Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by shotgunsusie

actually, these two things changed so they did edit the post, i would say that was to indicate they had 'attempted' the auction as i posted previously. remember at the beginning when someone said watch the cbi, when the auctions cease the rv is around the corner. well i would say not having anyone show up at the auction to buy would be indication that they are indeed stopping. what they did was to leave the old post up and change the number of announcement and the day of week but forgot to change the numbers on the original post.

OK SSG I am following you there.

What can we expect now that this has happened??

Any guess on a TIME FRAME???

Originally Posted by shotgunsusie

actually, these two things changed so they did edit the post, i would say that was to indicate they had 'attempted' the auction as i posted previously. remember at the beginning when someone said watch the cbi, when the auctions cease the rv is around the corner. well i would say not having anyone show up at the auction to buy would be indication that they are indeed stopping. what they did was to leave the old post up and change the number of announcement and the day of week but forgot to change the numbers on the original post.

I will concur

Originally Posted by motomachi

The Presidency ratified the Investment Law

Translated version of http://www.iraqipresidency.net/news.php?language=arabic&type=news

November 30, 2006
Council issued a presidential distinguished Investment Law No. (13) of 2000, Based on the approved by the House of Representatives, following is the text of the law :

"In the name of the people The Presidency

Based on the approved by the House of Representatives in accordance with the provisions of paragraph of the first article first session of the Constitution and past legal term set forth in paragraph (V / a) of Article Eight hundred and thirty of the Constitution.
Law issued the following statement :
No. (13) of 2006

Investment Law
Chapter I
Definitions

Article (1) : the following terms are intended wherever it appears in this Act meanings corresponding below unless the evidence shows otherwise.

A. Council : Council of Ministers.

B. The National Authority for Investment : is the body formed under this law responsible for the development of national policies for investment and the development of controls and monitoring the implementation of controls and regulations in the field of investment and specific investment projects strategic outlook of the federal nature exclusively.
C. The Territory : the investment in the province is responsible for planning program and the granting of leave to invest in the province.
D. The Province : the investment in the province in the territory of irregular responsible for the planning and investment granting leave investment in the province.
E. Body : the National Authority for Investment Authority or maintain as the case may be.
And. Chairman of the Board : Chairman of the National Authority for Investment.
G. Project : economic activity covered by the provisions of this law.
H. Assets : machinery, appliances and equipment, machinery, supplies and the number and modes of transport, supplies and office furniture for use exclusively in the project, furniture, furnishings and supplies hotels and tourist cities, hospitals, schools and colleges.
I. Foreign investors : that does not carry Iraqi nationality in the case of a real and recorded in a foreign country if the people, legally or morally.
J. Iraqi investor : is that carries Iraqi nationality in the case of a real and recorded in Iraq if the people, legally or morally.
K. Taxes and fees : all kinds of taxes and duties imposed by the laws in force.
Told. Energy design : energy production is designed as a unit of time (hour, on ... etc.), as evidenced by the documents received from the processor with the machines and the economic feasibility of the project.
M. Portfolio investment : a series of investments in stocks and bonds.
N.. Investment : is the recruitment of money in any activity or project economic legitimate beneficial to the country.

Ends and means

Article (2) The purpose of this Act is to Mayati :

First : investment promotion and transfer of modern technologies to contribute to the development of Iraq and development and to expand its productive base and service and diversification.
Second : to encourage the Iraqi private sector and foreign investment in Iraq through the provision of necessary facilities for the establishment of investment projects and to promote the competitiveness of enterprises covered by the provisions of this law in the domestic and foreign markets.
Third : the development of human resources according to market requirements and providing job opportunities for Iraqis
Fourth : the protection of the rights and property investors.
Fifth : export expansion and strengthening of the balance of payments and trade balance for Iraq.

Article (3) adopt the following means to achieve the objectives of this law :

First : project grants covered by the provisions of this law privileges and guarantees necessary for the maintenance and development through the provision of support, including believes enhance the competitive edge of those enterprises in the domestic and foreign markets.

Second : project grants leave the winner of investment from the additional facilities and exemptions from taxes and duties, according to the contents of this law.

