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經(jīng)國民議會(huì)通過、總統(tǒng)委員會(huì)批準(zhǔn)，根據(jù)《憲法》第61條第一段及第73條第三段規(guī)定，以人民和總統(tǒng)委員會(huì)名義，頒布本法。

第一章 定義

第一條

除有特別說明，以下名詞在本法中均作如下定義：

A． 理事會(huì)：部長理事會(huì)

B． 國家投資委員會(huì)：該委員會(huì)根據(jù)本法成立，負(fù)責(zé)起草國家投資政策指南并監(jiān)督其執(zhí)行情況。該委員會(huì)只負(fù)責(zé)聯(lián)邦投資項(xiàng)目。

C． 地區(qū)委員會(huì)：地區(qū)投資委員會(huì)負(fù)責(zé)發(fā)放該地區(qū)投資許可證。

D． 省級(jí)委員會(huì)：省級(jí)投資委員會(huì)負(fù)責(zé)制定該省投資規(guī)劃以及發(fā)放該省投資許可證。

E． 委員會(huì)：國家投資委員會(huì)、地區(qū)委員會(huì)或省級(jí)委員會(huì)。

F． 委員會(huì)主任：國家投資委員會(huì)主任。

G． 項(xiàng)目：適用本法規(guī)定的經(jīng)濟(jì)行為。

H． 資產(chǎn)：專供項(xiàng)目所使用的工具、器材、器械、機(jī)器、必需品、成套設(shè)備、交通工具及辦公家具以及賓館、旅游城市、醫(yī)院、學(xué)校、大學(xué)的家具、裝飾材料和必需品。

I． 外國投資者：非伊拉克籍的個(gè)人投資者，或在外國注冊(cè)的法人。

J． 伊拉克投資者：伊拉克籍的個(gè)人投資者，或在伊拉克注冊(cè)的法人。

K． 稅收和費(fèi)用：根據(jù)所適用法律征收的所有稅收和費(fèi)用。

L． 預(yù)定生產(chǎn)能力：根據(jù)供應(yīng)商機(jī)器中提供的文件設(shè)定在特定單位時(shí)間內(nèi)（小時(shí)、天等為單位）的生產(chǎn)能力。

M． 投資組合：股票和債券投資總和。

N． 投資：給國家?guī)�來合法收益的�?duì)經(jīng)濟(jì)、服務(wù)行為或項(xiàng)目的資本投資。

目標(biāo)及途徑

第二條

本法立法目的包括：

第一：促進(jìn)投資和現(xiàn)代技術(shù)轉(zhuǎn)讓以及生產(chǎn)和服務(wù)基礎(chǔ)的擴(kuò)大和多元化，為伊拉克發(fā)展作貢獻(xiàn)。

第二：提供設(shè)立投資項(xiàng)目所需設(shè)施，增強(qiáng)本法所涉及項(xiàng)目在國內(nèi)外市場(chǎng)的競爭力，以鼓勵(lì)國內(nèi)外私營部門在伊拉克投資。

第三：基于市場(chǎng)需求開發(fā)人力資源，為伊拉克人民提供工作機(jī)會(huì)。

第四：保護(hù)投資者的權(quán)利和財(cái)產(chǎn)。

第五：擴(kuò)大出口，改善伊拉克收支及貿(mào)易平衡狀況。

第三條

實(shí)現(xiàn)本法目的需采取以下途徑：

第一：為適用本法的項(xiàng)目的延續(xù)和發(fā)展提供必要的優(yōu)惠及保障，包括提供必要支持以增強(qiáng)這些項(xiàng)目在國內(nèi)外市場(chǎng)的競爭力。

第二：根據(jù)本法規(guī)定，為獲得委員會(huì)發(fā)放的投資許可證的項(xiàng)目提供額外的設(shè)施和稅收、費(fèi)用豁免。

第二章 國家投資委員會(huì)及地區(qū)、省級(jí)投資委員會(huì)

第四條

第一：委員會(huì)應(yīng)稱為“國家投資委員會(huì)”，享有法人地位，由委員會(huì)主任或主任指定人選作為法人代表。委員會(huì)負(fù)責(zé)起草國家投資政策、規(guī)劃、法規(guī)及指南并監(jiān)督相關(guān)指南和規(guī)定的執(zhí)行情況。該委員會(huì)只負(fù)責(zé)聯(lián)邦戰(zhàn)略投資項(xiàng)目。

第二：“國家投資委員會(huì)”由九名董事組成的董事會(huì)管理。董事需稱職、專業(yè)，并持有與委員會(huì)職能相關(guān)的大學(xué)畢業(yè)文憑。董事不得有犯罪服刑、道德敗壞或破產(chǎn)記錄。

第三：

A． 應(yīng)總理要求，部長理事會(huì)應(yīng)提名一名部長級(jí)委員會(huì)主任、一名副部級(jí)副主任，任期五年，提名上呈國民議會(huì)批準(zhǔn)。

B． 總理應(yīng)任命四名司局級(jí)委員會(huì)委員，任期五年。

C． 總理應(yīng)從委員會(huì)主任提名中挑選來自私營部門的三位委員會(huì)委員，任期五年，并根據(jù)相關(guān)法律確定其薪酬。

D． 本條第A、B段涉及的委員會(huì)成員任期結(jié)束，開除或辭職除外，總理應(yīng)指派他們擔(dān)任同級(jí)別的其它政府職位。第A段提到的成員若未擔(dān)任同級(jí)別的其它政府職位，則享受退休養(yǎng)老金。

E． 國民議會(huì)可以直接解雇國家投資委員會(huì)主任及副主任，或應(yīng)總理要求并有充分理由這樣做。

F． 如委員會(huì)任何委員違反了委員會(huì)規(guī)章制度，部長理事會(huì)有權(quán)直接將其解雇、調(diào)離或任命他人取代。

G． 國家投資委員會(huì)董事會(huì)應(yīng)該應(yīng)董事會(huì)主席邀請(qǐng)召開會(huì)議。委員會(huì)應(yīng)頒布法規(guī)規(guī)定委員會(huì)的法定人數(shù)、決策建議、工作流程及其它任何相關(guān)事項(xiàng)。

H． 國家投資委員會(huì)應(yīng)與總理建立聯(lián)系。

I． 委員會(huì)職工工資和福利水平由總理根據(jù)國家投資委員會(huì)主任的建議決定。

第四：委員會(huì)總部設(shè)在巴格達(dá)。委員會(huì)有權(quán)任命地區(qū)和省級(jí)代表。

第五：國家投資委員會(huì)應(yīng)起草一份國家投資全面戰(zhàn)略規(guī)劃以確定重點(diǎn)領(lǐng)域，并應(yīng)根據(jù)地區(qū)和各省提供的信息制作一張伊拉克投資項(xiàng)目圖。委員會(huì)應(yīng)根據(jù)戰(zhàn)略和聯(lián)邦投資項(xiàng)目的初步信息制作投資機(jī)會(huì)清單，并向有意向的投資者公布。

