Licenses

NIC granted three investment licenses. The first one in 1/11/2009 to implement cold warehouses and Al Yousif Expiation by Samir Coyal Yosho for 4604400 USD, implementation period 18 months. It is one of the Iraqi national private sector project. At the moment, it has no cooling system facing extinction in infrastructure. Investment project includes rehabilitation, modernization, and development to become usable for imported red and white meet in addition to building a purchasing center, administration building and any other required facilities.

In 22/11/2009, NIC granted another license to build a mall by Mafkhar Ardh Co. with capital of 12 m USD for 2 years to implement. It is one of the private sector projects.

Iraqi delegation to Egypt discusses aspects of joint cooperation between the two countries

egypt_meeting-a80b1240The Egyptian company, Aura Skom Al-Masria, expressed readiness and willingness to implement low income housing projects in Iraq once available land is provided. This annoucement came during the visit of an Iraqi delegation to Egypt, headed by Dr. Adnan Ramahi Director, General of Legal Affairs at the Iraqi National Investment Commission (NIC).

The Iraqi delegation was briefed on the various aspects of the Egyptian investment experience, including the residential and tourism projects implemented by the company. Discussion was held around ideas to develop areas of integrated residential homes built with different construction models that incorporate lost cost housing materials.

Dr. Adnan Ramahi also met with Mr. Mahmoud Mohi El Din, Minister of Investment regarding the preliminary version of the training program to be held with the Egyptian Investment Authority on the topics of financial controls, securities and insurance. This training is in line with memoranda of understanding signed between the two countries that included training (480) staff.

The Iraqi delegation also met with a number of other large investors interested in investing in Iraq with the purpose of showcasing the Iraqi investment law and available investment opportunities. Dreamland Group and representatives from Cleopatra and Al-Hisan companies expressed their willingness and enthusiasm to invest in Iraq in a variety of areas including housing complexes, hospitals, factories, and agriculture projects if land were to be made available.

Once conditions regarding land ownership, construction financing and mortgage financing are laid out Egypt expects to be the leading country in the Middle East involved in housing project investments.

Basra’s Investment Commission Issues its first investment License in the health sector

hospital-0194bfc6Basra Investment Commission licenses first investment in the health sector to build a maternity hospital extension.

The Director of the Basra Investment Commission, Haider Ali Fadel, said “Basra Investment Commission granted the first license to invest in the health sector in the city. The project will be an expansion by Al-Mousawi private hospital to build a maternity extension (valued at 3 billion dinars) and will take up to three years to complete construction.”

He stated that the “This maternity hospital is the first of its kind in the Basra area, will occupy of 1,547 square meters, and is located within the existing hospital. The expansion will include the establishment of a four-story building on a piece of land belonging to the company (307 square meters) to construct a section for gynecological and obstetrics equipped with the latest technology.” He also noted, “The expansion will also include the development of the sixth floor of the building to be supplied with equipment for intensive care and premature babies. The expansion will also include the necessary medical equipment for catheterizations and open heart operations.”

Najaf Provincial Investment Commission (PIC) signed a Memorandum of Understanding (MoU) with an Australian company

Najaf_Province_Map-8a3427aaThe Najaf PIC signed a MoU with representatives of an Australian company to implement several projects in the Najaf governorate including the establishment of 30,000 housing units in an area of 1,200 acres. The MoU also included the establishment of a date factory in Kufa on a lot of 15 acres, the construction of 5,000 housing units on an area of 270 acres, and the establishment of a cement factory occupying 20 acres. This information was received from the weekly newsletter of the Najaf PIC.

Investment Opportunity to Build Five Hundred Thousand (500,000) Housing Units in Iraq

Dear Investors,
The National Investment Commission (the “NIC”) is committed to bringing opportunities to the investor community that are essential to the Iraqi citizens, provide growth and development for the country and offer significant returns on investment. In line with these goals, we at the National Investment Commission are proud to be presenting this opportunity for investment in Iraq’s housing sector.

