Karbala governor demands to amend law 32 to encourage investments

KARBALA / IraqiNews.com: Karbala governor called on Friday to amend law 32 to facilitate foreign investments and to develop the banking sector. “We have signed several agreements and the investment authority agreed on several projects but the reality does not reflect that,” Amal al-Din al-Her told IraqiNews.com news agency. “Investment companies want guarantees which are not available because there is a law which hampers these guarantees which attract capitals,” he added. He called for the amendment of articles of law 32 related to allocating lands to investors for attracting huge capitals to help setting up strategic projects, to decrease the unemployment and to benefit from the international experiences. Karbala is 110 km southwest of Baghdad. SH (P) 1