Chapter II
The National Authority for Investment
The bodies of investment in the regions and governorates

Article (4) :
First : Under this law, a body called the (National Authority for Investment) have personality and moral authority or the Chief of empowered and be responsible for the development of national policies for investment and development plans, regulations, controls and control the application of these controls and regulations in the field of investment and specific investment projects the strategy of an exclusively federal.
Second : manages the National Authority for the investment board is composed of nine members with expertise and jurisdiction for a period of no less ferocious than ten years and possess a university degree and competence of the suit and is not restricted to the felony or misdemeanor dishonest or bankrupt.
Third : a-nominate the Council of Ministers request of the President of the President of the rank of minister and the vice-president and a deputy minister for a period of five years and presented to the House of Representatives for approval.
B-appointed head of the Council of Ministers of the four members for a period of five years, a general manager.
C-selected by the President of the Council of Ministers of three members from the private sector for a period of five years after nomination by the President of the National Authority for Investment and determine the remuneration in accordance with the rules of procedure.
D-at the expiration of the term of office of any member of the National Authority for Investment mentioned in (a, b) of this article, other than in cases of impeachment and resignation by the President of the Council of Ministers Petensephm any hand with the government retaining Pedrjthm career transmitted mentioned in paragraph (a) of this article to retire at the Non Tinsephma post to tie d Rgthma career.

E-to the House impeaching President of the National Authority for Investment and Deputy directly or at the request of the Prime Minister's grounds.
- And of the Council of Ministers to dismiss any of the members of the National Authority for the investment of others or replace other in the absence of commitment and regulations Bamaair body.
G-the board of directors of the National Authority for Investment invitation of the Chairman of The quorum meet and to take the decisions and recommendations by an absolute majority and regulates the functioning of internal issued by the body.
H-linked to the National Authority for Investment Chairman of the Council of Ministers.
I-determined system of salaries and benefits the employees, On the proposal of the President of the National Authority for Investment and the decision of the Prime Minister.
Fourth : The status of the National Authority for Investment in Baghdad and to appoint representatives to the regions and provinces.
Fifth : the National Authority for the development of investment policy overall national strategy for investment and identify the sectors most important and prepare the road investment projects in Iraq in light of the information obtained from the bodies of investment in the regions and provinces are also lists of investment opportunities in the investment projects Els Tratejeh and Yugoslavia with the preliminary information on these projects and provide for those interested in investing.

Article (5) :
First : the regions and provinces in the territory of irregular formation of the investment in the areas under its control with powers granted leave investment planning and investment and encourage investment and to open branches in areas under its consultation with the National Authority for the investment to ensure that the legal requirements.
Second : the regional and provincial bodies of seven members, including at least one president and his deputy with experience and competence for no less ferocious than seven years, possess a university degree and competence of the suit and is not restricted to the felony or misdemeanor dishonest or bankrupt.
Third : The boards of the province and provinces that have not organized in the territory of the composition of the territory and the preservation and removal of a member of the commitment in the absence of standards and regulations body
Fourth : coordinate regional and provincial bodies to work with the National Authority for Investment and consult and coordinate with local governments regarding the plans and facilities investment
Fifth : the bodies of regions and provinces to develop their investment would not conflict with the investment policy of Yugoslavia and prepare lists of investment opportunities in the areas under its control with the preliminary information on these projects and provide for those interested in investing.
Sixth : the Territory is the Prime Minister of the province and under the control of the territory and linked to the preservation and the Governor under the control of the preservation of Aitaardh including the provisions of this Act.
Seventh : the board of directors of provincial and district invitation of the Chairman of The quorum meet and to take the decisions and recommendations by an absolute majority and regulates the functioning of internal issued by the body.
Article (6) :
Adopt the electronic correspondence in addition to routine correspondence between them and the official bodies relating to the work and activity of the body through local networks or the Internet, according controls determined by the body.
Article (7) :
A body-accept requests leave of investment projects which are less capital than the minimum established by the Council of Ministers, the Minister of the Territory, as the case may be issued under the proposal of the body.
B. Commission must obtain approval from the Council of Ministers before granting leave if the value of an investment project more than two hundred and fifty million dollars.
C-Body decide on the requests for leave to invest in a term not exceeding five (45) and 40th days of the date of submission of the application.
D - The decisions of the Board relating to investment projects adopting binding for the purposes of this Act.
Article (8) :
Of the annual budget independent resources consist of the amounts allocated from the state budget.
Article (9) :
Body aims to encourage investment by working to Mayati :
First : strengthening confidence in the investment environment and identify investment opportunities and encouraging investment and promoting them.
Second : the simplification of registration procedures and leave for investment projects and the follow-up of existing projects and the priority given to them in the achievement of the formal completion of the procedures and answer requests for investors and obtain the necessary approvals for the investor and the project.
Third : the establishment of a single window at the National Investment and other provincial and district bench authorized delegates of the ministries and members nominated by provincial and district councils according to the conditions and the relevant authorities will grant leave and obtain approvals from other parties in accordance with the law.
Fourth : the provision of advice and information and data to investors and issuing bulletins so.
Fifth : develop programs to promote investment in the different regions of Iraq to attract investors and implementation.
Sixth : to facilitate the allocation of land required for setting up and letting projects without determined by the body to coordinate with the relevant authorities.
Seventh : work on the establishment of a safe investment with the consent of the Council of Ministers.
Eighth : to encourage the Iraqi investors through the provision of soft loans and financial facilities for them in coordination with the Ministry of Finance and the use of banking institutions with the requirement that any investor who is a loan, using a number of the unemployed Iraqis commensurate with the size of the loan.
Ninth : any other tasks related to the nature of work assigned to it by the Council of Ministers.

