Foreign investors to have the right to own state properties – spokesperson

BAGHDAD / IraqiNews.com: The Iraqi government approved a bill to amend the investment law to allow foreign investors to buy state-owned, public and private properties, the cabinet’s official spokesperson said on Tuesday, explaining that the decision comes to create a better environment for investments in the country. “The bill will amend investment law number 13 of 2006,” Ali al-Dabbagh said in a release issued by his office and received by IraqiNews.com news agency. “Foreign investors will be allowed to own state, public, and private properties, according to a special payment system for the purpose of housing projects,” he said. “Iraqi investors already have the same right,” he added. Al-Dabbagh pointed out that the bill will also offer foreign investors the freedom to deal in the Baghdad Stock Market, and to join partnerships in private and public companies. “The new amendment requires the state ministries to offer lands and properties suitable for investment projects,” he noted. MH (P)/SR 1