According to Prime Minister’s directives of withdrawing investment licenses from uncommitted investors
NIC Chairwoman: the Decision is Fair for real serious investor
NIC Chairwoman, Suha Najar, assured that the decision of withdrawing investment licenses from investors of projects with achievement rates less than 35% is absolutely just and fair for the serious investors because it could enhance positive reaction on both sides of the investment equation.
She added that the state departments concerned with investment in Iraq now are fully aware that any mistake in using fundamental investment tools as tax breaks which revenues can compete with the national industry, the wrong exploitation of the national lands or granting irrelevant entry visas that can cause disruption and increasing of Iraqi unemployment rate, collectively can contribute to crippling and deteriorating of the Iraqi Investment process.
The positive reactions to the decision helped distinguishing the serious investor who encounters real obstacles and the false one who exploit and disrupt important promising projects for the Iraqi economy.
Najar expressed her optimism assuring that the forthcoming phase shall witness resuming a number of the disrupted projects and re announcement of others especially in housing sector.