Chapter III
Advantages and guarantees

Article (10) :
Enjoy investor regardless of the nationality of all the privileges and facilities, guarantees and subject to the obligations contained in this Act and the Iraqi and foreign investor for the purposes of housing projects in return for the right to keep the land between him and the owner of the land without speculative land according to rules set by the National Authority for Investment and consent the Council of Ministers, and to facilitate the allocation of land for housing projects and the sale of housing units to the Iraqis after the completion of the project.

Article (11) :
Investor enjoy the following benefits :
First : get capital introduced to Iraq and proceeds according to the provisions of this Act and instructed the Central Bank of Iraq and a convertible currency after payment of all debts and obligations to the Iraqi government and all other quarters.
Second : the right to the foreign investor :
ا-Iraq circulation in the market for securities and equity securities listed therein.
B-composition of investment portfolios in stocks and bonds.
Third : leasing land for the project or for the duration of Almsatha where the investment project based on that not more than fifty (50) years, renewable for approval of the Commission and take into account in determining the term nature of the project and its usefulness to the national economy.
Fourth : insurance investment project with any insurance company or a foreign national it deems appropriate.
Fifth : the opening of accounts in Iraqi currency or foreign or both with one of the banks in Iraq or outside of the project metaphor. Article (12) :
This legislation guarantees to Mstthmerma following :
First : investors are entitled to the recruitment and use of non-Iraqi workers in the absence of the possibility of using Iraqi possesses the necessary qualifications and unable to perform the same task, according controls issued by the body.
Second : Granting foreign investors and workers in the investment projects of the non-Iraqis the right to stay in Iraq and to facilitate entry and exit to and from Iraq.
Third : Non confiscation or nationalization of an investment project under the provisions of this Act or both part except Maisder sentenced court ruling.
Fourth : the technical and administrative staff-Iraqis in the project to change their salaries and entitlements out of Iraq in accordance with the law after payment of debts and obligations towards the Iraqi government and all other quarters.
Article (13) :
Any amendment to this law does not have any retroactive effect prejudice, exemptions and guarantees the rights established thereunder.
Chapter IV
Investor obligations

Article (14) :
Bmayati committed investor :
First : notice of the National Authority for Investment Authority or territory or maintain as the case in writing immediately upon completion of the installation and processing assets for the purposes of the project and the date of commencement of business.
Second : accounting fundamentalist exhaustive legal syndicated accountant in Iraq in accordance with the law
Third : to study the economic and technical feasibility of the project and any information or data or documents requested by the Commission or other competent bodies in the balancing of the project and progress made in done.
Fourth : records particular materials imported for the project and exempt from customs accordance with the provisions of the law determining the terms of the conduct of these materials.
Fifth : preserving the integrity of the environment and our commitment to the quality control systems in place in Iraq and the global regulations adopted in this area and the laws relating to security, health, public order and the values of Iraqi society.
Sixth : Iraqi compliance with the laws in force in areas of salary, leave, hours, working conditions and other minimum.
Seventh : commitment corroborating the progress of the work provided by the investor with the fact that the disparity is not the time more than six months, the National Authority for the investment put penalty clauses in the event the duration of six months and the withdrawal of the holiday.
Eighth : training users of the Iraqis, rehabilitation and increase their efficiency and raise the skills and abilities and priority will be given to the recruitment and use of Iraqi workers.

Chapter V
Exemptions

Article (15) :
First : the project enjoyed rapid leave investment from the exemption from taxes and duties for a period of ten (10) years from the date of commencement of commercial operation, according developmental areas specified by the Cabinet proposal of the National Authority for Investment according to the degree of economic development of the region and the nature of an investment project.
Second : the Council of Ministers propose draft laws for the extension of or the granting of exemptions in addition to the exemptions provided for in item (I) of this article or provide incentives or guarantees or other benefits to any project or sector or area, and time and descent as it deems appropriate in accordance with the nature of the activity, its geographical location and the extent of its contribution to the operation of a hands for working and advancing economic development, considerations required for the national interest.
Third : the National Authority for Investment increase in the number of Sunni exemption from taxes and duties commensurate increase in the proportion of direct relationship with the Iraqi investor participation in the project for up to (15) fifteen years if the proportion of the Iraqi partnership investor in the project more than 50%.

Article (16) :
If the transfer of the project during the duration of the exemption granted by the development to the other development the project is treated for purposes of the exemption provided for in item (I) of article (15) during the remainder treatment of the development projects transferred to the feel of the National Investment so.

