The legal framework for the development of joint-stock companies’ activities under Iraqi Companies Law No. 21 of 1997, as amended

Abstract

Developing countries, including Iraq, realize the importance of achieving economic progress, and that their legislative system does not only aim to reduce the gap between backwardness and poverty, but also seeks to expand economic growth to reach the levels achieved by capitalist industrial countries in developing the legislative system and raising industrial and vital production capacities by adopting integrated legislative systems and focusing on economic legislation, including company laws, and paying attention to joint-stock companies as the most important economic tool in achieving economic progress through their development and expansion of activity. This is a procedure that we hope to achieve in the Iraqi Commercial Companies Law No. 21 of 1997, as amended, and to strive to develop the various economic structures and transform them from primitive, basic production to advanced and integrated industrial production.