PM M. Al-Sudani meets senior staff while visiting NIC and confirms …

• Investment is a part of the governmental priority program and the development plan.
• Investment is a vital tool to solve several issues if plans and vision are doable.
• NIC is in charge of protecting investors, improving investment environment and attracting successful investments to Iraq.
• Handling the chronic housing issue is going to be fair to both of investors and the government. We are not going to lose more of distinctive lands
• E- work shall improve NIC performance and procedures to go in line with the government plan
• Investing in provinces has to be diversified and consistent with their needs, resources, population, education and poverty indicators and far from being random.
  ================

Prime Minister, Eng. Muhammad Shia’a Al-Sudani, stressed the importance of the state and the concerned economic institutions having an accurate and detailed vision of the priorities that must be taken into account, based on the country’s circumstances and the requirements of its people for services that can be provided with the available resources and potentials in each sector.

He also indicated that this vision should not be isolated from the plan and effort of the state, but rather reinforcement to its strategy, which is supposed to be real and tangible by the citizen in all aspects of life.

He added, while chairing a meeting at the headquarters of the National Investment Commission today, Monday 13/2/2023, attended by Dr. Haider Muhammad Makiya, Chairman of NIC, Dr. Abdul Karim Al-Faisal, Chairman of the Council of Advisors, and Dr. Abdul Hussein Al-Anbaki, Economic Adviser to the Prime Minister and NIC General Directors, that our visit today shows our great support for this vital institution, which we plan to raise its perform to the level of the tasks entrusted to it in changing people’s impressions and mood and the public opinion. This will not be achieved without efforts of concerned ministries and sectoral institutions in granting the investment license.

Nor will it be achieved unless NIC works to identify serious investors and provide them with the necessary protection apart from dealers and brokers who shall not add any value to this vital issue.

Chairman of the National Investment Commission, Dr. Haider Muhammad Makiya, presented at the beginning of the meeting a detailed explanation of a number of projects that the Commission is working on maturing in preparation for launching them in various investment forms.

He touched on a number of laws and regulations concerned with investment and the possibility of benefiting from some of their paragraphs in providing services for a number of projects

The Prime Minister listened to a number of notes and proposals in support of the work from General Directors in the legal, administrative and public relations departments.

The Prime Minister directed forming a specialized supporting team to NIC linked to him in order to speed up submitting proposals and contributing to developing this vital sector by finding solutions to a number of problems.

 

In the framework of his visit to Kerbala Holy province- NIC Chairman, Dr. Haider Makiyah meets legislative in charge of the Holy husseini Shrine – Sheikh Abdul Mahdi Al- Kerbalaee

NIC Chairman, Dr. Haider Makiyah, met with the legislative in charge of the Holy Husseini Shrine, Sheikh Abdul Mahdi Al- Kerbalaee during his visit to Kerbala Holy province on Tuesday 8^th of Feb.2023.

NIC Chairman expressed his admiration in the big role the holy Shrine is undertaking through implementing several projects in Kerbala and other provinces and at the top Kerbala international Airport that has reached 60% of achievement rate and Warith Oncology international Center which is considered as a big medical landmark.

Assuring that NIC will be fully supportive for the Holy Shrine efforts and will work on facilitating all obstacles and difficulties facing the implementation of its investment projects.

Sheikh Al- Kerbalaee in his turn praised NIC supportive efforts especially in the project of Kerbala International Airport which is being implemented according to the most modern international standards made by (ADPI(   French company with a capacity reach 3 million passenger annually as a first stage .

Al- Kerbalaee also asked NIC to give more attention to industrial and agricultural investments for their positive reflections on the national economic reality and on encouraging serious investors to participate in the current investment process in Iraq in addition to their role in providing various job opportunities for the promising Iraqi youth.

NIC Chairman, Dr. Haider Makiyah, presides the tenth meeting for the committee of studying the applications of revising investment licenses coming from NIC and PICs

During the meeting, that was attended by Dr. Najeeb Shukur, DG of Legal Dept. in the General Secretariat of Ministers’ Council, the committee reviewed the most prominent problems in the projects listed in the meeting agenda.

The meeting was also attended by the committee members from (State Possessions Directorate, Tourism commission, Ministry of Planning, Ministers’ Council Affairs dept.)

The National Investment Commission (NIC) clarifies mechanisms of financial compromises followed in housing projects in Baghdad and provinces.

In the framework of supporting the state efforts to reach a stable currency exchange rate

NIC clarifies mechanisms of financial compromises followed in housing projects in Baghdad and provinces.

No secret for everyone the instability Iraqi market and economy are witnessing in all sectors because of the fluctuation in USD exchange rate and reflected confusion in implementing decisions made by the state Ministries and institutions to support the government and CBI measures to protect local currency.

And for investment companies contracting with NIC an PICs , NIC would prefer to clarify its procedures in this regard.

