(Note: An Update was just added to the bottom of this post by MyLadies..Thank You)
[Princess D: Araji calls for the activation of Article 15 of the Investment Law
Jennifer: I don't remember but wondered if you can recall what Article 15 of the investment law entails?
Princess D: Government launches soft loans for job seekers in seven provinces
MY LADIES: JENNIFER IN SHORT FORM ARTICLE 15 IS EXPLAINED IN THE ARTICLE IT SELF
"Article 15 if it did would address all impediments to the investment process, as well as giving broad powers to the provinces to facilitate investment."
PRESENTLY THERE ARE MANY OBSTACLES TO INVEST IN IRAQ. THE APPLICATION PROCESS IS VERY LONG AND TAKES TIME.
HISTORICALLY TO INVEST IN IRAQ YOU NEED TO APPLY THROUGH THE GOVERNMENT.
WITH THE NEW CHANGE ,OUTSIDE INVESTORS WILL ABLE TO INVEST IN THE PROVIDENCE AND APPLY JUST IN THE PROVIDENCE OF INTEREST MAKING THE PAPER TIME SHORTER.
ADDITIONALLY, PRESENTLY YOU NEED TO HAVE A LOCAL SPONSOR OR DIRECTOR TO MANAGE IF YOU ARE OUTSIDE THE COUNTRY AND YOU NEED TO MAKE A DEPOSIT AND INTO A STATE BANK AND HAVE AN OUTSIDE FACILITATOR PROCESS THE HOLDINGS SUCH AS GE OR HONEY WELL THROUGH RAFIDIAN BANK.
WITH THE CHANGE OF CURRENCY STATUS I IMAGINE A FEW OF THESE STEPS WILL BE ELIMINATED MAKING INVESTING EASIER. AND THAT IS THE GOAL.
Princess D: Mary what to you understand "soft loans" to mean?
MY LADIES: PRINCESS I THINK IT MEANS THE SAME AS IT DOES HERE, IT IS A LOAN WITH BELOW MARKET INTEREST RATE, AND THEY ARE USUALLY PROVIDED BY THE GOVERNMENT TO JUMP START PROJECTS.
WORLD BANK PROVIDES SOFT LOANS ALL THE TIME TO COUNTRIES JUST LIKE IRAQ THAT ARE EMERGING
IN THIS CASE THE GOI IS PROVIDING THEM TO THE PROVIDENCES THAT CAN NOT GET PROJECTS STARTED BECAUSE THEY DONT HAVE ENOUGH IN THEIR BUDGET TO DO SO.
BUT THE PROJECTS WILL PAY OFF DOWN THE ROAD.
NOW THIS IS AN AMAZING ARTICLE AND ANOTHER CLUE IN THE TIME LINE BECAUSE THEY ARE PREDICTING THE LESS FUNDED PROVIDENCES WILL ONLY NEED THE LOAN FOR 30 DAYS.
SO WHY IS THAT?
Work: Launch of soft loans for a period of one month
MORE ON THE INVESTMENT LAW AND ARTICLE 15, SO PUT THIS TOGETHER WITH THE SOFT LOANS AND WHAT DO YOU HAVE?
LEND THE PROVIDENCES MONEY TO START THE PROJECTS AND THEN GIVE THE PROVIDENCE THE LAW TO BE ABLE KEEP THE PROJECT GOING AND MAKE INVESTING EASIER WITH IN THE PROVIDENCE NOT THE GOI.
MAKE THE LOAN FOR 1 MONTH AND EXPECT IT TO BE REPAID AT THE END OF THAT TIME.
SO CORRECT ME IF I’M WRONG AND NOVA IF YOU’RE READING DOES THIS NOT SPEAKS TO WHAT WE HAVE BEEN SAYING ALL ALONG?
NOW HERE IT IS INK.
JUST FOLLOW THE BALL, RIGHT HERE IN INK,
GIVE THE MONEY THEN MAKE THE LAW.
FUND THE BUDGET THAN PASS THE LAWS.
Araji: investment has become an urgent necessity and there are companies that have expressed interest in investing in Iraq
SAGER -: Exactly because they will need the funds to pay off the loans! They need funds period!! Then they can pass those dang laws.
The loans are a way to get them starting but no matter what they need the funds to pay the loans back!
SAGER -: Am I thinking straight here?
MY LADIES: AND MORE EVIDENCE TO THE MONEY BEFORE THE LAWS. HERE ARE 3 ECONOMIC LAWS TO BE PASSED WITH THE BUDGET AFTER THEY RECEIVE THEIR SHARE OF THE MONEY FROM THE BUDGET. MONEY BEFORE LAWS, WE HAVE SO MUCH ON THIS TODAY BUT YOU GOT THE POINT.
Planning: approving the budget shares for activating the three economic laws
NOVA: Yes !!!!! Money Always Before Laws!!! I Don't Know If They Can Say It Any Clearer!!!
PrincessD: The Iraqi cabinet approved on Tuesday two draft laws, one that would see the creation of a national guard, the other aimed at reforming government policies toward former members of the Baath party.
The bills will now be passed on to the Parliament for approval, said Prime Minister Haider al-Abadi's spokesman Rafid Jaboori, Reuters reported.
