Legal Obstacles to Investment in Iraqi Law

Doi:https://doi.org/10.37940/JRLS.2023.4.1.3

Abstract

Investment is of great importance to the Iraqi economy for its role in the development and transfer of technology and modern technologies to contribute to the development of Iraq and the expansion and diversification of its production base and bypassing the unilateral aspect in its economy that depends entirely on the export of crude oil, and for the role of the investment law in encouraging the private and foreign sector to invest and to develop human resources and provide job opportunities for Iraqis and eliminating unemployment. However, there are many legal, administrative and economic obstacles facing investment in the State of Iraq. From this standpoint, this study dealt with those obstacles that prevent or impede the flow of domestic and foreign capital under the Iraqi investment law, as stated in a number of results and recommendations, including: The legal and legislative obstacles are among the most important obstacles that limit the attraction of foreign capital from abroad, and the development of national capital. In addition to the legislative obstacles, there are a number of administrative obstacles that limit and impede investment, such as the economic, social and security conditions, and procedures related to investment in terms of licensing and so on. They are called procedural obstacles to investment.