January 21, 2012
Iraq plans to commemorate the establishment of free zones and other
Established the General Authority for Free Zones in Iraq, a plan to develop a set of free zones and free zones to revive the three neglected for years.
And raised the plan, announced by the Chairman of the Board, Sabah Saleh Qaisi, some economists fear the exposure of those areas because of threats to the unstable security situation in the country, and attempts to exploit the political force.
The Qaisi in a statement obtained by the «life», a copy of that «Iraq in the process of developing a number of free zones and activate the work of the three old».
The statement that the majority of Iraqis did not know Iraq's possession of free zones, and mix between them and the free markets, stressing that the new free zones will be established according to law No. 3 of 1998, which provides investors with exceptions to the restrictions applicable to similar activities.
He explained that the goal Qaisi of the plan benefits to merchants and industrialists and business men and most of the profits to the state treasury, as well as the benefits would accrue to areas which will be held in areas that have not yet determined.
He stressed that the target areas will need to direct support from the government and the Ministry of Finance and the General Administration of Customs and General Commission for Taxes to facilitate the receipt of goods into free zones.
And the possibility of entering Arab and foreign investment to those areas Qaisi said: «There are no restrictions on the nationality of the investor or capital, and up opportunities for foreign investment up to 100 percent, there is no need for a local partner, and there is freedom in determining the prices of products and rates of profits and repatriation of profits and invested capital.
He emphasized that the plan will support the establishment of free zones a range of exemptions and incentives, including exemption of the capital, profits and revenues resulting from the investment of all taxes and fees for the duration of the project, as well as the exemption of goods exported and imported.
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Economic expert, said on behalf of Antoine's «life» can not label areas developed by the former regime, the free zones in the true sense, Iraq does not have a suitable environment for the establishment of these areas in terms of laws that protect the activity and the laws that encourage investment and the inflow of money from abroad.
He said: «Iraq does not have sufficient expertise to manage these areas and infrastructure such as banks that modern operating systems, and that the country is free from staid insurance companies.
And asked: «How will the free zones and the security services so far been able to put an end to the activity of gangs and mafias looting?
Of money that will protect Sistthmrha local businessman, Arab or foreign?
As a member of the economic and investment in the Iraqi parliament Bijari Nora said that Iraq still lacks the infrastructure that will revive these activities, and should benefit from the experiences of countries that have long sold in this area, such as Egypt, Jordan and the Gulf States.
It continued: «afraid to turn the free zones projects developed to exploit political parties or officials, everyone knew that the border crossings from taking advantage of these bodies, and the government to eliminate this phenomenon, which reflected negatively on the investment activity and attract funds from abroad».
The expert in the Iraqi Central Bank Mazhar Mohammad Saleh told «life» that Iraq has issued free zones law after 1990, but did not apply this law because of the events that passed through the country.
He added: «Despite the liberation of the country a trade after 2003 is still in need of free zones because of the weakness of retail outlets with the world, there are no stores of big business in Iraq, it is possible to turn these free zones in the future to the industrial zones to attract capital to non-residents within Iraq As well as being a stockpile of goods within Iraq could enter the market when needed.
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