The creation of a national guard has been a key demand of Sunni politicians in order to fight Islamic State. Ending the ban on ex-members of the Baath party, which ruled Iraq before the U.S.-led invasion in 2003, from public service has also been a key Sunni demand.(With Reuters)
Princess D: So not passed yet hmmm
MY LADIES: OK RIGHT THERE, THE CABINET...THE LAWS START THERE...BUT THEN THE COUNCIL OF MINISTERS (THE CABINET) HAVE TO SEND THE PROPOSED LAWS TO THE HOUSE OF REPS (PARLIAMENT) FOR A VOTE.
NO LAWS HAVE BEEN VOTED INTO ACTIVE LAW STATUS IN MONTHS AND MONTHS.
THE ONLY THING PRINTED TO THE GAZETTE ARE THE COMMITTEES AND THINGS LIKE THAT WHICH THE HOUSE VOTED.
Bandito_Rox: They are approved by Cabinet and on the way to parliament for a vote!
Princess D: So does wait for parliament to come back on 10th?
MY LADIES: WELL YES ALWAYS THEIR GOVERNMENT WORKS JUST LIKE OURS DOES.
WE HAVE SEEN SO MANY LAWS MENDED AND VOTED AND PASSED IN THE CABINET.
THEN THEY HAVE GONE TO THE HOUSE, AND MANY HAVE GONE FOR A FIRST READING OR SECOND READING BUT NON HAVE GONE FOR A VOTE.
ALL THESE LAWS WE SEE THAT HAVE PASSED THE CABINET MAY COME FOR A VOTE ON THE 10TH OF FEB.
THEY NEED TO FUND THESE LAWS BEFORE THEY ENACT THEM.
SAGER: We are looking great
MY LADIES: ALSO PRINCESS NOT ALL THE LAWS REQUIRE A FIRST OR SECOND READING IT JUST DEPENDS ON WHAT THEY ARE.
OH SAGER WE HAVE BEEN SAYING IT FOR MONTHS...NOW IRAQ IS PRINTING IT!
SAGER: Indeed ML: But we are looking really, really great ;)
SAGER: I definitely suggest to listen to the call. All is explained there including timelines. It's very good
MY LADIES: ALL RIGHT SO LET ME EXPLAIN THIS AGAIN, I HEAR FROM YOU FOLKS THAT THIS IS PASSED AND THAT IS PASSED AND YOU SEE IT IN INK. YES YOU ARE RIGHT TOO. BUT WHICH BRANCH OF GOVERNMENT DID WHAT PASS?
SEE THE LAWS ORIGINATE IN THE CABINET OR COUNCIL OF MINISTERS, SO WHEN YOU SEE THIS IS PASSED OR THAT IS PASSED IT IS CORRECT. BUT THAT IS THE FIRST STEP.
NEXT IT HAS TO GO TO THE HOUSE OF REPRESENTATIVES OR PARLIAMENT FOR A READING OR 2 AND THEN A VOTE.
JUST LIKE THEY DID WITH THE BUDGET, REMEMBER WE SAW IT GO FROM THE COMMITTEE TO THE CABINET TO THE COMMITTEE TO THE CABINET UNTIL IT WAS FINALLY READY AND THEN THE CABINET READ IT AND VOTED ON IT AND SENT IT OUT TO THE OTHER 300 MEMBERS OF THE GOVERNMENT THE HOUSE OF REPRESENTATIVES FOR A READING AND THEN A VOTE.
SO WHEN YOU SEE THIS OR THAT PASSED UNLESS THE PARLIAMENT VOTED IT IN IT IS STILL IN PROGRESS AND NOT COMPLETED.
NOW ONCE AGAIN YOU CAN GO TO THE PARLIAMENT WEBSITE AND READ FOR YOURSELF WHERE THE LAWS ARE. IT CLEARLY TELLS YOU WHICH ONES HAVE BEEN FOR A FIRST READING AND WHICH ONES HAVE BEEN FOR THE SECOND READING AND WHICH ONES HAVE BEEN VOTES AND THEN LASTLY WHICH ONES HAVE BEEN ENACTED.
HERE IS THE SITE http://parliament.iq/Laws.aspx THIS TAKES YOU TO LEGISLATION COMPLETED
AND HERE IS THE LINK TO LAWS ENACTED http://parliament.iq/ILaws.aspx SAME LINK DIFFERENT DROP DOWN BOX.
SO I HOPE THAT CLEARS SOME THINGS UP AND REALLY THERE IS NO MYSTERY OR SECRET CODES TAKING PLACE.
EVERYTHING YOU WANT TO KNOW IS IN PRINT WE DON’T MAKE THIS STUFF UP PEOPLE WE JUST READ IT AND BRING IT TO YOU WITH NO NONSENSE IN BETWEEN.
NOW HERE IS WHERE YOU GO FOR THE OFFICIAL GAZETTE http://www.moj.gov.iq/
YOU WILL SEE IT LARGER THAN LIFE RIGHT ON THIS PAGE.
I HOPE THIS HELPED YOU ALL UNDERSTAND
LOVE TO ALL….. MY LADIES