第五條

第一：地區(qū)和省可以成立當(dāng)?shù)氐耐顿Y委員會(huì)。在與國家投資委員會(huì)協(xié)商后，委員會(huì)有權(quán)根據(jù)本法規(guī)定發(fā)放投資許可證、進(jìn)行投資規(guī)劃、促進(jìn)投資、設(shè)立各地分支機(jī)構(gòu)，以確保投資活動(dòng)的合法有序。

第二：地區(qū)和省級(jí)投資委員會(huì)至少應(yīng)包括七名委員，包括主任和副主任，所有委員應(yīng)有七年以上工作經(jīng)驗(yàn)，持有與委員會(huì)職能相稱的大學(xué)文憑，不得有犯罪服刑、道德敗壞或破產(chǎn)記錄。第三：在不與本法規(guī)定沖突的前提下，地區(qū)和省應(yīng)建立一個(gè)該地區(qū)和省級(jí)投資委員會(huì)的成立機(jī)制以及在委員會(huì)委員未能遵守委員會(huì)規(guī)章制度時(shí)的替換機(jī)制。

第四：地區(qū)和省級(jí)投資委員會(huì)應(yīng)與國家投資委員會(huì)協(xié)調(diào)工作，并就投資規(guī)劃和設(shè)施與當(dāng)?shù)卣�府協(xié)調(diào)協(xié)商。

第五：在不與聯(lián)邦投資政策沖突的前提下，地區(qū)和省級(jí)委員會(huì)應(yīng)起草投資規(guī)劃，并根據(jù)投資項(xiàng)目的初步信息制作投資機(jī)會(huì)清單，向有意向的投資者公布。

第六：在不與本法規(guī)定沖突的前提下，地區(qū)委員會(huì)應(yīng)與該地區(qū)行政首長建立聯(lián)系，并接受地區(qū)理事會(huì)的監(jiān)督。省級(jí)委員會(huì)應(yīng)與省長建立聯(lián)系，并接受省理事會(huì)的監(jiān)督。

第七：地區(qū)和省級(jí)委員會(huì)董事會(huì)應(yīng)該應(yīng)董事會(huì)主席邀請(qǐng)召開會(huì)議，適用絕對(duì)多數(shù)規(guī)則確定開會(huì)人數(shù)并通過決議和建議，同時(shí)根據(jù)委員會(huì)制定的法規(guī)組織相關(guān)工作。

第六條

除普通通信方式之外，委員會(huì)可以根據(jù)內(nèi)部規(guī)定通過地方網(wǎng)絡(luò)或英特網(wǎng)采用電子郵件方式與官方機(jī)構(gòu)交流委員會(huì)的工作和活動(dòng)。

第七條

A． 根據(jù)委員會(huì)提議而通過的法規(guī)，如項(xiàng)目資金滿足部長理事會(huì)或地區(qū)部長理事會(huì)規(guī)定的最低要求，，委員會(huì)應(yīng)接受該項(xiàng)目的投資許可證申請(qǐng)。

B． 如投資項(xiàng)目價(jià)值超過2.5億美元，委員會(huì)應(yīng)在獲得部長理事會(huì)批準(zhǔn)之后發(fā)放許可證。

C． 委員會(huì)應(yīng)在申請(qǐng)?zhí)岢龊?5天內(nèi)就投資許可證申請(qǐng)作出最后決定。

D． 審批投資項(xiàng)目是委員會(huì)為實(shí)現(xiàn)本法目的而承擔(dān)的法定義務(wù)。

第八條

委員會(huì)擁有獨(dú)立年度預(yù)算，其收入來自國家總預(yù)算撥款。

第九條

委員會(huì)應(yīng)在以下方面努力以促進(jìn)投資：

第一：樹立投資者對(duì)投資環(huán)境的信心，確定投資機(jī)會(huì)，促成相關(guān)投資。

第二：簡化登記程序，發(fā)放投資項(xiàng)目許可證，跟蹤現(xiàn)有項(xiàng)目進(jìn)展并在行政程序中向其提供優(yōu)先地位，建立答復(fù)投資者咨詢機(jī)制，為投資者和項(xiàng)目獲得所要求的認(rèn)證。

第三：國家投資委員會(huì)、地區(qū)和省級(jí)委員會(huì)應(yīng)設(shè)立一個(gè)窗口專門辦理許可證以及根據(jù)法律規(guī)定所需其他政府部門批準(zhǔn)事宜。該窗口工作人員應(yīng)包括各部委授權(quán)代表和地區(qū)、省及相關(guān)機(jī)構(gòu)提名的成員。

第四：為投資者提供建議、信息及數(shù)據(jù)，并發(fā)放相關(guān)手冊(cè)。

第五：在伊拉克各地提出并執(zhí)行促進(jìn)投資的活動(dòng)以吸引投資。

第六：協(xié)助劃撥土地并出租給在建項(xiàng)目，租金由委員會(huì)與相關(guān)機(jī)構(gòu)協(xié)商確定。

第七：經(jīng)部長理事會(huì)同意后建立安全自由的投資區(qū)。

第八：如伊拉克投資者（居住在伊拉克）能在獲得貸款后雇用與貸款數(shù)額呈比例的一定數(shù)量的待業(yè)伊拉克人，在與財(cái)政部協(xié)商后并在金融機(jī)構(gòu)協(xié)助下，向其提供便捷貸款和融資支持，以鼓勵(lì)其投資。

第九：其他與工作相關(guān)及由部長理事會(huì)安排的任務(wù)。

第三章 優(yōu)惠及保障

第十條

投資者，不論國籍，均應(yīng)享有本法所規(guī)定的所有優(yōu)惠、便利及保障，同時(shí)應(yīng)承擔(dān)本法所規(guī)定的各項(xiàng)義務(wù)。對(duì)于不涉及土地投機(jī)的住房項(xiàng)目，伊拉克籍和外國投資者有權(quán)有償使用土地，金額由投資者和土地所有人根據(jù)國家投資委員會(huì)規(guī)定的條件，經(jīng)部長理事會(huì)批準(zhǔn)后確定。委員會(huì)應(yīng)為住房項(xiàng)目所需土地的撥劃提供便利。項(xiàng)目完工后，住房所有權(quán)應(yīng)由伊拉克籍投資者確定。

第十一條

投資者應(yīng)享有以下權(quán)益：

第一：投資者向伊拉克政府和其他機(jī)構(gòu)償清所有稅務(wù)和債務(wù)之后，根據(jù)本法規(guī)定和伊拉克中央銀行指示，有權(quán)在兌換貨幣后撤出其投入伊拉克的所有資金及收益。

第二：外國投資者有權(quán)：

A． 交易在伊拉克股票市場(chǎng)上流通的股票和債券。

B． 以股票和債券的投資組合形式進(jìn)行投資。

第三：經(jīng)委員會(huì)同意，在投資項(xiàng)目期限內(nèi)租用項(xiàng)目所需土地。土地租期不得超過50年，具體租期將綜合項(xiàng)目性質(zhì)及其給國民經(jīng)濟(jì)帶來的利益等因素確定。