This investment announcement to interested investors, parties, developers, financiers and construction companies is intended to begin a large-scale program addressing Iraq’s significant housing and infrastructure shortages.

This announcement provides interested parties an overview of the proposed housing initiative and the preliminary requirements for project submission. If you have any questions on the memorandum below, or would like further information on the program, please communicate with us by email at iraqhousing@investpromo.gov.iq. The NIC will be conducting this process under Iraq’s Investment Law (Law No. 13 of 2006).

In response to this announcement, we require information regarding your company and your proposed approach on how to best address the housing and infrastructure needs, maintenance programs and overall development strategy. The same information will be gathered from all companies and will be used in the process of awarding of a development project hereunder. We look forward to hearing from those parties who want to be part of this historic effort.

Sincerely,

Dr. Sami Al-Araji
Chariman
National Investment Commission
14 December 2009

**Please note: the attached .pdf document has been updated to reflect the change in the timing for questions and company information submittals. The date has been extended to 1 March, 2010 and any future changes to the timeline will be noted on this website.**

To download the full PDF version of the official announcement and complete a company information form (required for those wishing to request further details) please follow the link below:
Housing_Announcement.pdf

Babel PIC gives new invest opportunities to foreign and local companies

Iraq-2009-25123-c6574068The Babylon Provincial Investment Commission (PIC) granted new licenses to a number of foreign and domestic investment companies.

The head of the Babylon PIC, Alaa Harba, stated in a press statement that the Commission has granted investment licenses to a number of companies under the new investment law.

One of the largest investment licenses was granted to Middle Euphrates to set up a factory for packaging of dates, valued at 538 million dinars. The project will require hiring more than 200 workers, and because Babylon is the center for cultivation of palm trees, this investment is expected to result in follow on projects to serve the producers of dates in the province. Mr. Harba expressed that he hopes this project contributes to the export of Iraqi dates in support of the national economy.

Without specifying name of the projects, there were other companies that received investment licenses for eight other projects.

Open Invitation by US Commercial Service

Dear Businessmen & Businesswomen of Iraq,

The U.S. Commercial Service is now recruiting Iraqi companies to attend Power-Gen International 2009 (PGI 2009) held at Las Vegas Convention Center, Las Vegas, Nevada on 8-10 December 2009.

PGI is the electric power generation idustry’s largest event in the world, attracting more than 18,000 attendees and 1,200 exhibitors from over 75 countries. Focused on providing the latest updates and information on key generation issues, PGI features a multi-track conference program plus curriculum of pre-conference courses. The world’s largest power exhibition is held concurrently with the conference, showcasing thousands of products, technologies and services. For more information on PGI 2009, please check out the show’s website: www.power-gen.com

As a member of our delegation to this important trade show, the U.S. Commercial Service provides the following services for a fee of $500:

Prior to departing for the U.S., Commercial Advisor (CA) Sam Kafil will brief you about doing business with U.S. companies, review your travel plans, schedule meetings for you during the show with U.S. companies interested in doing business in Iraq, prepare a one page profile of your company for distribution during the show and assist you with your visa application to the U.S.
CA Kafil will also attend the show with you and will be available to assist you with meetings and questions about doing business with U.S. companies. We will register you as a member of our Iraqi Delegation and as part of our delegation you will have free access to the International Business Center where you can hold private business meetings.
After the show CA Kafil will continue to work with you to assist you to follow-up with the U.S. companies in which you are interested.

If you wish to participate in PGI 2009, please contact one of our Commercial Advisors for additional information about the trade show or if you have any questions about our services:

Mr.Kurdo Jaff
Commercial Advisor
U.S. Commercial Services
U.S. Embassy- Baghdad
Cell:07704430172
Email:Kurdo.Jaff@mail.doc.gov Mr. Osama Kafil-Hussain
Commercial Advisor
U.S. Commercial Services
U.S. Embassy-Baghdad
Cell: 07704430467
Email:Sam.Kafil@mail.doc.gov Mr. Dara Saeed
Commercial Advisor
U.S. Commercial Service
U.S. Embassy-Baghdad Cell: 0750479-1668
Email:SaeedDN@State.gov

I hope you will take advantage of this opportunity to participate in this important trade show. It is a great way to see all the latest technology in the industry and to talk to businessmen about their products and services!