• Abiding by the directives of the General Secretariat of the Ministers’ Council to all investment companies specialized in constructing housing complexes, a number of investment companies have already started banking windows for their projects financial transactions in a number of banks in coordination with CBI in a mechanism that consists of requiring Iraqi customers to pay their financial dues in Iraqi Dinars that will be automatically exchanged into US dollars by the recipient bank and deposited to investment companies accounts in a way that not adding new burdens on customers. NIC could define the violating projects and in its turn had forwarded official abiding letters to the licensing PICs to urge these projects managements to abide by restrictions otherwise they will be subject for legal prosecution.
• Branches of state banks (financers of NIC licensed housing projects including Bismayah project) are fully committed to receive monthly dues from customers who contracted prior to the last devaluation of Iraqi dinar according to 1200 exchange rate, and those who contracted after devaluation shall pay according to CBI bulletin.

 

• Housing projects financed by private banks and private sector companies must be committed to adopt legal exchange rate announced by CBI according to the informative letters of the General Secretariat of Ministers’ Council and NIC.

 

NIC Chairman meets with Ms. Abeer AL- Naeb – DG of Iraqi Business Council in Jordan

NIC Chairman meets with Ms. Abeer AL- Naeb – DG of Iraqi Business Council in Jordan and her accompanying delegation, during the meeting they discussed opportunities and possibilities of reinforcing Jordanian investments  entering Iraq benefiting from incentives granted by investment law no. 13 for the year 2006 as amended.

Dr. Makiyah also listened to a detailed explanation of the most prominent problems that work against streamlined incoming investments, for the purpose of finding best solutions and supporting the Council efforts to attract investments and capitals into Iraq.

 

NIC Chairman, Dr. Haider Makiyah checks out progress in the works of Kerbala International Airport project

NIC Chairman, Dr. Haider Makiyah checks out progress in the works of Kerbala International Airport project as he was received by eng. Manhal al- Haboobi – project consultative engineer and during the visit he listened to a detailed presentation on project achievement stages when he expressed NIC full readiness to support a speedy implementation of the project for its high importance in streamlining local and international pilgrims movement the matter that will positively reflects on the province economy.

NIC Chairman Dr. Haider Makiyah listens to a detailed review on Warith Oncology International Center

NIC Chairman Dr. Haider Makiyah listened to a detailed presentation on Warith Oncology International center by its head Dr. Haider al- Abidi and went in a tour to view the modern equipments used in the center when he conveyed his pride for having such a great medical edifice.

Chairman of the National Investment Commission, Dr. Haider Makiya meets with the Secretary General of the Holy Husayni Shrine, Hajj Hassan Rashid al-Abaiji, and reviews a number of projects implemented by the shrine

Chairman … NIC is supportive to projects implemented by the Holy Husayni Shrine, we work on easing challenges and difficulties facing those projects.

Chairman … Shrine’s project are now success stories visible to Iraqis and foreign visitors.

Chairman visits a number of projects on site, etc, Al Sabtain University and Warith Oncology International Institution considered being the most important one in the Middle East.

Secretary General of the Holy Husayni Shrine.. Our projects are non-profit projects that serves Iraqis and visitors in all provinces, and not limited to Karbala.

Secretary General.. Karbala International Airport, built according to  international standards, shall soon be operated. It will contribute to smoothing the  visitors’ movement.

 

Dr. Haider Makiya, Chairman of the National Investment Commission in Holy Karbala to meet with Mr. Nsaif Jasim AL Khitabi, the Governor and a number of officials. All reviewing and following up the investment process in the Province

From Holy Karbala

Chairman of the National Investment Commission .. we are keen to continue fruitful cooperation between NIC and the local government in Karbala that reflects positively on the economic development in this important religious province.

Chairman of the National Investment Commission.. we are working according to a sustainable investment strategy based on an integrated administration, design and planning for the current and future generation.

Chairman of the National Investment Commission.. investing Al Razaza Lake shall be reactivated to establish a full served urban town for local and foreign tourists.

|Governor of Karbala …due to Karbala’s commercial and religious investment attracting location, tens of requests reached us from abroad desiring to invest in the province.

Governor of Karbala …investment projects created thousands of job opportunities to young people in Karbala which participated in improving the living standards in the province.

Governor of Karbala.. we have 22 residential blocks in different prices. In the agriculture sector, we were able to produce 2 b eggs/ annually .

In preparation to conclude investment contract with Uraifi Suadi Group

NIC Chairman Dr. Haider Muhammed Makkiyah assures..

• Completing the needed requirements to grant investment license for Jadet Baghdad project in its residential and commercial sides
• With the attendance of the concerned sides, Discussing obstacles facing the project and finding the suitable solutions

An expanded meeting has been held today Monday, 6^th of Feb. 2023 at the premises of NIC presided by Dr. Haider Makkiyah, NIC Chairman and Mr. Ammar Mousa Kadhum, Mayor of Baghdad with the representatives of Uraifi Suadi Group.

During the meeting they discussed the most important steps needed to be taken by the concerned sides to go forward with the construction and development of Jadet Baghdad project in its residential and commercial sides, the project that had already been granted a license by NIC in the year 2021.

NIC Media office added in a statement that the company had received the 600 donum land specified for the mentioned project in two separated parts in order to launch the process of leveling and contouring the site after completing the possession contract for the residential part of the project with Baghdad Mayorship (the possessor of the land)

The company was also provided with draft of the investment contract in order to study it and convey their notes before signing it in the coming period.

A detailed presentation of the most prominent obstacles facing the project implementation was presented during the meeting to discuss taking the necessary actions to solve these obstacles and facilitate procedures.