第四：自由選擇適格的外國或伊拉克保險(xiǎn)公司為投資項(xiàng)目投保。

第五：能自由選擇伊拉克境內(nèi)外銀行作為許可項(xiàng)目開戶銀行以及開戶貨幣。

第十二條

本法對(duì)投資者提供以下保障：

第一：招聘和雇傭工人時(shí)應(yīng)優(yōu)先考慮伊拉克籍工人。根據(jù)委員會(huì)頒布的條款，如無法雇傭到滿足所需條件、有能力完成同等任務(wù)的伊拉克人，投資者有權(quán)雇傭非伊拉克籍工人。

第二：賦予外國投資者及投資項(xiàng)目的非伊拉克籍工人在伊拉克居住的權(quán)利，并為他們進(jìn)出伊拉克國境提供便利。

第三：本法規(guī)定所涉及的投資項(xiàng)目不會(huì)被全部或部分沒收或國有化，已作出最終法律裁決的除外。

第四：任何項(xiàng)目中非伊拉克籍技術(shù)工人及行政人員在向伊拉克政府及所有其他實(shí)體償清稅務(wù)和債務(wù)后，有權(quán)根據(jù)法律將其收入及補(bǔ)貼轉(zhuǎn)移至伊拉克境外。

第十三條

對(duì)本法的任何修改對(duì)本法承認(rèn)的保障、豁免及權(quán)力無追溯力。

第四章 投資者義務(wù)

第十四條

投資者應(yīng)承擔(dān)以下義務(wù)：

第一：為確定項(xiàng)目及商業(yè)活動(dòng)起始日，固定資產(chǎn)安裝并配備完畢后應(yīng)立即書面告知國家投資委員會(huì)、地區(qū)投資委員會(huì)或省級(jí)投資委員會(huì)。

第二：依法保存伊拉克注冊(cè)會(huì)計(jì)師完成的審計(jì)記錄。

第三：提供項(xiàng)目經(jīng)濟(jì)技術(shù)可行性研究及委員會(huì)或其他職能部門要求提交的關(guān)于項(xiàng)目預(yù)算及執(zhí)行進(jìn)展的任何信息、數(shù)據(jù)或文件。

第四：根據(jù)本法規(guī)定保存項(xiàng)目免稅進(jìn)口材料記錄并標(biāo)明這些材料的折舊期限。

第五：保護(hù)環(huán)境安全，遵守伊拉克有效質(zhì)量控制系統(tǒng)及本領(lǐng)域的國際公認(rèn)規(guī)則，遵守安全、健康、公共秩序及伊拉克社會(huì)公序良俗。

第六：遵守伊拉克現(xiàn)行法律中關(guān)于工資、假期、工作時(shí)間、工作環(huán)境及其他最低標(biāo)準(zhǔn)的規(guī)定。

第七：在項(xiàng)目開工六個(gè)月內(nèi)，按照投資者提交的工作進(jìn)展計(jì)劃匯報(bào)項(xiàng)目實(shí)際運(yùn)行情況。國家投資委員會(huì)應(yīng)就超過六個(gè)月而未匯報(bào)項(xiàng)目運(yùn)行情況的投資者制定懲罰措施，委員會(huì)有權(quán)收回許可證。

第八：培訓(xùn)并安置伊拉克籍員工，提高其工作效率、技能及能力。招聘及雇用應(yīng)優(yōu)先考慮伊拉克人。

第五章 豁免

第十五條

第一：根據(jù)投資項(xiàng)目性質(zhì)及經(jīng)濟(jì)發(fā)展程度，在部長理事會(huì)界定的發(fā)展領(lǐng)域內(nèi)獲得委員會(huì)頒發(fā)的投資許可證的項(xiàng)目由國家投資委員會(huì)提出建議，應(yīng)享受自商業(yè)運(yùn)作起始日起十年內(nèi)免征稅收和費(fèi)用待遇。

第二：部長理事會(huì)有權(quán)起草法律草案延長或授予本條第一段規(guī)定豁免之外的豁免，并可根據(jù)活動(dòng)性質(zhì)、地理位置、對(duì)就業(yè)的貢獻(xiàn)、促進(jìn)經(jīng)濟(jì)發(fā)展的作用等因素以及出于國家利益的考慮，給予任何項(xiàng)目、行業(yè)或地區(qū)相應(yīng)年限及比例的激勵(lì)措施、保障或其他利益。

第三：如伊拉克籍投資者在項(xiàng)目中的股份超過50%，國家投資委員會(huì)有權(quán)根據(jù)伊拉克籍投資者在項(xiàng)目中的股份增加直接成比例地延長稅收和費(fèi)用豁免年限，最長至十五年。

第十六條

如項(xiàng)目在豁免期限內(nèi)從一個(gè)開發(fā)區(qū)遷至另一個(gè)開發(fā)區(qū)，并告知委員會(huì)搬遷事宜，在該期限剩余時(shí)間內(nèi)，為達(dá)到第十五條第一段提及的豁免目的，該項(xiàng)目應(yīng)獲得遷往的開發(fā)區(qū)內(nèi)項(xiàng)目的待遇。

第十七條

獲得投資許可證的項(xiàng)目可享受以下豁免：

第一：在項(xiàng)目獲得投資許可證之日起三年內(nèi)運(yùn)入伊拉克的投資項(xiàng)目進(jìn)口資產(chǎn)免除相關(guān)費(fèi)用。

第二：在告知委員會(huì)項(xiàng)目擴(kuò)建或發(fā)展之日起三年內(nèi)運(yùn)入伊拉克的項(xiàng)目擴(kuò)建、發(fā)展或更新所需的、可以提高預(yù)定生產(chǎn)能力的進(jìn)口資產(chǎn)免征相關(guān)費(fèi)用。根據(jù)本法目的，擴(kuò)建指增加固定資本資產(chǎn)以期將項(xiàng)目的商品、服務(wù)或材料的預(yù)定生產(chǎn)能力提高15%以上。根據(jù)本法目的，發(fā)展指將項(xiàng)目原有機(jī)器部分或全部替換為更先進(jìn)的機(jī)器，或在項(xiàng)目現(xiàn)有的設(shè)備及設(shè)施的基礎(chǔ)上增加新機(jī)器及設(shè)備或零件以期提高生產(chǎn)效率或提升產(chǎn)品及服務(wù)質(zhì)量。

第三：價(jià)值不超過固定資產(chǎn)價(jià)值20%、且不會(huì)用于除項(xiàng)目之外的其他用途的項(xiàng)目進(jìn)口零件免除相關(guān)費(fèi)用。