Sincerely,
Cheryl Dukelow
Acting Senior Commercial Counselor
US Commercial Service- Baghdad

NIC Chairman meets Egyptian Minister of Investment to discuss the latest amendment to Iraq’s investment law

Dr. Sami Al-Araji, Chairman of the Iraqi National Investment Commission (NIC) met Dr. Mahmud Mohi El Din, Egyptian Minister of Investment in Cairo. The two discussed the prospects of strategic cooperation between the NIC and the Egyptian Ministry of Investment. During the meeting, they talked about capacity building at their respective Commissions through the use of specialized training courses in Egypt.

Dr. Sami Al-Araji presented investment opportunities available in Iraq to an audience of businessmen, reminding them that Iraq is “Open for Business”. Dr. Sami also met separately with Egyptian business leaders in the public and private sectors, presenting a detailed explanation of the Iraqi investment laws, the amendments that were recently adopted, and how the amendments represent a concession to Arab, foreign, and Iraqi investors alike. Special emphasis was placed on the industrial and housing sectors due to the growing need for low-cost residential communities in Iraq.

In return, Egyptian Minister, Dr. Mahmud, expressed his country’s desire to actively participate in the reconstruction work in Iraq and reinstate agreements that had remained unfulfilled between the two countries. Both will work toward joint innovation and the promotion of investment and the improvement of one-stop shop operations (an essential part in the investment process in any country). Dr. Mahmud also commented that the amendment to the Iraqi investment law, which includes provisions for land ownership by foreign investors building housing projects, is a great opportunity for Egyptian companies specializing in that sector.
The bilateral meetings yielded 16 agreements and memoranda of understanding as well as 7 agreements ready to be finalized.

Upcoming Investment Conferences in 2009

The NIC will be participating in a number of investment conferences including:
Berlin, German (November 6-9th)
Paris, France (November 16-18th)
Poland (November 20th)
Japanese conference in Baghdad
Details on these conferences will be provided shortly.

Successful U.S. Iraqi Investment Conference in Washington DC Oct 20-21

Iraq’s National Investment Commission, led by Chairman Dr. Sami Al-Araji, has just concluded an extremely successful business conference at the Hyatt Regency hotel in Washington D.C. In addition to Dr. al-Araji, Iraq was represented by Prime Minister Nouri Al-Maliki, the Ministers of Oil, Trade, Finance, and Agriculture, Governors of Iraq’s provinces, and a contingent of prominent business leaders. Secretary of State Hillary Clinton represented the interests of the U.S. Government.

Approximately 1,100 investors attended the sold-out conference from across the U.S. and around the world. The conference consisted of a series of presentations highlighting the readiness of Iraq for international investment, several breakout sessions that delved more deeply into 12 main sectors of Iraq’s economy, and a series of afternoon matchmaking sessions that were structured for direct business to business meetings between Iraqi and American businesses.

The National Investment Commission presented the conference attendees with a list of over 750 projects ready for investment, across all sectors of the economy. In his speech, Chairman Al-Araji highlighted several recent positive steps that Iraq has taken to improve its investment climate, including passing an amendment to its current Investment Law allowing foreign investors pursuing housing-related infrastructure projects to own land. He also highlighted the NIC’s investor licensing and coordination department, known as the One Stop Shop. Dr. Al-Araji remarked:
“Why invest in Iraq? There has never been a better time to invest in Iraq. Iraq has emerged from the conflicts of the past with tremendous potential for investment from local, regional and global companies.”

Secretary Clinton was equally forceful in encouraging investors to seize the opportunity in Iraq with all possible speed, as she remarked,

“The security situation has improved. The conditions for investment are stronger. And in the words of an Arab proverb, ‘Dawn does not come twice to awaken a man’ or a woman. The world is watching for every opportunity to invest in Iraq, and companies that wait too long may discover they are too late.”