Basra, April 17 (AKnews) - The head of Basra Investment Commission said on Sunday that his board is serious in seeking to develop economic and trade relations between Iraq and Kuwait through investment.
Haidar al-Ali Fadel told ِAKnews that Basra Investment Commission seeks to ensure the support of the Kuwaiti investor in an attempt to correct the mistakes of the past of two countries that share neighborhood, history, traditions and common destiny.
"Support is through granting the Kuwaiti investor the necessary legal guarantees in accordance with the law of the foreign investor as well as government guarantees for the Kuwaiti investment projects held in Iraq."
"Kuwaiti investor support will also be through the Iraqi investment law that gives tax exemption for ten years on all types of taxes, in addition to customs exemption for each material used in the investment projects."
"The Kuwaitis have about the 1000 real estate in Basra, that was being exploited and invested by Kuwaitis before the invasion of Kuwait by the former regime."
There are serious attempts to return Kuwaiti property in Basra to its rightful owners, especially Basra province that has a list of names and places of real estate in Kuwait.
Iraqi specialists believe that Kuwait had confiscated 86 farms, located in Safwan area and included it to Abdali area of Kuwait in 1994; farmers who have lost their farms did not get any compensation so far.
http://www.aknews.com/en/aknews/2/232906/
Haidar al-Ali Fadel told ِAKnews that Basra Investment Commission seeks to ensure the support of the Kuwaiti investor in an attempt to correct the mistakes of the past of two countries that share neighborhood, history, traditions and common destiny."Support is through granting the Kuwaiti investor the necessary legal guarantees in accordance with the law of the foreign investor as well as government guarantees for the Kuwaiti investment projects held in Iraq."
"Kuwaiti investor support will also be through the Iraqi investment law that gives tax exemption for ten years on all types of taxes, in addition to customs exemption for each material used in the investment projects."
"The Kuwaitis have about the 1000 real estate in Basra, that was being exploited and invested by Kuwaitis before the invasion of Kuwait by the former regime."
There are serious attempts to return Kuwaiti property in Basra to its rightful owners, especially Basra province that has a list of names and places of real estate in Kuwait.
Iraqi specialists believe that Kuwait had confiscated 86 farms, located in Safwan area and included it to Abdali area of Kuwait in 1994; farmers who have lost their farms did not get any compensation so far.
http://www.aknews.com/en/aknews/2/232906/
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