第四：在委員會(huì)批準(zhǔn)賓館、旅游機(jī)構(gòu)、醫(yī)院、衛(wèi)生機(jī)構(gòu)、康復(fù)中心、教育及科學(xué)組織項(xiàng)目至少每四年一次進(jìn)口更新所需的進(jìn)口物件單及數(shù)量之日起三年內(nèi)運(yùn)入伊拉克或用于該項(xiàng)目的家具、裝飾材料及必需品免征相關(guān)稅收和費(fèi)用。這些物件不得用于進(jìn)口目的之外的用途。

第十八條

一旦發(fā)現(xiàn)全部或部分免征稅收和費(fèi)用的固定資產(chǎn)違反本法規(guī)定用于出售或項(xiàng)目及授權(quán)之外的其他用途，投資者必須支付稅收、費(fèi)用及法律規(guī)定的罰款。

第六章 投資及項(xiàng)目成立許可證發(fā)放程序

第十九條

第一：除獲得為享受委員會(huì)提供的優(yōu)惠與豁免的許可證外，投資者還需獲得成立許可證。

第二：委員會(huì)應(yīng)向按照委員會(huì)規(guī)定的條件提交申請(qǐng)的投資者發(fā)放投資或項(xiàng)目成立許可證。投資者提交的申請(qǐng)應(yīng)包括以下內(nèi)容：

A． 填寫委員會(huì)提供的申請(qǐng)表

B． 適格銀行提供的經(jīng)濟(jì)能力證明

C． 投資者在伊拉克境內(nèi)外運(yùn)營的項(xiàng)目

D． 準(zhǔn)備投資的項(xiàng)目詳情及經(jīng)濟(jì)可行性

E． 完成項(xiàng)目的時(shí)間表

第二十條

第一：委員會(huì)必須通過建立一個(gè)包括各部委及相關(guān)部門授權(quán)代表的地區(qū)或省級(jí)窗口發(fā)放許可證。委員會(huì)應(yīng)依法發(fā)放項(xiàng)目成立許可證并獲得相關(guān)實(shí)體的批準(zhǔn)。

第二：委員會(huì)必須聯(lián)系職能部門并了解發(fā)證機(jī)關(guān)的意見以幫助投資者獲得許可證。發(fā)證機(jī)關(guān)必須在被告知之日起15日內(nèi)作出拒絕、批準(zhǔn)或修改申請(qǐng)的決定。如未能及時(shí)做出答復(fù)，則應(yīng)視為批準(zhǔn)申請(qǐng)。如拒絕申請(qǐng)，發(fā)證機(jī)關(guān)必須說明原因。

第三：如在發(fā)放許可證問題上國家投資委員會(huì)的決定與除地區(qū)投資委員會(huì)以外的其他相關(guān)實(shí)體不一致，則應(yīng)提交總理解決。

第四：如登記申請(qǐng)被拒絕，申請(qǐng)人可以在收到拒絕決定通知之日起15日內(nèi)向地區(qū)或省級(jí)委員會(huì)主任提起申訴。委員會(huì)主任應(yīng)在7日內(nèi)就申訴涉及問題作出決定。申訴人可在深入被駁回之日起15日內(nèi)將委員會(huì)主任駁回申訴的決定上訴至委員會(huì)上級(jí)機(jī)構(gòu)，該機(jī)構(gòu)決定為最終決定。

第七章 一般條款

第二十一條

本法規(guī)定所涉及的項(xiàng)目資本由以下部分組成：

第一：通過金融銀行、公司或任何其他合法渠道進(jìn)入伊拉克、為實(shí)現(xiàn)本法目的而用于投資的現(xiàn)金。

第二：通過進(jìn)口進(jìn)入伊拉克的或用轉(zhuǎn)入伊拉克的現(xiàn)金從當(dāng)?shù)厥袌?chǎng)購買的實(shí)物資產(chǎn)及無形權(quán)利：

A． 與項(xiàng)目有關(guān)的實(shí)物資產(chǎn)。

B． 項(xiàng)目成立所需的機(jī)器、工具、設(shè)備、樓房、建筑、交通工具、家具及辦公設(shè)備。

C． 無形權(quán)利包括專利、注冊(cè)商標(biāo)、商業(yè)秘密、工程服務(wù)、行政及營銷服務(wù)等等。

第三：一個(gè)項(xiàng)目的追加資本提高或再投資于適用本法的其他項(xiàng)目而產(chǎn)生的利益、收益及儲(chǔ)備金。

第二十二條

外國投資者應(yīng)根據(jù)伊拉克與該國簽訂的國際協(xié)定或伊拉克加入的多邊國際協(xié)定享受額外優(yōu)惠。

第二十三條

如項(xiàng)目所有權(quán)在豁免期內(nèi)改變，只要新的投資者經(jīng)委員會(huì)批準(zhǔn)繼續(xù)在原專業(yè)化領(lǐng)域內(nèi)發(fā)展該項(xiàng)目，則項(xiàng)目就應(yīng)繼續(xù)享受豁免、協(xié)助及保障直到豁免期滿，。新投資者應(yīng)承繼根據(jù)本法規(guī)定產(chǎn)生的原投資者的權(quán)利和義務(wù)。

第二十四條

第一：經(jīng)委員會(huì)批準(zhǔn)，投資者可以其將享受豁免的固定資產(chǎn)出售或讓與給享有本法規(guī)定利益的另一位投資者，只要該投資者將這些資產(chǎn)用于自己的項(xiàng)目。

第二：在告知委員會(huì)之后，投資者可以在交納稅收和費(fèi)用后將享受豁免的固定資產(chǎn)出售給不適用本法的任何人或其他項(xiàng)目。

第三：經(jīng)委員會(huì)批準(zhǔn)，投資者可以再出口享受豁免的固定資產(chǎn)。

第二十五條

如兩個(gè)或兩個(gè)以上公司或企業(yè)合并，合并后的新公司必須為合并前的每個(gè)項(xiàng)目分別建立帳戶以便在豁免期滿之前登記并申請(qǐng)本法規(guī)定的豁免和優(yōu)惠。

第二十六條

任何根據(jù)原適用法律批準(zhǔn)的項(xiàng)目應(yīng)繼續(xù)按照原條款享受該法賦予的所有豁免直到豁免期滿。

第二十七條

除非當(dāng)事人另有協(xié)議，或與伊拉克法律專屬管轄的案件或伊拉克法庭管轄權(quán)限內(nèi)的案件相沖突，受本法調(diào)整的各方產(chǎn)生的爭議應(yīng)適用伊拉克法律。

1. 因工作合同而產(chǎn)生的爭議應(yīng)完全適用伊拉克法律，受伊拉克法院管轄。如工作合同另有規(guī)定，非伊拉克籍勞工應(yīng)得到豁免。

2. 如爭議當(dāng)事方為非伊拉克籍，并且爭議并非源于犯罪行為，當(dāng)事方可以對(duì)適用的法律、管轄法院等問題協(xié)商一致，并根據(jù)該協(xié)議解決爭議。

