Investment Law No.13 of 2006 as amended with Law No.2 of 2010 and Law No.50 of 2015.

This Law consisting of 37 articles aims to (i) 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; (ii) 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; and (iii) develop human resources based on market demands and provide work opportunities; (iv) protect the rights and properties of investors.; and (v) expand exports and improve the balance of payments and the balance of trade of Iraq. To realize these objectives the following will be adopted (i) 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; and (ii) grant projects that obtained an investment license from the Commission (meaning the National Investment Commission, or the Region Commission, or the Province Commission as applicable) additional facilities and exemptions from taxes and fees.
Article 4 establishes the National Investment Commission. It is a tool to facilitate the investment process by providing investors with streamlined licensing and investment services, and it is responsible for (i) establishing the national investment policy and determining the priority sectors; (ii) establishing the guidelines for it; (iii) monitoring the implementation of these guidelines in the field of investment, and (iv) shall be specialized in the strategic investment projects on a federal level. Furthermore, the Commission (i) issues investment licenses (an investment license is not required to invest but it can provide substantial benefits to an investor) and (ii) gives post–licensing support. In the regions and governorates that are not affiliated with a region, Investment Commissions are to be formed, which have corporate personalities and are represented by their heads or anyone authorized by the head (art.5). Detailed tasks of the Commission are explained at article 7, while article 9 explains the fields of work of the Commission. Privileges and Guarantees for both Iraqi and foreign investors are dealt with in the article 10. Article 11 deals with rights of the investor. Chapter IV regards the Investor Obligations, such as notifications, technical feasibility studies, quality control systems, etc. Exemption from taxes and fees is the subject of Chapter V.