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July 17, 2003: CPA Waives Requirement for Foreign Investors in Telecommunications Industry

2003-07-17

A senior Coalition Provisional Authority (CPA) official announces plans to waive an existing Iraqi law requiring foreign investors in the telecommunications industry to subcontract at least 51 percent of their work to Iraqi companies. The CPA justifies the move saying that the waiver would encourage investment by reducing the risk for foreign telecom companies. The waiver will expire in two years. [Revenue Watch Institute, 2003, pp. 4 pdf file; Financial Times, 7/18/2003]