In its first meetings headed by Suha Dawood Najar

Suha Dawood Najar… investment licenses amendment committee is laying down new regulations to regulate investment process in Iraq

The special committee concerned with studying the requests of amending investment licenses coming from PICs in addition to NIC and according to the Ministers Council resolution No. 94 for the year 2022 that substituted the order No. 51 for the year 2019, had started its first meetings headed by Suha Dawood Najar, Chairwoman of the National Investment Commission and the members of the committee represented by DG of the Legal Dept. in the General Secretariat of the Ministers Council , DG of the State Property Dept. in the Ministry of finance, DG of the General Government Contracts in the Ministry of Planning, DG of the Investment and External transmissions Dept. in the Central Bank of Iraq, DG Assistant of the Ministers Council and committees Affairs Dept. in the general Secretariat of the Ministers council, and DG of the Legal department in NIC.

The Committee discussed a number of regulations and instructions regarding amending investment licenses and the laying down of certified regulations that can regulate the process and ensure the streamlined achievement of projects with limiting corruption possibilities.

The Committee also discussed the reasons of the obstacles that faced the work of the previous Committee formed according to Order No. (51)  and amended a number of regulations in a way that contribute to activating the current investment process in Iraq.

The Committee decided to hold its meetings on weekly bases to discuss the projects subject to amendment in addition to discussing listed points on the Committee’s agenda and issuing the new regulations and instructions to tackle failures and obstacles hindering the smooth achievement of projects.

 

With a remarkable production capacity.. Chairwoman of the National Investment Commission inaugurates Al-Kawthar Paper Industries Factory in Holy Karbala

With a remarkable production capacity.. Chairwoman of the National Investment Commission inaugurates Al-Kawthar Paper Industries Factory in Holy Karbala

Chairwoman of the National Investment Commission, Suha Daoud Najjar, today Sunday the 20^th Feb.2022, put the cornerstone of (Al-Kawthar)  factory for paper, cardboard and boxes, with a paper production capacity of 250 tons /day, which covers 17% of the country’s need in addition to another line for the production of cartons with a capacity of 120 tons/day, covering 15% of the country’s needs, according to the Ministry of Planning statistics.

In her speech during the opening ceremony, which was attended by the Governor of Holy Karbala, Eng. Nassif Jassem Al-Khattabi, and a number of Karbala Parliament representatives,

she expressed her optimism regarding putting this industry back on track again in Iraq and supply our hungry markets of this vital industry.

Al-Najjar expressed her hope that this vital industrial project, which is one of the environmentally friendly factories, will be one of the aiding tools to stimulate the economy in Karbala province and an important source for providing job opportunities for the community of Karbala

She added that Karbala governorate is one of the governorates that has succeeded in attracting a distinguished elite of investors and businessmen in various sectors, including the industrial one, which we seek to be a solid economic base for Iraq, which, along with other sectors, represents a springboard towards sustainable development and an end to the rentier economy in Iraq, as we have in our future plans for this safe and investment attractive governorate, many projects, especially in the tourism sector, and this reflects the serious and continuous cooperation between the PIC and officials in the local government of the governorate.

She emphasized the NIC keenness to support and encourage the establishment of vital investment projects in all governorates of Iraq and in various economic sectors.

Governor of the Holy Karbala, Engineer Nassif Jassem Al-Khattabi, said that this project comes within a series of projects implemented in the province, which aim to diversify the economic base in it through investment, as this project will have a positive impact on supporting food industry factories due to its important role in the packaging process.

Al-Khattabi expressed his thanks and appreciation to the National Investment Commission for its support in establishing investment projects, which is beneficial to the city.

NIC Chairwoman, accompanied by the governor of Karbala and a number of officials in the governorate, inspected the 100% completed first phase of the project, which represents 50% of the project’s whole completion rate.

During her tour, she also paid a visit to Karbala Al- Ghadeer housing project, during which she listened to details from the project CEO, Mr. Ibrahim Al-Tamimi. Also she visited the iron and steel plant in the province. The opening ceremony was attended by representatives of the two holy Husaini and Abbasi shrines, as well as a number of community leaders and sheikhs in the province.

 

The Chairwoman of the National Investment Commission, Suha Daoud Najjar, obtains the Council of Ministers’ approval to contract with two solid international law and auditing firms to audit previous contracts in Basmaya Residential City.

The Chairwoman of the National Investment Commission, Suha Daoud Najjar, obtains the Council of Ministers’ approval to contract with two solid international law and auditing firms to audit previous contracts in Basmaya Residential City.

