Page 10 - Microsoft Word - The Investment Law No amended.docx

in it for a period of not more than (50) Fifty years, renewability subject to the approval of the
Commission which grants the license and the relevant authority provided that the nature of the
project and its economic feasibility is taken into account. The industrial projects constructed in the
industrial cities shall be owned with charges and according to instructions.
B- The Investment Commission which issues the license can make an agreement(s) with the Iraqi
or Foreign investor to return the project to the State, the Region, or the Governorate not affiliated
with a Region after the expiry of the license period and with the terms agreed upon in the
agreement signed with the investor.
C- The investor can transfer the ownership of the investment project in whole or in part during the
period of the license to any other investor after securing the approval of the Commission which
grants the license provided that 40% of the project has been accomplished . the new investor
replaces the old one in terms of rights and obligations stipulated by the law and the agreement .
D- The Commission which grants the license can make an agreement with the Iraqi or Foreign
investor to own the investment project as land and building, or just a building, depending on
whether the project for housing or other purposes, after the end of the license period without
enjoying the privileges, facilities and guarantees stated in this law.
E- The investor may set up an industrial investment projects and private agricultural sector stores
on agricultural lands and contracts inside and outside the limits of the basic design.
F- After Agreement with the concerned commission, the Developer or the Investor may extend
services of infrastructure to the boundaries of the project according to the Agreement concluded
with.
G- It may be invested in the stalled projects in all sectors of strategic and federal nature to
rehabilitate and implement it in coordination with the relevant authorities to obtain an investment
license from the National Investment Commission exclusively.
H- It may not be possible to refer the projects completed by the government that achieve
economically feasible revenue (self-finance companies) to investment.
I-Local authorities are committed to extend infrastructure services to the boundaries of the
investment projects.
J- It may not be allowed to invest in disputed territories in the Provinces of Kirkuk and Salahuddin
until settlement is reached through the judicial authorities or by cancelling the dissolved
Revolutionary Command Council resolutions.
Fourth- A: Ministries and Departments not associated with a ministry and the municipalities in the
Province are committed to provide suitable Real Estate for establishing investment projects, and
inform the National Investment Commission with its numbers, areas, ownership, kind, and uses
through preparing a map updated annually.
B- In case the owners of the properties do not abide to implement the provisions of paragraph (A)
of this item during the period of (60) days from the date of National Investment Commission’s
request, the Council of Ministers has the right to transfer the ownership of these properties to the
National Investment Commission without revenue, and the Commission shall allocate it for
investment projects.

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