones proposed by the National Investment Commission with
complementary economic activity in various sectors and approved by the Council of Ministers.
Twelfth- The Developer: Each natural or legal person holds an investment license for strategic
projects in the sectors of construction of housing cities , and investment zones or any other
development sector outside the basic design proposed by the commission and approved by the
Council of ministers.
Thirteenth- The Secondary Developer: Each Natural or legal person, part of the
ownership of the investment project transferred to him for the purpose of developing it
among major housing urban projects, investment zones, and any other sector proposed by
the commission and approved by the Council of Ministers in accordance with the basic
design of the project.
Fourteenth- Design Capacity: The productivity designed within a specific time unit
according to what is incorporated in the documents received along with the machinery
from the supplier and the feasibility study for the project.
Fifteenth- Investment Portfolio: A number of investments in shares and bonds.
Sixteenth- The substitution: Substitute unexploited lands and facilities, with one that
yield profits.

Aims and Means

Article 2
This law aims at the following:

First: To promote investment and transfer modern technologies in order to contribute to the
process of developing and enhancing Iraq, and expanding and diversifying its production and
service base.
Second: To encourage the Iraqi and foreign private sector to invest in Iraq by providing the
required facilities for establishing investment projects and enhancing its competitive capacities
in the local and foreign markets for projects included in this law.
Third: To develop human resources based on market demands and provide work opportunities
for the Iraqis.
Fourth: To protect the rights and properties of investors.
Fifth: To expand exports and improve the balance of payments and the balance of trade of Iraq.

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