Reviews about the investment law in the Kurdistan Region - Iraq No. 4 of 2006 Critical Analysis Study

  • Mukhlis Salim Murad Private law - Erbil Technical University
  • Amera Jaafar Shareef commercial law - Erbil Technical University
Keywords: Investment law, investor, investor’s capital, foreign investorment

Abstract

       It is important to study the texts of the 2006 investment law No. 4 in the Kurdistan Region of Iraq because the investor's capital as a natural or legal person plays an important role in economic activity in both public and private sectors. The Law has an important role in advancing economic development and expanding the investment foundation in the region. This law reflects a fundamental shift that transfers these investments from the area of ​​doubt and caution to the area of ​​encouragement and welcome. The privileges and guarantees mentioned in the investment law contribute to creating a stable and encouraging investment climate. However, it should be noted that the incentives, benefits and exemptions prescribed in the law are supposed to agree with a long-term economic plan. The law should also take into consideration the balance between the long-term interest of the national economy and the interest of the investor and not the preference of the interests of the latter at the expense of the national economy. Moreover, the general wording and lack of accuracy in some issues has made the foreign investor to hesitate whether to invest his capital in the region. This is because he has only received modest rates of foreign investment. Despite providing concessions, guarantees and incentives, the law will not be able to achieve its goals if the security conditions do not improve in the region and Iraq. Having said that recently security conditions has improved and investments has enhanced gradually. However. The law required the proposed amendment as the current law does not contain scientific and practical problems and deficiencies that could reflect negatively on the future of foreign investment in the Kurdistan Region of Iraq.

       The legal texts related to the investment and the investor’s capital have been studied and analyzed to identify the position of the legislator in the Kurdistan region. Then, the law has been compared with the comparative legislation in order to clarify our monetary observations on it. The law requires a serious revision and amendments. It is hoped that the suggestions outlined in this research in order to regulate the law for the for the later stage so it could be clear and accurate to protect the interests of the national economy and future investors.

       In conclusion, the research has reached several important results and recommendations. We have found that there is a shortage in the legal texts and an inaccuracy in the legal foundations for organizing investments in the region and legal guarantees related to the protection of foreign investments. In order to address this issue, this research have presented several proposals and recommendations to address the gaps that exists in this law. This is done in order to develop them and keep abreast of developments in the field of movement of funds and the protection of foreign and domestic investment projects. In addition, to support, enhance and raise the level of competition for companies.

References

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ثانياً: القوانين
- قانون الاستثمار العراقي رقم 13 لسنة 2006.
- قانون الاستثمار الاردني رقم 30 لسنة 2014.
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- قانون رقم 360 المتعلق بتشجيع الاستثمارات في لبنان .
Published
2020-11-11
How to Cite
1.
Murad M, Shareef A. Reviews about the investment law in the Kurdistan Region - Iraq No. 4 of 2006 Critical Analysis Study. JAHS [Internet]. 11Nov.2020 [cited 28Nov.2020];24(4):190 -23. Available from: http://zancojournals.su.edu.krd/index.php/JAHS/article/view/3443
Section
Articles