3. 如受本法規(guī)定影響的項(xiàng)目合伙人之間或項(xiàng)目所有人和項(xiàng)目其他人員之間產(chǎn)生的爭議導(dǎo)致項(xiàng)目停工三個(gè)月以上，投資委員會(huì)可以撤銷許可證并要求項(xiàng)目所有人在三個(gè)月之內(nèi)解決爭議。如三個(gè)月過后仍未解決項(xiàng)目合伙人之間或項(xiàng)目所有人和項(xiàng)目其他人員之間產(chǎn)生的爭議，委員會(huì)可采取法律手段清算項(xiàng)目并告知項(xiàng)目所有人或合伙人。清算結(jié)余在償清國家債務(wù)或其他債務(wù)之后應(yīng)存在一家銀行。

4. 如爭議一方受本法調(diào)整，當(dāng)事方在簽署協(xié)定時(shí)可就解決爭議的機(jī)制達(dá)成一致，包括根據(jù)伊拉克法律或其他任何國際認(rèn)可的機(jī)構(gòu)進(jìn)行仲裁。

5. 委員會(huì)或任何政府機(jī)構(gòu)與受本法調(diào)整的當(dāng)事方之間就不違反本法規(guī)定的事項(xiàng)產(chǎn)生的爭議應(yīng)適用伊拉克法律，受伊拉克民事法庭管轄。如在界定當(dāng)事方關(guān)系的合同中包含了仲裁條款，則當(dāng)事方可根據(jù)該條款將商業(yè)爭議訴諸仲裁。

第二十八條

如投資者違反本法任何規(guī)定，委員會(huì)有權(quán)對(duì)其提出書面警告，要求其在一定期限內(nèi)停止違法行為。如投資者未能在一定期限內(nèi)停止違法行為，委員會(huì)有權(quán)要求投資者或其代表說明其立場(chǎng)并要求其在額外期限內(nèi)解決問題。如投資者再次違法或未能停止違法行為，在不違反相關(guān)法律規(guī)定的任何懲罰或其他賠償?shù)那闆r下，委員會(huì)有權(quán)撤銷其發(fā)放給投資者的許可證，要求項(xiàng)目停工，保留國家從違法之日起撤銷投資者相關(guān)豁免及優(yōu)惠的權(quán)利，并允許他方保留對(duì)違法導(dǎo)致的損失求償?shù)臋?quán)利。

第二十九條

本法適用所有投資領(lǐng)域，以下領(lǐng)域除外：

第一：對(duì)油氣開采及生產(chǎn)的投資。

第二：對(duì)銀行及保險(xiǎn)公司行業(yè)的投資。

第三十條

部長理事會(huì)有權(quán)：

第一：為促進(jìn)本法的實(shí)施制定細(xì)則。

第二：為界定委員會(huì)的組成、部門、任務(wù)、工作程序、職能、財(cái)務(wù)、人事及其他事項(xiàng)制定細(xì)則。

第三十一條

為促進(jìn)部長理事會(huì)制定法規(guī)的實(shí)施，委員會(huì)可以根據(jù)本法規(guī)定出臺(tái)指導(dǎo)意見。

第三十二條

本法出臺(tái)前啟動(dòng)的現(xiàn)行項(xiàng)目，包括公私合營及私營部門所有的，經(jīng)項(xiàng)目管理層申請(qǐng)及委員會(huì)批準(zhǔn)，適用本法規(guī)定，不具有可追溯力。

第三十三條

違反本法規(guī)定的任何文書無效。

第三十四條

撤銷駐伊聯(lián)軍（已解散的）臨時(shí)當(dāng)局2003第39號(hào)令。

第三十五條

由已解散的革命指揮理事會(huì)出臺(tái)的2002第62號(hào)阿拉伯投資法宣告無效。

第三十六條

本法自載于公報(bào)之日起生效。

立法理由

通過鼓勵(lì)投資、支持在伊拉克成立投資項(xiàng)目并在不同經(jīng)濟(jì)層面擴(kuò)建并發(fā)展項(xiàng)目、為項(xiàng)目提供優(yōu)惠及豁免，以達(dá)到促進(jìn)經(jīng)濟(jì)和社會(huì)發(fā)展、引進(jìn)技術(shù)和科學(xué)經(jīng)驗(yàn)、開發(fā)人力資源、為伊拉克人創(chuàng)造就業(yè)機(jī)會(huì)的目的，制定本法。

The Investment Law No (13) of 2006

In the name of the people The Presidency Council Pursuant to what was approved by the Council of Representatives and endorsed by the Presidency Council and based on the provisions of paragraph (First) of Article (61) and paragraph (Third) of Article (73) of the Constitution, the following law is promulgated:

No (13) of 2006

The Investment Law

Chapter One

Definitions

Article 1

The following terms, wherever mentioned in this Law, shall have the following specific

meanings unless the context indicates otherwise:

A. The Council: The Council of Ministers

B. National Commission for Investment: The Commission established in accordance with this law responsible for drawing up the national policy and laying out its guidelines and monitoring the implementation of these guidelines and instructions in investment. It shall specialize in investment projects of a federal nature exclusively.

C. Region's Commission: The investment commission of the region responsible for granting investment licenses in the region.

D. Governorate Commission: The investment commission of the governorate not organized in a region responsible for investment planning and granting investment licenses in the governorate.

E. The Commission: The National Commission for Investment or the Region's Commission or the Governorate Commission as the case.

F. Chairman of the Commission: The Chairman of the National Commission for Investment

G. The Project: The economic activity subject to the provisions of this law.

H. The Assets: The tools, apparatuses, equipments, machineries, requirements, gear, transportation means and office furniture specified for exclusive use in the project, and the furniture, furnishings and the requirements of the hotels, tourist cities, hospitals, schools and colleges

I. The Foreign Investor: Is the investor who does not hold the Iraqi nationality in the case of a real person, and is registered in a foreign country in the case of a juridical or legal person

J. The Iraqi Investor: Is the investor who holds Iraqi Nationality in case of a real person and is registered in Iraq in the case of a juridical or legal person.

K. Taxes and Fees: All types of taxes and fees levied in accordance with the applicable laws.

L. The designed production capacity: Is the production capacity designed within a specific unit of time (hour, unit, day ... etc) in accordance to what is fixed in the documents incoming with the machines of the supplier.

M. Investment Portfolio: A collection of investments in shares and bonds.

N. Investment: Is the investment of capital in any economic or service activity or project that results in a legitimate benefit for the country.

Goals and Means

Article 2

This law aims at the following:

First: To promote investment and transfer modern technologies in order to contribute to the process of developing and enhancing Iraq, and expanding and diversifying its production and service base.

Second: To encourage the Iraqi and foreign private sector to invest in Iraq by providing the required facilities for establishing investment projects and enhancing its competitive capacities in the local and foreign markets for projects included in this law.

Third: To develop human resources based on market demands and provide work opportunities for the Iraqis.

Fourth: To protect the rights and properties of investors.

Fifth: To expand exports and improve the balance of payments and the balance of trade of Iraq.

