Page 8 - Microsoft Word - The Investment Law No amended.docx

Article 8
The Commission shall have an independent annual budget whose revenues shall be made up of
its allocated amounts in the State General Budget.

Article 9
The Commission shall promote investment by working on the following:
First: Building confidence in the investment environment, identifying investment opportunities,
and promoting and stimulating investment in them.
Second: Simplifying the procedures for registration, issuing of investment projects licenses, and
following up on existing projects and giving them priority in processing with the official
entities. Completing the procedures of answering investor requests and obtaining the required
approvals for the investor and the project.
Third: Establishing One Stop Shop includes authorized representatives from the relevant
government agencies responsible the recommendation to grant the Investment License after
obtaining approval of the concerned authorities in accordance with the law.
Fourth: Providing advice, information, and data to investors and issuing special manuals in this
regard.
Fifth: Setting forth and implementing programs to promote investment in different areas of Iraq
in order to attract investors.
Sixth: Facilitating access to establish necessary projects as determined by the Commission in
coordination with the relevant authorities, as follows:
• With charges for the residential projects that fall within the basic design.
• Free of charges for the residential projects that fall outside the basic design, but does not count

the value of land within the value of the residential unit sold to the citizen.
• With charges for the rest of non-residential units.
Seventh: Establishing grand investment zones with the agreement of the Council of Ministers.
Eighth: Encouraging Iraqi and Foreign investors to participate with their Iraqis counter parts by
providing of loans and financial facilities for them in coordination with Ministry of Finance and
other financial institutions. However, loans and financial facilities are to be considered after 25% of
the project has been completed, and soft loans are to be granted for residential projects and the final
beneficiary to take into account the use of the hands of an Iraqi labor force proportionate with the
size of loans.
Ninth: Any other tasks related to its work and assigned by the Council of Ministers.

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