Iraq opens court to protect foreign investment

***BigDreamer*** · November 25th, 2010, 11:08 AM

Iraq on Wednesday inaugurated a new court formed to resolve disputes between foreign investors and Iraqi companies as part of efforts to encourage investment into its moribund economy.

"Establishing this court strengthens the judiciary and makes it more specialized, and it also encourages investment into Iraq," said Medhat al-Mahmud, the head of the Supreme Judicial Council.

The court will deal exclusively with legal disputes between foreign investors and Iraqi entities, whether they be the government or private-sector firms, according to council spokesman Abdul-Sattar Bayraqdar.

"The purpose of this is to encourage foreign investors that there are laws in Iraq that will protect their interests," he told AFP.

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I think this is a good move (and long overdue)

***elusive*** · November 25th, 2010, 11:54 AM

very good move...more needs to be done though like amendments to the investment law of 2006

sheytanElKebir · November 25th, 2010, 02:02 PM

very good first step. lets hope it really works.

November 25th, 2010, 11:08 AM	#1
*BigDreamer* Dreams of Babylon Rising Join Date: Jun 2005 Posts: 7,053 Likes (Received): 266	Iraq opens court to protect foreign investment Iraq on Wednesday inaugurated a new court formed to resolve disputes between foreign investors and Iraqi companies as part of efforts to encourage investment into its moribund economy. "Establishing this court strengthens the judiciary and makes it more specialized, and it also encourages investment into Iraq," said Medhat al-Mahmud, the head of the Supreme Judicial Council. The court will deal exclusively with legal disputes between foreign investors and Iraqi entities, whether they be the government or private-sector firms, according to council spokesman Abdul-Sattar Bayraqdar. "The purpose of this is to encourage foreign investors that there are laws in Iraq that will protect their interests," he told AFP. ------------------------------- I think this is a good move (and long overdue)

November 25th, 2010, 11:54 AM	#2
*elusive* Moderator Join Date: Nov 2009 Location: Baghdad Posts: 4,086 Likes (Received): 104	very good move...more needs to be done though like amendments to the investment law of 2006 __________________ “Limitations live only in our minds. But if we use our imaginations, our possibilities become limitless” - << VISIT BAGHDAD, ARAB CAPITAL OF CULTURE 2013 >> - www.baghdadism.blogspot.com.au

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November 25th, 2010, 02:02 PM	#3
sheytanElKebir stsirorret dedrater kcuf Join Date: Sep 2008 Location: nwot rorret ibahaw Posts: 8,167 Likes (Received): 326	very good first step. lets hope it really works.