During a meeting with the US Department of Commerce and Heads of PICs’

NIC Chairman… Iraqi Provinces are Fertile land for Investment

NIC ended the third day of the workshop of supporting the Investment process in Iraq that was held at the NIC premises in cooperation with the US Embassy in Baghdad.

The second and third days of the workshop were dedicated for discussing the activation of investment in Iraqi provinces with the attendance of the heads of the provincial investment commissions.

Dr. Al- Araji assured through his opening speech that the Iraqi provinces are fertile lands for investment and owns natural and human resources that enable them of making any investment project succeed, referring to the importance of holding such workshops which aim at supporting the investment process in Iraq and discussing creative ideas that can minimize time to develop investment in the country.

NIC Chairman added that “if capitals are looking for secure environment, then Iraq and after the big victories achieved has become a real secure area and ready to receive international companies to participate in the ongoing investment process in cooperation with the Iraqi private sector that is highly supported by the NIC to participate in the reconstruction process under the umbrella of the investment law and the solid legislative environment”.

Ms. Mais Ebosy in her turn, and as a representative of the US Department of Commerce, stated that the role of the US Department of Commerce in this workshop is to enable the PICs to change their local strategies in giving the priorities to the most important economic sector in their provinces through which they can achieve success, in addition to choosing the best investors and provide them with the needed support.

Under the Slogan of “Iraq Trending towards Economic Development through Franchising”

NIC Hosts Franchise Workshop which Aims at Expanding the Activities of International Commercial Brands in Iraq   

NIC, in coordination with the US Department of Commerce and the US Embassy in Baghdad, hosts a Franchise granting workshop over four days for the Iraqi private sector to expand the activities of international commercial brands in Iraq.

 

Dr. Sami AL- Araji, NIC Chairman said in his opening speech that Iraq is in its way for opening up in services sector through providing support to the Iraqi private sector adding that obtaining the licenses of international commercial brands can provide important economic revenues represented by the opening up of the big world companies towards Iraqi Market and creating many job opportunities all over Iraqi provinces.

Dr. Sami assured that NIC, which represents the umbrella for the Iraqi private sector, is determined to organize the required efforts in this field in coordination with the PICs after laying the necessary legal frameworks in a way that grants adding added value for the Iraqi Economy giving his directives to facilitate the visas for brands owners until obtaining the legal approvals to name the whole project as an investment project rather than being named as a commercial one.

The US Counsel in his turn said in his speech that the US Franchisers are looking to Iraq as a unique key market and are willing to reinforce its being an active franchise market in a way that contribute to local job opportunities growth and improving the supply chain which leads to more investments in the end.

Ms. Mays al- Ebosy, the coordinator of the US Department of Commerce and the and the supervisor of the session, invited the attendees to open discussions to listen to the obstacles that face the Iraqi private sector in this file, referring that the second and third days of this workshop will be dedicated for PICs and promoting investment in provinces, while the fourth day will be focusing on polarizing hotel investments to Iraq.

The first day session included in all the opportunities of entering the Iraqi market, the franchise current market, the challenges that might hinder this market and what can be undertaken to provide support this important commercial sector.

With the attendance of the Iraqi and Lebanese Ministers of Telecommunications

NIC and IFC hosts a high level Lebanese Delegation

 

A series of elaborated meetings have started in Baghdad on Sunday 10.03.19 that included the representatives of the elite of the biggest Lebanese companies in various economic fields. the companies representatives arrived to Baghdad within the official delegation that had accompanied the Lebanese Minister of Telecommunications- Dr. Muhamed Shuqair who participated in the event that was attended by the Iraqi Minister of telecommunications- Dr. Naeem Al- Rubaiee, NIC

Chairman- Dr. Sami Al- Araji, Dr. Chairman of the Damaged Areas Reconstruction Fund -Mustafa Al- Heti, and the Head of the IFC office in Iraq- Mr. Ziad Badr.   

Dr. Sami Al- Araji said in his opening speech that the coming five year and ten year economic plans include in their most prominent sides transforming the substantial sectors in Iraq in to productive ones that achieve profits for the state through an investment map previously drawn for this purpose with restructuring Iraqi private sector capable of holding itself by focusing on small and medium size projects in all sectors.  

