During the Elaborated Economic conference for Investment Projects in Iraq

NIC Chairman: the New Amendment of Investment Law Gave New Privileges to Investors

Under the Patronage of H.E Prime Minister of Iraq, Mr. Haider Al- Abadi and under the slogan of

((Our Economy if Our Wealth))

The Elaborated Economic Conference for Investment Projects in Iraq was held in Baghdad on the 17^th of October.16 organized by the Supreme Committee of Provincial Coordination and the National Investment Commission with the attendance of a number of Parliament members, Ministers, Governors, Heads of Provincial Councils, Heads of Provincial Investment Commissions in addition to representatives of banks, foreign and Iraqi investors and businessmen, aiming at activating the suspended investment projects in all Iraqi provinces and announcing new investment opportunities.

The conference works started with a welcoming speech by the head of the Supreme Committee of Provincial coordination, Dr. Torhan Al- Mufti who noted that the event would consist of four workshops each one would be concerned with a number of provinces and the projects available there to be discussed with investors through an open dialogue.

Dr. Mahdi Al- Alaq, the General Secretary of the Ministers’ Council who represented H.E Prime Minister of Iraq by an opening speech through which he conveyed the Government’s interest and direction of activating and supporting private sector by holding several meetings that resulted in ratifying a package of recommendations in coordination with the concerned banks to ensure their leading role in the economic field.

Al- Alaq also referred to the Government’s decision to pay the contractors’ dues, though partially, and lay down mechanisms for postponed payment is a decision that confirmed its keenness to proceed with investment movement, showing his hope that this event can achieve positive results in the work of the concerned executive sides.

Dr. Sami Al- Araji, NIC Chairman and through his speech reviewed the work of the National Investment Commission since the investment law approval in 2006, referring that NIC granted between 2009- 2016 (1336) investment license with total value of (90.1) billion $ distributed on various economic fields.

Al- Araji asserted that NIC had announced (940) investment opportunity in 2015 and (992) opportunity in 2016 in different sectors and provinces, presenting an overview of these investment opportunities in the fields of Oil & Gas, power, housing, transport, industry, tourism, services, youth & sport, and agriculture.

The opening session also consisted of speeches for the DG of TBI bank – Mr. Faisal Al- Heimas, IFC regional manager- Mr. Ziad Bder, and the financial manager of GE company.

Worth mentioning that this event included all available investment opportunities in all sectors in Iraq through the interactive workshops that covered all Iraqi provinces.

Announcement

Ministry of Health and Environment in coordination with the National Investment Commission are announcing an investment opportunity of constructing disease testing labs in Baghdad (according to investment law No. 13 for the year 2006 as amended and the regulations issued in its accordance) according to the specifications shown below:

1- The investing company is required to rent buildings or apartments to be specified to establish the testing labs referred to above.

2- The labs are to be supervised by the Ministry of Health and Environment / department of technical affairs/ testing labs section.

3- These labs are to be supported by sending them patients from the public health institutions in case they do not have the necessary lab testing.

4- The procedures mentioned in the regulations No. (2) for the year 2006 ( of granting the license of practicing the private lab work for disease analysis) are to be applied in opening these labs in all specializations.

5- The labs are to consist of two floors or more :

a- Ground floor: a big hall of (85-100 m²) to be divided according to the number of sections and specializations with providing all medical and office services.

b- The first floor: consists of (2) pedagogic halls at least in order to conduct training courses in coordination with the section of graduated students and trainees.

c- The lab is to be an independent building and not annexed with any irrelative commercial utility.

6- The lab is to be equipped by the investing company with all modern and developed equipments (Automation) according to the need of the testing units intended to be activated with providing the quality control materials in coordination with the testing labs section in the Ministry of Health.

7- Providing the building with all office furniture, air conditioning systems, and furnishing the pedagogic halls in a way that match the work volume.

8- The investment company pledges to pay all building dues of electricity and water supply bills in case of submitting to renting and taxing system.

9- Training all private and public colleges’ graduates concerned with the testing labs work with organizing vocational training courses, against prepaid fees, through which trainees are to be theoretically and practically evaluated and appreciation certificates will be awarded to the passers by the testing labs section in the Ministry of Health.

10- The company pledges to train the workers of the lab to use the modern devices, place and period are to be specified later.

All interested companies and investors are invited to submit their applications to the Ministry of Health and Environment / Private Health sector section or to the National Investment Commission through the email address (info@investpromo.gov.iq ) knowing that the closing date is 15.11.2016.