Article 3

The following means shall be adopted to realize the objectives of this law:

First: To grant projects covered by the provisions of this law the necessary privileges and guarantees for its continuation and development by providing support in a way that enhances the competitive capacities of these projects in the local and foreign markets.

Second: To grant projects that obtained an investment license from the Commission, additional facilities and exemptions from taxes and fees in accordance with the stipulations of this law.

Chapter Two

The National Commission for Investment and the

Investment Commissions in the Regions and Governorates

Article 4

First: A Commission shall be established and called the "The National Commission for Investment". It shall enjoy a juridical personality and shall be represented by the Chairman of the Commission or the person authorized by him. It shall be responsible for drawing up the national policies for investment and drawing up its plans, regulations and guidelines as well as monitoring the implementation of these guidelines and instructions in investment. It shall specialize in strategic investment projects of a federal nature exclusively.

Second: The National Commission for Investment" shall be managed by a Board of Directors comprised of nine members who must be competent and specialized, and hold a college degree that suits the specialty of the Commission. They must not have been sentenced for a felony or misdemeanor of moral turpitude, or have declared their bankruptcy

Third:

A. Upon a request by the Prime Minister, the Council of Ministers shall nominate a Chairman of the Commission at a grade of Minister and a Deputy Chairman at a grade of Deputy-Minister for a period of five years and present them to the Council of Representative for approval.

B. The Prime Minister shall appoint four members for a period of five years at a grade of Director General.

C. The Prime Minister shall select three members from the private sector for five years after their nomination by Chairman of the Commission and specifying their compensations according to the bylaws.

D. At the conclusion of the membership of any member of the Commission referred to in Paragraph (A and B) of this Article in cases not involving dismissal and resignation, the Prime Minister shall assign them to any governmental entity at the same grade. Those mentioned in (A) of this article shall be retired on pension when not assigned to a government position equivalent to their grade.

E. The Council of Representatives may directly dismiss the Chairman of the National Commission for Investment and his Deputy, or upon a request by the Prime Minister for compelling reasons.

F. The Council of Ministers may dismiss or replace any member of the Commission or replace him with others in case he does not adhere to the standards and regulations of the Commission.

G. The Board of Directors of the National Commission for Investment shall meet at the invitation of its Chairman. A bylaw issued by the Commission shall specify the quorum, decision taking, making recommendations and the course of work of the Commission and any other issue.

H. The National Commission for Investment shall be connected to the Prime Minister.

I. The salary scale and entitlements of the Commission's employees shall be determined by a decision of the Prime Minister based on a proposal from the Chairman of the National Commission for Investment.

Fourth: The Commission's headquarters shall be in Baghdad and it may appoint representatives in the regions and governorates.

Fifth: The National Commission for Investment shall draw up an overall national strategic policy for investment identifying the more important of the sectors and shall prepare a map of investment projects in Iraq in the light of the information it receives from the regions and governorates. It shall also prepare lists of investment opportunities in strategic and federal investment projects with initial information about these projects and making it available to those wishing to invest.

Article 5

First: The regions and governorates not organized in a region may form investment commissions in their areas. The latter shall enjoy the powers of granting the investment licenses, investment planning, promoting investment and opening branches in their areas within the provisions of this law in consultation with National Commission for Investment to guarantee the availability of the legal conditions.

Second: the Investment Commissions of the regions and governorates shall be composed of at least seven members including the chairman and the vice chairman of at least seven years of experience and competence and with a university degree appropriate to the specialization of the commission and not convicted in a felony or a misdemeanor involving turpitude or has declare his bankruptcy.

Third: The regions and governorates not organized in a region shall establish a mechanism of forming the investment commission of the region and the governorate and removing the Commission's members in case he/she does not adhere to the standards and charters of the Commission in a way which is not in conflict with the provisions of this law.

Fourth: The Investment Commissions of the regions and governorate shall coordinate their work with the National Commission for Investment, and shall coordinate and consult with local governments regarding investment plans and facilities.

Fifth: The regions and governorates commissions shall draw up their investment plan in a way that does not contradict with the federal investment policy and shall prepare list of the investment opportunities in the areas that are subject thereto, with initial data about these projects and offer it to those wishing to invest.

Sixth: The region's Commission shall be connected to the Prime Minister of the region and is subject to the scrutiny of the region's Council. The governorate commission shall be connected to the Governor and is subject to the scrutiny of the governorate council in way that does not contradict with the provisions of this law.

Seventh: Regions and Governorates Commissions board of directors shall convene upon an invitation from their chairman. The quorum of convening and adopting resolutions and recommendations shall be determined by absolute majority. The conduct of work shall be organized by by-laws issued by the Commission.

Article 6

In addition to ordinary correspondence, the Commission may adopt electronic mail with the official entities connected with the work and activity of the Commission through local networks or the Internet according to guidelines set by the Commission.

Article 7

A. The Commission shall accept investment license requests for projects whose capital is not less than the minimum amount determined by the Council of Ministers or the Council of Ministers of region as the case, by a regulation issued based on a proposal by the Commission.

B. The Commission must obtain the approval of the Council of Ministers before granting the license if the value of the investment project is more than two hundred and fifty million dollars.

C. The Commission shall make its final decision concerning the requests of investment license within a period not exceeding (45) forty five days from the date of filing a request.

D. The decisions of the Commission regarding the approved investments projects shall be obligatory for the purposes of this law.

Article 8

The Commission shall have an independent annual budget whose revenues shall be made up of its allocated amounts in the State General Budget.

Article 9

The Commission shall promote investment by working on the following:

First: Building confidence in the investment environment, identifying investment opportunities, and promoting and stimulating investment in them.

Second: Simplifying the procedures for registration, issuing of investment projects licenses, and following up on existing projects and giving them priority in processing with the official entities. Completing the procedures of answering investor requests and obtaining the required approvals for the investor and the project.

Third: Establishing one window at the National Commission for Investment and the Regions and Governorates Commissions, which includes authorized representatives from the ministries, and members nominated by the Councils of the regions and governorates as the case and the concerned authorities to undertake issuing licenses and obtain the approvals of other authorities in accordance with the law.

Fourth: Providing advice, information, and data to investors and issuing special manuals in this regard.

Fifth: Setting forth and implementing programs to promote investment in different areas of Iraq in order to attract investors.

Sixth: Facilitating the allocation of the needed lands and renting them out for establishing projects for a sum to be determined by the Commission in coordination with the concerned authorities.

Seventh: Establishing secure and free investment areas with the agreement of the Council of Ministers.

Eighth: Encouraging Iraqi investors (residing in Iraq) through providing them with easy loans and financial facilities in coordination with the Ministry of Finance and with the assistance of Banking Institutions, provided that the investor obtaining the loan shall employ a number of unemployed Iraqis proportional with the volume of the loan.

Ninth: Any other tasks related to its work and assigned by the Council of Ministers.