In addition to the availability of strict and strong financial and monetary administration that depends on the convert of important state financial institutions from the paperwork trading into the electronic system in cooperation with different international institutions in a way that grants minimizing administrational corruption risks and achieving important financial revenues to the State.

Dr. Sami also noted that opening more than 20 border outlets in Iraq can contribute a lot to the economic opening up required and it provides the opportunities for more disciplined borders.  

NIC Chairman also assured that there are important economic achievements that shall inevitably be clear within the (100) day period specified by the Iraqi Government that is subject to direct and detailed follow up by H. E. prime Minster till reaching the desired goals to leverage the Iraqi economy.

The Lebanese Companies were invited to take their role in the Iraqi Market in a way that is consistent with the historical and social relations between the two countries.

Dr. Naeem Al- Rubaiee, Minister of Telecommunications reviewed the most important investment opportunities available in his ministry and investment types and modes that are ready for companies to enter through in the various specializations.

The Minister added that the Ministry has infrastructure projects in addition to the opportunities of establishing the transit companies, mail charging between provinces,

electronic gates projects and others clarifying the possibility of cooperating with the Ministry either directly or through specialized companies in the fields of IT and mailing companies in different investment forms between the public and private sectors .

Dr. Mustafa Al- Heti, Chairman of the Damaged Areas Reconstruction Fund clarified that the Fund is working through the Financial resources provided by the federal budget and loans and grants to reconstruct and rehabilitate the areas damaged by terror acts hoping that the coming 10 days may witness the announcement of more than 440 investment projects in different sectors within the campaign of reconstructing these areas.

Mr. Ziad Badr, Head of IFC office in Iraq stressed the strategy of his institution which complies with the WB strategy that supports the non- oil sector in Iraq through eliminating the obstacles that face the local and foreign private sectors and optimizing the investment environment through agreements made with entities like NIC with concentrating on the development and reconstruction sectors targeting the Iraqi investor inside and outside Iraq.

The Lebanese Ambassador, Mr. Ali Al- Hahab who had attended the event announced his country intention to open the office of the Chamber of Trade and Industry to foster the Iraqi- Lebanese relations and to provide the Lebanese companies with the required information.  

Investment opportunity/ Al- Nasiriyah International Airport 

Due to the historical heritage Thi Qar province enjoys, which goes to thousands of years back and admired by many countries around the world, the need for building the Nasriya International Airport is of great importance in order to open Nasriya to the world.

The NIC announces with coordination with the Civil Aviation Authority the investment opportunity to build Nasriya International Airport according to investment law number 13 for 2006 (amended), and the general, international, technical, and operational requirements to establish civil airports stipulated in the International Civil Aviation Organization (ICAO).

The airport is located to the south – west of Imam Ali (PBUH) air force base in Thi Qar province as shown in chart (1). Area of the Passengers terminal structure is 3000m² as shown in chart (2).

Interested foreign and local companies can apply by filling the investment licenses available on our website and submit all required documents to our email address info@investpromo.gov.iq within 45 days from the date of announcing this advertisement.

For more information, please contact the Civil Aviation Authority head quarter

Baghdad International Airport/ third floor

info@icaa.gov.iq

P.O Box: 23006 BIAP

 

 

27.02.2019

At a cost of more than $ 8 billion

The National Investment Commission and investment commissions in some provinces grant (257) investment licenses during 2018

The National Investment Commission and investment commissions in the provinces granted (257) investment licenses during 2018 at an estimated cost of more than (8) billion dollars distributed to various economic sectors.An official source in the National Investment Commission said that these investment licenses were distributed by (88) licenses granted by the National Investment Commission (NIC) and a number of investment commissions in some provinces supervised by NIC according to Regulation No. (2) for 2009, amended, Diyala, Babylon, Holly Najaf, Dewaniya, Thi Qar, Maysan and Basra. Four of these licenses were issued for strategic projects at a cost of more than 3 billion dollars. He added that the 88 investment licenses were distributed over 12 sectors economic as follows:-         Trade sector, 21 investment licenses-         Entertainment sector, 1 investment licenses-         Telecommunication sector, 1 investment licenses-         Education sector, 6 investment licenses-         Services sector 4 investment licenses-         Sport sector, 4 investment licenses-         Agriculture sector, 3 investment licenses-         Housing sector, 8 investment licenses-         Tourism sector, 4 investment licenses-         Health sector, 6 investment licenses-         Industrial sector, 16 investment licenses-         Electricity sector, 14 investment licenses (2 for power stations, 12 for charging).  The source pointed out that the number of licenses granted by the investment commissions in the provinces other than the provinces of Kurdistan Region was (169) investment licenses. –         12 investment licenses for Anbar-         66 investment licenses for Baghdad-         10 investment licenses for Holly Karbala-         26 investment licenses for Wasit-         32 investment licenses for Muthana-         15 investment licenses for Kirkuk Stressing that all applications submitted by investors are being examined in accordance with the provisions of the Investment Law No. (13) for 2006 and its amendments, as well as contacting investors to complete the documents and requirements stipulated by the Investment Law and related regulations in coordination with the One Stop Shop, economic, legal and technical departments in the NIC and related ministries (Especially the landowners) and not affiliated bodies and governorates.