Article (17) :
The project also enjoys rapid leave investment, including the following :
First : exempt assets imported for the purposes of an investment project of the charges to be made to Iraq during the three (3) years from the date of granting investment.
Second : exempt assets imported for the expansion project, development or modernization of the charges if it has led to increased design capacity. to be introduced during the three (3) years from the date of notification of the expansion or development. The expansion is intended for the purposes of this law, in addition fixed capital assets in order to increase design capacity of the project of goods or services or materials by more than (15%) fifteen% of the development is intended for the purposes of this Act replacement machines sophisticated Bmkaen project in whole or in part or to develop the equipment and the pain Dat existing in the project by adding new machinery or equipment or parts thereof in order to raise production efficiency and improve and develop the kind of products and services.
Third : exempt spare parts imported for the project from charges that do not exceed the value of these pieces (20%) of the 20th% of the value of the purchase of assets, provided that the investor is not acting for purposes other than importing from it.
Fourth : grant projects of hotels and tourist establishments, hospitals and health institutions, rehabilitation centers and educational and scientific institutions additional exemptions from import duties on furniture, furnishings and supplies for the purposes of modernization and renewal once every four (4) years in the least to be incorporated into Iraq or use in the project apart l (3) years from the date of issuance of the resolution approving the lists of the imported and quantity, provided that the Itim used for other purposes were imported.

Article (18) :
If it turns out that the project assets exempt all or some of the taxes and fees have been sold, contrary to the provisions of this Act or used in illegal or used for purposes other than the declared For investors pay taxes, fees and fines generated in accordance with the law.

Chapter VI
Procedures for granting leave and the establishment of investment projects

Article (19) :
First : investor gets on leave in addition to winning the rest leave for the purpose of enjoying the privileges and exemptions provided by the body.
Second : granted leave the investment or the establishment of the project at the request submitted to the investor on concessional terms prepared by the Authority, It includes a request by an investor on the following matters :

A-fill the application form prepared by the body.
B-efficiency of the Asian financial accredited.
C-projects undertaken by the investor in or outside Iraq.
D-details of the project to be invested and its economic feasibility.
E-schedule for the completion of the project.
Article (20) :
First : to leave the issue of incorporation through the creation of a single window in the Territory or irregular maintenance in the territory of authorized delegates from ministries and other relevant relationship and the establishment of the grant leave the project and obtain approvals from other parties in accordance with the law.
Second : to help the investor to obtain leave from the foundation during its approach Alajahat competent and exploring the views of those in the establishment and the issuing leave on the part of those issuing its approval or rejection or a request for the amendment during the (15) fifteen days from the date notified, The lack of response from the requested opinion in the case of rejection, approval must be reasoned rejection.
Third : in the event of disagreement between the decision of the National Investment and the other related to grant leave founding bodies Non-raising controversy to the Prime Minister for a decision.

Really good news!

RV Express!

ive known since i got out of bed, one of our researchers found it and im trying to catch up and post the link but apparently you beat me to it.

Originally Posted by shotgunsusie

ive known since i got out of bed, one of our researchers found it and im trying to catch up and post the link but apparently you beat me to it.

It came as a First Post from a New "Dinar Gang" Member (Felita). Some first post, wouldn't you say.

Originally Posted by shotgunsusie

ive known since i got out of bed, one of our researchers found it and im trying to catch up and post the link but apparently you beat me to it.

Heck - what else do you know?????????????

Originally Posted by neno

It came as a First Post from a New "Dinar Gang" Member (Felita). Some first post, wouldn't you say.

Great first post! Thank you, Thank you Felita!!!


Amanda

Hi Everyone,

I was watching the news while I was in line at the Bank and it is looking pretty bad with Sadr disrupting the Government. I am just going to throw this out there but do you think that CBI did not have an auction because of all the chaos.

Dinar-Excited

Originally Posted by Lakeway

OK SSG I am following you there.

What can we expect now that this has happened??

Any guess on a TIME FRAME???

THE RESEARCH TEAM IS LOOKIN FOR THIS WEEKEND. THE LADIES IN THE GROUP ARE SHOPPING FOR LIPOSUCTION AND BREAST AUGMENTATION. LMDAO!!!

Originally Posted by CharmedPiper

NOVEMBER.....TODAY IS NOT OVER YET....!

I am soooooooooooo very sorry CP but it is already December in Baghdad. I know, I know. You actually are referring to USA time. If that's the case you still have some hours to go. Thank you for your valuable posts.
Current time Friday, 1 December 2006 at 12:50:06 AM
I read some post yesterday that someone thought that most r/v happen on the last day of the month and someone corrected this by stating that it should happen on the 1 st of the month. So here's hoping.

WWWOOOOOOOOOTTTTTTT = $1.42

Sorry, had to do it.