Post From Peoples Dinar By Pose
New legislation continues to be unveiled at a very quick pace and in our opinion relate very closely to the information we are seeing in articles.
We have three new laws posted in the law library and a couple additional pieces of legislation we think will be published very soon.
The first one is the Rules of Procedure (4) for the year 2013, the formations of the National Investment. The Articles of the law are not published but since we have the Investment Law for international investments, and the Investment System Law for federal projects, we suspect this law governs private in-country investment - "National Investment".
Since they don't provide the text to the law, all we can do is research the back references and do some speculation and tie common information together.
Read More Link On Right
What the Investment and Investment System laws have written into them is language referring to a body called the National Investment Commission.
It is a body monitored by the Cabinet and has members that sit on the Cabinet. The National Investment Commission (NIC) was established to be the face of PRIVATE INVESTMENT and an advisor for investment for Iraq.
According to the Investment System Law, the NIC has the following departments: Legal, Economic, Relations Department for promotion and media, Department of the single window and Investor Services, Department of Control and Internal Audit, IT department, and Department coordination with the provinces.
This commission is under the supervision of the Prime Minister. This is the economic commission referenced in the Provincial Law 21 giving powers to the provinces to promote economic development at the provincial level as outlined in dissolved CPA Order 71.
The Board of Directors of the National Investment Commission have the tasks of developing policy strategy, and national public investment, and the development of plans and systems and controls them;
they determine the necessary measures to control, monitor and evaluate the performance of investment projects through committees formed for this purpose;
they identify the most important investment sectors; are involved in planning
investment projects in the region or province is not organized in a region; prepare lists of investment opportunities and identify development areas for investment projects; determine areas which are safe investment present to the Cabinet for approval.
Essentially the NIC is formed to support the needs and priorities of each province. They are the direct pipeline to the parliament and cabinet. Their expertise will be to bridge the needs of the people with the economy. They can also "market" Iraq and connect investment opportunities and investors with the needs of Iraq.
This commission should be the One-Stop Window we've read so much about, and should streamline the legal and regulatory requirements for individuals and businesses wishing to set up business.
As an example of the activity of this commission, a new city which will be home to over 600,000 residents is being constructed outside of Baghdad. The city is being constructed from bare soil and includes schools, roads, sanitary, storm, entertainment centers, etc.
The city is called Bismayah; the largest city development project ever in Iraq and the Middle East. It is currently under construction and the South Koreans are heavily involved in the construction and financing through Rasheed, Rafidain, and Trade Bank of Iraq.
Next item is the dissolution of CPA Order 17. This is huge in what Iraq is doing and where it is going. This essentially takes away amnesty for all Multi National Forces (MNF) and Coalition Provisional Authority personnel.
These personnel, contractors, and consultants will now be required to comply with all Iraqi rules for work visas, customs, travel, business, and contracts.
Those from outside of Iraq, who have been conducting business under the reconstruction guidelines will now need to meet requirements under the contracts law, tariffs and other affiliated laws dictating doing business in Iraq. Iraq is generally taking control of their country …
MNF and CPA personnel will be working in the background. Recall the article where Iraq will be achieving sovereignty of its wealth and money, well now Iraq is achieving sovereignty of management of its laws and regulations.
The next items is the Law on ratification of the Statute of the Islamic Association of Telecommunications No. (42) of 2012.
This ties directly into the above dissolved CPA Order 17. Written into CPA 17 is use and development of the telecommunications. This is huge because this will allow Iraq to utilize and share with other countries, the underground cable and satellites they have developed for telecommunications.
We would also like to share one other law that is not in the Law Library. It is the First Amendment to the Rules Committee of the Iraqi National Music
(1). Going out on a limb on this one but logic begs to ask, what reason would an amendment be needed to the Rules Committee of the Iraqi National Music?
We speculate that this is the amendment to the law for the National Anthem. We will need to wait to see this after it is published but feel this is one that everyone has been looking for.
The last thing we feel worth mentioning is to watch for repealing of CPA Order #43 New Iraqi Bank Notes. In order for new notes to be distributed, this CPA order from 2004, must be dissolved.
We cannot find any law or article that references dissolution of this Order and we've been watching for nearly one year, and we may not see it until the last minute.
Below are very nice comments from fellow members & friends:
BlueyesinLevis: Our US media is slanted and has an agenda.... anyone who does not realize that is out of the loop. Likewise.. on the dinar sites we are narrowly focused on facets of iraq that affect our investment.
A good poster and online friend, Carello, wrote this:
To better understand the whole of Iraq, anyone would do themselves a favor to go directly to an Iraqi newspaper(s), at least, and not wait for the Cliff Notes here.
There is a lot about murder, bombs, unnecessary violence, but there is also another side, which is community oriented, social, advancement for women, scientific, sports (a good soccer game takes precedence over a good bombing any day), and they are very much Western oriented.
I just saw a photo of Michael Douglas with a beard, the Grammy winners, the latest in environmental conservation, and get this, electric cars, the benefits of the use of Tumeric for your body, and these are just a few.
Many come here to get the news, but you get what we think is important for our investment. If you want to know what is going on in Iraq, go to three or four newspapers (not just one because they are as slanted as anyone's) and you will see that they are not as primitive as you may think they are.
The people of Iraq have not have the opportunities many of us have had. The next time your state or county has a vote concerning taxes or reform for education, think about it. It is the foundation of progress and success for the whole of a country. ~ Carello
Sadie wrote: For those that feel like Iraq is Just a "bloody hellhole" you would do yourself a service, if you took an hour on Google Earth and flew around Iraq. It is quite fascinating.
Yes there are places that still have evidence of the war, But there are some of the most beautiful buildings and sculptures I've ever seen. In Arbil, one of the oldest inhabited cities on earth, there are georgous ancient structures And a very modern city to rival any in the west.
You know big progress is being made when the buildings have giant cranes on top during their construction. It's all over Iraq, including Anbar. Take a look. You might be pleasantly suprised. ~ Sadie
BlueyesinLevis: My friend wanted me to pass this along....
Holy Moley ... Blue, what would the likes of me and those like me be in this investment without Pose and CountryGal?
They are not just extraordinary at breaking down the articles and news, they are MAGNIFICENT at background understanding of Iraqi constitution, laws, process for passing laws, what is needed, what isn't there yet, what to look for ... and on and on.
There is no way to show enough appreciation, but please pass on my deepest regards for their loving and giving spirits that share so much of themselves through the time, energy and thoughtfulness they put into research--as well as the introspection required to be able to sort it all out and then piece it together in a way that is logical and concise--in order to help all of we who are not qualified or equipped to do what they do. It is recognized, respected, and appreciated.
Blessings to you Pose and CountryGal, ~ DreamWeaver