Legal insurance for investment projects in Iraqi law

The countries attracting investment seek to provide adequate guarantees to investors in order to attract foreign investors and encourage national investors, because the investment plays a large role for these countries as it helps in developing the infrastructure, as well as providing job opportunities and training the national manpower, and the development and development of various Industries. Therefore, the Iraqi Investment Law No. (13) of 2006 (amended) was issued in Iraq, which referred to the provision of adequate and encouraging guarantees for investors for the purpose of investing in Iraq.

In addition to the fact that the investor may seek to insure his investments from the risks he is exposed to through national insurance systems in his country or through international insurance systems to guarantee investments, as these systems seek to compensate the investor in the event that his investments are exposed to the risks guaranteed by the Commission under a contract The guarantee that is concluded between the investor and national or international insurance companies in return for installments to be agreed upon between the investor and those bodies that investment projects have a major role in developing the economies of the world countries

However, there are many difficulties facing investors in establishing investment projects, including those related to expropriation of the investment project, nationalization, confiscation, prevention of currency conversion, war and internal unrest. Therefore, many countries resorted to facilitating the entry of investors to it by providing the necessary guarantees. The civil laws did not provide a specific definition for an investment project. Rather, some of them provided a definition of investment, as is the case in Iraqi law, and there are many investment projects, including national and foreign projects, and in terms of their management method, they are divided into direct and indirect projects. And that the investor prefers direct projects because it guarantees him the right to control and supervise the investment project.