Chapter Three

Privileges and Guarantees

Article 10

The Investor irrespective of his/her nationality shall enjoy all privileges, facilitations and guarantees and shall be subject to the obligations stated in this law. The Iraqi and foreign investor shall have the right for, the purposes of housing projects, the use of the land for a sum to be determined between him and the land owner without land speculation according to conditions set forth by the National Commission for Investment and the approval of the Council of Ministers. The Commission shall facilitate the allocation of the required lands for the housing projects. The housing units shall be allocated for ownership by the Iraqis after the completion of the project.

Article 11

The investor shall enjoy the following benefits:

First: The investor shall have the right to take out the capital he brought into Iraq and its proceeds in accordance with the provisions of this law and pursuant to the instructions of the Central Bank of Iraq in an exchangeable currency after paying all his taxes and debts to the Iraqi Government and all other authorities.

Second: The foreign investor shall have the right to:

A. Exchange shares and bonds listed in the Iraqi Stock Exchange.

B. Form investment portfolios in shares and bonds. Third: Renting or leasing lands needed for the project for the term of the investment project, provided that it does not exceed 50 years renewable with the agreement of the Commission, and provided that the nature of the project and its benefit for the national economy is taken into consideration when determining the period.

Fourth: Insuring the investment project with any foreign or national insurance company it deems suitable.

Fifth: Opening accounts in Iraqi or foreign currency or both at a bank inside or outside Iraq for the licensed project.

Article 12

This law shall guarantee the following for the investor:

First: Priority in recruitment and employment shall be given to Iraqi workers. The right to employ and use non-Iraqi workers in case it is not possible to employ an Iraqi with the required qualifications and capable of performing the same task in accordance with guidelines issued by the Commission.

Second: Granting the foreign investor and non-Iraqis working in the investment projects the right of residency in Iraq and facilitating his/her entry and exit to and from Iraq.

Third: Non-seizure or nationalization of the investment project covered by the provisions of this law in whole or in part, except for projects on which a final judicial judgment was issued.

Fourth: Non-Iraqi technicians and administration employees working in any project shall have the right to transfer their salaries and compensations outside Iraq in accordance with the law after paying their dues and debts to the Iraqi government and all other entities.

Article 13

Any amendment to this Law shall not have any retroactive affect regarding the

guarantees, exemptions, and rights recognized by this Law.

Chapter Four

Investor Obligations

Article 14

The investor shall observe the following:

First: To notify the National Commission for Investment (inserted in handwriting ), the Region or Governorate Commission in writing immediately after the installation and equipping of the fixed assets for the purposes of the project and the date of the beginning of commercial activity.

Second: To keep proper records audited by a certified accountant in Iraq in accordance with the law.

Third: To provide an economic and technical feasibility study for the project and any information, data or documents required by the Commission or other competent authorities regarding the budget of the project and the progress made in its execution.

Fourth: To keep records of the project's duty-free imported materials in accordance with the provisions of this Law and specifying the depreciation periods of these materials.

Fifth: To protect the safety of the environment and to adhere to the valid quality control systems in Iraq and international regulations accredited in this field, also the laws related to security, health, public order and values of the Iraqi society.

Sixth: To adhere to the valid Iraqi laws regarding salaries, vacations, work hours and conditions and others as a minimum.

Seventh: Commitment to the correspondence of the work progress schedule submitted by the investor with reality provided that the time difference shall not exceed six months, and that the National Commission for Investment shall set forth punitive conditions in case of exceeding the six-month period and that the Commission shall have the right to withdraw the license.

Eighth: To train and rehabilitate its Iraqi employees as well as raising their efficiency, skill and capabilities. Priority in employment and recruitment shall be given to the Iraqis.

Chapter Five

Exemptions

Article 15

First: The project that has obtained an investment license from the Commission shall enjoy exemption from taxes and fees for a period of (10) ten years as of the date of commencing commercial operations in accordance with the areas of development defined by the Council of Ministers at the suggestion of the National Commission for Investment based on the degree of economic development and the nature of the investment project.

Second: The Council of Ministers shall have the right to propose draft laws to extend or grant exemptions in addition to the exemptions stipulated in paragraph (First) of this Article, or provide incentives, guarantees or other benefits to any project or sector or region and for the years and percentages it deems appropriate in accordance with the nature of the activity, its geographical location and its contribution to manpower employment and its effect on driving the economic development, and for considerations of national interest.

Third: The National Commission for Investment has the right to increase the years of tax and fees exemption in a way directly proportional to the increase in the Iraqi Investor share in the project to reach fifteen years if the Iraqi Investor share in the project was more than 50%.

Article 16

If the project is moved during the granted period of the exemption from a development area to another, the project shall receive, for the purposes of the exemption mentioned in paragraph (First) of Article (15) during the remaining term, the treatment of the projects in the development areas it is moving to, provided that the Commission is informed of such move.

Article 17

The project that obtains an investment license shall also enjoy the following:

First: Assets imported for the purposes of the investment project shall be exempted from fees, provided that their entry to Iraq is made within (3) three years from the date of granting the investment license.

Second: The imported assets required for the expansion, development or modernization of the project shall be exempted from fees in case they led to an increase in the designed capacity, provided they are brought in within three years from the date of notifying the Commission of the expansion or development. Expansion, for the purposes of this law, shall mean adding fixed capital assets aimed at increasing the designed capacity of the project in commodities or services or materials by a percentage exceeding (15%) fifteen percent. Development, for the purposes of this law, shall mean replacing project machines with more developed ones, totally or partially or making a development on the standing devices and equipments of the project by adding new machines and devices or parts thereof with the aim of raising the productive efficiency or improving and developing the quality of the products and services.

Third: Spare parts imported for the purposes of the project shall be exempted from fees if the value of these parts does not exceeded (20%) twenty percent of the fixed assets value, provided that they are not be used for any other purpose.

Fourth: Hotels, tourist institutions, hospitals, health institutions, rehabilitation centers and educational and scientific organizations projects shall be granted additional exemptions from duties and taxes on their imports of furniture, furnishings and requisites for renewing and updating purposes at least once every four years, provided that these items are brought into Iraq or used in the project within (3) three years from the date of the approval decision of the Commission on the import lists and their quantities, and provided that these items are not used for purposes other than the imported purposes.

Article 18

If it is found that the fixed assets exempted, in whole or in part, from taxes or fees were sold in violation of the provisions of this law or were used in anything other than the project or for purposes other than the authorized purposes, the investor must pay the taxes, fees, and fines incurred pursuant to the law.

Chapter Six

Procedures for Granting Investment and

Project Establishment License

Article 19

First: The investor shall obtain the license in addition to obtaining the rest of the licenses for the purpose of enjoying the privileges and exemptions provided by the Commission.

