Al-Kaabi: We issued an extensive legislations to facilitate investment

Baghdad - INA

The First Deputy Speaker of Parliament, Hassan Al Kaabi, confirmed today, Tuesday, that the House of Representatives has put in place many legislations to facilitate investment.

Al-Kaabi stressed, according to a statement received by the Iraqi News Agency (INA), "the need to give the private sector utmost importance in terms of the necessary support and care," stressing that "the House of Representatives has put in place many legislations that would facilitate the investment process, develop the private sector and advance the current economic reality."

Al-Kaabi called on "the Ministry of Oil to wait and review its decisions related to strengthening the private sector, especially with regard to high black oil prices, and to work according to the laws in force that facilitate the process of industrial development in the country."

A statement by his media office stated that, "Al-Kaabi, during the House of Representatives hosting the heads of the economic, technical and distribution departments in the Ministry of Oil, the Director General of the Industrial Development Department at the Ministry of Industry and Minerals, and representatives of the owners of asphalt plants and the production of dyes, in the presence of the heads and members of the economic and investment committees, oil, energy and natural resources. The parliament and a number of other deputies, to find out the reasons for the high prices of black oil in the factories and laboratories available in Iraq, and to discuss ways to develop the private and industrial sector and put in place the required treatments for all existing problems, he stressed the need for the government to develop an effective strategy to encourage and protect investors, and to strengthen the role of the private sector as a key partner He is true in building the Iraqi state, stressing the necessity of putting in place government controls and procedures necessary to follow up and monitor laboratories and limit smuggling of products in cooperation with the security services.