On Thursday August 22, the Ministry of Trade (‘Ministry’) in cooperation with the Federation of Chambers of Commerce (‘Federation’) launched Iraq’s first “One Stop Shop” for company registration. The Ministry of Trade was represented at the event by Deputy Minister Waleed Habeeb Al-Mosawy; the Federation was represented by Secretary General Abdulhuessein Almubaraka.
The U.S. Embassy in Baghdad through the U.S. Agency for International Development (USAID) supports the Ministry and the Federation through ‘ISRAR’ (“Iraqi Solutions for Regulatory and Administrative Reform”), a component of the USAID-Tarabot Administrative Reform Project.
In his remarks, the USAID Mission Director, Mr. Thomas H. Staal, congratulated the Government of Iraq, noting that the One Stop Shop is a model for further reform to ease the cost, time and difficulty of doing business in Iraq. “We are very pleased to be part of this important launch today. USAID has been working hard with its Iraqi partners to improve the business environment. This launch is part of this effort,” Mr. Staal stated.
The new One Stop Shop will allow businesspersons to reserve a company name at the same location where they file for company registration. Before the One Stop Shop, this action required three separate visits to different offices. In addition, an online database was recently launched (http://iraq-trade-names.com) that allows businesspersons to verify immediately if a trade name is already in use.
Iraqi businesses will save money and time with the new One Stop Shop and other reforms supported through ISRAR and USAID’s Tarabot project. This in turn will help accelerate the generation of new jobs and economic opportunities for people throughout Iraq.
USAID-Tarabot works with the Government of Iraq as outlined in the Strategic Framework Agreement to help it strengthen public management institutions and improve delivery of services to its citizens.
(Source: Embassy of the United States)