The Chairwoman of the National Investment Commission, Suha Daoud Najjar, explains in details to the Council of Ministers the NIC procedures regarding Basmaya Residential City

Najjar presents to the Council of Ministers the measures taken by the NIC to combat corruption and lagging projects

The Chaiwoman of the National Investment Commission, Suha Daoud Najjar, obtained the approval of the Council of Ministers, during its session yesterday, to contract with a solid international law firm to review previous contracts regarding the Basmaya residential project and a solid international financial auditing company to propose a financial model, and to audit the project’s financial issues.

The Council of Ministers hosted the Chairwoman of the National Investment Commission, Suha Daoud Najjar, on Tuesday’s session, 1^st February  2022, and she provided a detailed explanation of the Commission’s procedures regarding the Basmaya residential city, and other issues related to investments and plans to ensure that investment in Iraq is on the right track, and in accordance with international standards. Al-Najjar also discussed measures taken by NIC to combat corruption and lagging projects.

The Council of Ministers approved recommendation issued by the Ministerial Council for Economy, as follows:

Approving the National Investment Commission’s contract with a solid international law firm to audit previous contracts regarding the Basmaya housing project to propose a new contract formula, and to clarify the legal frame of contracts. Also to contract with a solid international financial auditing firm to propose a financial model, and to audit the financial issues of the aforementioned project, according to what was stated In the letter of the National Investment Commission No. (8506) of October 6, 2021. Both contracts are excluded from the contracting methods stipulated in the instructions for implementing government contracts (2 of 2014).

 

Chairwoman of the National Investment Commission: Granting investment licenses is subject to competition and transparency and does not exclude anyone

While  meeting with the President of the Iranian Chambers of Commerce, Industry and Mines Federation and his accompanying delegation

Chairman of the National Investment Commission: Granting investment licenses is subject to competition and transparency and does not exclude anyone

Chairman of the National Investment Commission, Suha Daoud Najjar, met on Tuesday with an economic delegation from the Islamic Republic of Iran headed by Mr. Gholam Hussein Shafei, President of the Chambers of Commerce, Industry and Mines Federation.

Najjar welcomed the guest delegation at the beginning of the meeting and gave a brief explanation of NIC work and its departments and the amended Investment Law No. 13 of 2006 and its advantages and guarantees for investors, stressing that Iraq is a promising country rich in natural resources, expertise and manpower, and doors are open to all investment companies wishing to Invest in Iraq in all sectors, and take the advantage of the provisions of the Investment Law

The NIC Chairwoman explained that granting investment licenses is, legally and economically, subject to standards and measures stipulated in the investment law, without exception, and is subject to the principle of competition and transparency.

The Iranian Chambers of Commerce, Industry and Mines Federation, Ghulam Hussein Shafei, thanked and appreciated the warm reception, pointing out that Iranian companies are looking forward to entering the Iraqi market in a number of fields, especially infrastructure, roads and bridges.

Shafei extended an official invitation to the Chairwoman of NIC to visit the Islamic Republic of Iran, hold an investment conference, and form a bilateral committee between the Iranian Investment Council and the National Investment Commission; To communicate and enhance cooperation between the two countries, and solve some outstanding problems of a number of Iranian investment companies operating in Iraq.

The National Investment Commission opens a new entrance to the city of Bismayah

 

Followed-up and supervised by the Chairwoman of the National Investment Commission, Suha Daoud Najjar, the Director-General of the Public Relations and Information Department of the Commission, Mr. Haider Hamadeh, inaugurated today, Thursday, a new entrance to the city of Bismayah.

Mr. Hamada confirmed that the new entrance was implemented under the follow-up and supervision of the Chairwoman of the National Investment Commission, Suha Daoud Najjar, aiming at reducing traffic and facilitate smooth entry of residents into the complex as a first stage, leading to modern technologies to ease entry process and maintain the security situation.

During the opening ceremony, the Director General said: This entrance is one of the eight entrances to the city that NIC seeks to implement in cooperation with the authorities supporting the project, providing every necessary element to serves the city and ensure the flow of life.

He added that this entrance, 235 meters length and 50 meters width, connects the main Baghdad-Kut road to the residential city and is located between blocks (A and B). It was implemented by the South Korean company Hanwha executing the project with sidewalks on both sides of the road.

Mr. Hamada stressed that NIC, headed by Ms. Suha Najjar and her cadres, and in cooperation with other  ministries, authorities, institutions and security services, is constantly following Basmaya residential complex, and keen to provide the best for the residents, and has recently instructed to re-evaluate the service situation, following a series of measures to provide the best services to its people, stressing the importance of the cooperation of ministries, agencies and security authorities with NIC in order to provide the required services to the residents of Basmaya.