Second: The Commission shall grant the license for investment or project formation based on a request submitted by the investor according to conditions facilitated and prepared by the Commission. The request submitted by the investor shall include the following:

A. Filling a request form prepared by the Commission

B. Financial competency from an accredited bank

C. Projects performed by the investor inside or outside Iraq

D. Details of the project intended to invest in and its economic feasibility.

E. A timetable for completing the project.

Article 20

First: The Commission must issue the establishing license through establishing one window in the region or the governorate not organized in a region that includes authorized representatives of the ministries and relevant bodies. The Commission shall grant project formation license and obtain approvals from the entities in accordance with the law.

Second: The Commission must help the investor to obtain licenses by approaching the competent authorities and exploring the opinions of the entities concerning the issuance of the formation license. These entities must issue the decision to reject, approve or request amendment within 15 days from the date of being notified. The failure to reply from the entity from which the opinion is solicited shall be deemed as an approval and in case of a rejection there must be cause for it.

Third: In case of disagreement between the National Commission for Investment decision and the other relevant entity regarding the granting of the license other than the Region's Commissions, the dispute shall be brought before the Prime Minister for settlement.

Fourth: In case the request for registration is rejected, the requestor may file a complaint to the Chairman of the region or the governorate Commission concerned within (15) fifteen days after receiving notification of the rejection decision. The Chairman of the Commission concerned shall take a decision concerning the complaint in question within a period of seven days. The petitioner may appeal the decision of the Chairman of the Commission concerned rejecting his complaint to the authority to which the Commission concerned is connected to within 15 days from the date the complaint's rejection and its decision is deemed final.

Chapter Seven

General Provisions

Article 21

The project capital subject to the provisions of this law shall be made up of the following: First: Cash transferred to Iraq through financial banks and companies or any other legal means with the aim of investing it for the purposes of this law.

Second: The in-kind assets and incorporeal rights imported to Iraq or purchased

from the local markets by the cash transferred into Iraq:

A. In-kind assets related to the project.

B. The machinery, tools, equipment, buildings, constructions, transportation means, furniture and offices appliances required for establishing the project.

C. The incorporeal rights that include patents, registered trade marks, technical know-how, engineering services, administrative and marketing services and the similar.

Third: Profits, proceeds and reserves resulting from the capital invested in Iraq in the project if the capital of such a project was increased or was invested in another project covered by the provisions of this law.

Article 22

The foreign investor shall enjoy additional privileges in accordance with international agreements signed between Iraq and his country or multilateral international agreements which Iraq has joined.

Article 23

If the project ownership is transferred during the granted period of the exemption, it shall continue to enjoy granted exemption, facilities and guarantees until the end of that period, provided that the new investor continue to work on the project in the same specialization or in another, with the approval of the Commission. The new investor must take the place of the former investor in the rights and obligations consequent to the provisions of this law.

Article 24

First: The investor, with the approval of the Commission, may sell exempted fixed assets or relinquish it to another investor benefiting from the provisions of this law, provided that he uses them in his project.

Second: The investor, after informing the Commission, may sell the exempted fixed assets to any person or other project not subject to the provisions of this law after paying the outstanding fees and taxes.

Third: The investor, with the approval of the committee, may re-export the exempted fixed assets.

Article 25

In the event two or more companies or enterprises merge, the new company or entity resulting from the merger must set up separate accounts for each project before the merger in order to register and apply exemptions and facilitations stipulated in this law during the remaining period of the exemption.

Article 26

Any project approved in accordance with the provisions of the previous applicable laws shall continue to benefit from all exemptions granted to it pursuant to that law and until the expiration of the exemption period and under the same terms.

Article 27

Disputes arising between parties who are subject to the provisions of this law shall be subject to the Iraqi law unless otherwise agreed, contrary to the cases that are subject to the provisions of the Iraqi law exclusively or the jurisdiction of Iraqi courts.

1 Disputes arising from the work contract shall exclusively be subject to the provisions of the Iraqi law and the jurisdiction of Iraqi courts. Non-Iraqi laborer shall be exempted if the work contract stipulated otherwise.

2 If parties to a dispute are non-Iraqis and in disputes not arising from a crime, the opponents may agree on the law to be applied, the competent court or any other agreement to resolve their dispute.

3 If a dispute between the partners or between the owner of the project and others in a project subject to the provisions of this law resulted in the stoppage of work for a period exceeding three months, the Investment Commission may withdraw the license and ask the owners of the project to settle the dispute within a period not to exceed three months. If such period elapsed without settling the dispute between the partners or between the owner of the project and others, the commission may take legal measures to liquidate the project and notify the owner of the project or one of the partners of such action. The liquidation money shall be deposited in one of the banks after paying the dues of the State or any other dues after final judgment of their entitlement is rendered.

4 If one of the parties to a dispute is subject to the provisions of this law, they may, at the time of signing the agreement, agree on a mechanism to resolve disputes including arbitration pursuant to the Iraqi law or any other internationally recognized entity.

5 Disputes arising between the Commission or any governmental entity and any of those subject to the provisions of this law on matters not related to violations of one of the provisions of this law shall be subject to Iraqi law and courts on civil matters. As for commercial disputes, parties may resort to arbitration provided that such an arrangement is stipulated in the contract organizing the relationship between parties.

Article 28

In case the investor violates any of the provisions of this law, the Commission shall have the right to warn the investor in writing to remove the violation within a specific period. In case the investor does not remove the violation within the specified period, the Commission shall summon the investor or who represents him to state his position and grant him other respite to settle the issue. Upon repeating or not removing the violation, the Commission shall have the right to withdraw the investor's license it issued and order stoppage of work on the project and retain the State's right to deny the investor the granted exemptions and privileges from the date of the violation and allow others to retain their rights to demand compensation for the damage caused by this violation, without breaching any punishments or other compensations stipulated in the applicable laws.

Article 29

All areas of investments shall be subject to the provisions of this law except:

First: Investment in Oil and Gas extraction and production.

Second: Investment in banks and insurance companies sectors.

Article 30

The Council of Ministers shall have the right to:

First: Issue regulations to facilitate the implementation of the provisions of this law.

Second: Issue bylaws defining the Commission's formations, divisions, tasks, process of its work, its authorities, financial affairs, employee affairs and any others matters.

Article 31

The Committee may issue instructions to facilitate the implementation of regulations issued by the Council of Ministers pursuant to the provisions of this law.

Article 32

The Provisions of this law shall be applied to the existing and operating projects of the mixed and private sectors which have commenced before the issuance of this law and upon a request from its management and the approval of the Commission with no retroactive effect.

Article 33

No text shall be valid which contradicts the provisions of this law.

Article 34

The (dissolved) CPA Order No. 39 of 2003 shall be revoked.

Article 35

The Arab Investment Law no (62) of 2002 issued by the dissolved Revolution Command Council shall be annulled.

Article 36

This Law shall enter into force from the date of its publication in the Official Gazette.

Justifying Reasons

For the purpose of driving the process of economic and social development and bringing technical and scientific experience and developing human resources, and for creating work opportunities for the Iraqis by encouraging investments and supporting the process of establishing investment projects in Iraq and their expansion and development at various economic levels and by granting privileges and exemptions for these projects, this law is legislated.