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Committee on Economics reveals a mechanism for the employing 18 million Iraqis

Shafaq News/ Parliamentary Commission on Economy and investment asked on Saturday, for, granting full powers to the provinces for the investment authorities, while confirming that the issue of ownership of the land is one the most important problems facing the working bodies of the provinces, pointed out that granting full powers will ensure employing nearly 18 million of Iraqi workforce.The National Commission for Investment has directed, at the beginning of this month, the heads of investment authorities in the provinces to speed up the inventory of lands nominated  for investment and classified to prepare them for a project to build one million housing units by the share of each province.The Member of the parliamentary economy and investment Nahida Daini said in an interview with "Shafaq  News" that "the work of bodies of the investment in the provinces is  below the level of ambition as a result of overlapping of powers between them and the ministries and government departments and institutions, which is one of the biggest obstacles facing the work of offices."

She said that "there is a need to promote the work of banks that are currently do not have the means required to provide the amounts needed by the investing companies", calling for "the need to link the bodies of the provincial bodies with the  Ministry of Finance as it is  the only party recognized by the international banks."

In 2006 a new law to invest in Iraq, was legislated  according to the law as the body which is responsible for all investment projects of a federal nature exclusively, while the bodies of the regions and provinces are responsible for investment planning and granting investment licenses in their regions . But the parliament conducted extensive changes by the end of 2009.