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Public Relations and Information Dept. at the National Investment Commission

30 – December – 2021

 

Suha Dawood Najar: the Withdrawal of dilatory projects licenses is part of Reevaluating investment process in Iraq

NIC Chairwoman confirmed withdrawing more than 40 Investment licenses in several provinces in various economic fields because of the delay in achieving these projects. She added that NIC is currently about collecting the remaining PICs attitudes to take the decision of withdrawing the dilatory projects licenses in their provinces.

Najar also clarified that the companies who lose licenses shall be subjects to the provision 28 from the Investment law no. 13 for the year 2006 as amended, and according to this provision the company shall receive a preliminary warning followed by a final one to eliminate the violation and in the end withdrawing the license. After the withdrawal the project shall be announced as a new investment opportunity to attract new reliable company to achieve the needed end.

 

PR and Media Department in the National Investment commission

December. 22.21

NIC Chairwoman meets the Head of Martyrs Institution  

NIC Chairwoman, Suha Dawood Najar, met on Tuesday 21^st of December.21 with the Head of the Martyrs Institution, Mr. Abdul Ilah al- Naeili, and the accompanying deputation.

She assured during the meeting the full care and help NIC is giving to the martyrs families to pay back a small part of their sacrifices to our homeland peace and safety.

Also the Head of the Martyrs Institution praised NIC role and the services they are providing to martyrs families by easing administrative procedures regarding their paper works.

Both sides discussed mutual cooperation between them.

PR and Media Department in the National Investment commission

December. 22.21

NIC Chairwoman, Suha Dawood Najar: We support all international efforts and agreements for protecting environment

NIC in coordination with the Ministry of Environment/ the National Center for OZON a workshop regarding (OZON depleting materials alternatives and their effect on global warming) on Sunday.19.12.21 at the NIC premises.

NIC Chairwoman, Suha Dawood Najar, opened the workshop works welcoming the attendees from concerned sides in provincial Investment Commissions, Ministry of Environment and University of Technology. Najar stressed during the session the importance of

informing decision makers about conditions to be taken into consideration, in running devices and industries that emit the gases which cause depleting this layer found to protect environment, in a way that comply with the international agreements seeking environment protection.

The workshop included submitting detailed lectures by Dr. Shadha Kadhum Khalaf- head of the National Center for OZON,  Dr. Ahmed Abed Muhammed- consultant in the University of Technology and the Chief Engineer – Muamer Rashad Jabar from the National Center for OZON. The workshop works presented an introductional brief of the OZON layer and highlighting the most prominent risks and side effects resulting from losing control on certain gases emissions.

The workshop also witnessed a number of questions and discussions that were answered by the concerned team.

The workshop was attended by the DG of the Administration & finance department and the DG of the One Stop Shop in NIC.

PR and Media Department

19.12.21

NIC Chairwoman: We are continuing in withdrawing investment licenses of dilatory projects

The decision of withdrawing investment licenses contributed in differentiating the serious investor from the dilatory one

 

NIC Chairwoman, Suha Dawood Najar, assured that NIC is continuing its procedures of withdrawing investment licenses of dilatory projects whose achievement rates varies between 0-35% in accordance with the directives of the Prime Minister during his visit to the NIC premises last April.

Najar clarified that NIC keeps studying these projects according to specialized committees to stand on each project details and reasons behind its delay, and this process goes in coordination between NIC and Provincial Investment Commissions.

NIC Chairwoman assured that this decision has widely contributed to differentiating serious investor from the dilatory one who misused the essential investment tools represented by tax exemptions, fees cuts, entry visas granting and other facilitations  in a way that participated in disrupting investment process in Iraq.

Worth mentioning that Nineveh Province comes at the top of the list by withdrawing 22 investment licenses in various economic fields while 8 licenses were withdrawn in Najaf province, whereas Basra province is studying withdrawing 16 licenses and other provinces are still studying the cases.

PR and Media Dept.

19.12.21

 

 

NIC Chairwoman, Suha Dawood najar, stresses NIC insistence on reviving the Marshes area

Najar: NIC seeks granting investment opportunities for reliable companies to revive the Marshes area

NIC Chairwoman, Suha Dawood Najar, stressed NIC insistence on reviving the Marshes area to be ready for receiving tourists through granting investment opportunities for reliable companies ready to achieve the meant goal.

This came during her excellency presiding a meeting with  DG of the Marshes and wet lands reviving Center that is related to the Ministry of Water Resources, Mr. Hussein Ali Hussein and the accompanying deputation.

The assemblers discussed the possibility of constructing projects in the Marshes area aiming at reviving tourism in this area whereas NIC Chairwoman required the deputation to provide NIC with the measures and restrictions requested to construct investment projects in the Marshes area that comply with the UNSCO regulations.

PR and Media Department of the National Investment Commission

16.Dec. 2021