 

Chairman of the National Investment Commission and Governor of Maysan .. Laying the foundation stone for the construction of 3812 housing units in the province

 

The Chairman of the National Investment Commission (NIC), Dr. Sami Al-Araji said in his    speech of the opening ceremony of laying the foundation stone for the national housing project in Maysan province to build (3812) housing units with full services and infrastructure by China’s Ever Bryant and the Lebanese Dar Al-Nahas Group for contracting on Wednesday 30/1/2018. This project went through a series of technical and legal negotiations that lasted for more than two years ended in this success of laying the foundation stone to be the first project of the national housing project in the province, indicating that this project will be a pattern to be followed in all provinces of the country due to its technical and administrative specifications. NIC Chairman praised the role of Mr. Ali Douai, Maysan’s Governor, who participated in the ceremony to lay the foundation stone in discussions and negotiations with the executive agency and government institutions to launch this project, which will contribute to cover a part of the housing crisis in the province, adding that this project is part of Maysan’s province share, (25) thousand housing units, of building a million housing units project in all of Iraq adopted by NIC. The project will not stop at this number of housing units as it will can be increased as agreed with the project executing company, a company with extensive experience in housing projects.

 

MR. Ali Douai, Maysan’s Governor, praised the support provided by the National Investment Commission to enhance the investment process in the province and overcome the obstacles that stand in the way of implementing the strategic projects that serve its people. He pointed out that the governorate puts housing projects at the top of its priorities within its development plan due to its importance to the life of its citizens. The national housing project will solve a great deal of the province need estimated of (60) thousand housing units.

The governor announced his agreement with the executing company to hire 80% of the total workers from the locals in the project that will last for three years. An office is allocated in the governorate building will be in charge of the hiring process provided that all applicants are Maysanis aiming at solving the unemployment issue by investing in young people. He also revealed the existence of five inactive housing projects belonging to the Ministry of Construction in Maysan due to financial allocations, calling for conversion to investment opportunities to resume work.

On the other hand, Mr. Li, the director of the China’s Ever Bryant, executing the project expressed his happiness to work in Iraq and the keenness of his company to complete the work at the specified time. He also mentioned how prepared they are to increase the housing units as defined by the Iraqi side and is agreed upon, specifying the end of next February as the time to start the actual work on the ground.

 

Mr. Saeb Nahas, Director of the Dar Al-Nahas Group of Lebanese Contracting and Holding Company, expressed his thanks and appreciation to all those who contributed to the launch of this project, in particular the National Investment Commission and Maysan Province for their efforts to overcome obstacles and provide facilities that attract capital to participate in the ongoing investment process in Iraq, indicating that this project will be implemented in accordance with international standards of housing.

This ceremony was attended by a number of Maysan House of Representatives members, officials in the local government and a number of tribal sheikhs, where this project will be implemented to build (3812) housing units with full services and infrastructures on a land area (600) dunums, cost of (250) million dollars and the completion period (3) years, in horizontal pattern (independent residential units) areas options are (200 m², 300 m²).

Interested buyers shall pay two down payments (30%) of the total price, 15% for each one. Installments for (15) years shall be paid to the banks on monthly bases. This sale type is applied for the first time in the province.

Investment opportunity

Due to the continuous need for more residential units for governmental employees and the state efforts to solve the housing issue,

The National Investment Commission (NIC) is pleased to announce an investment opportunity to establish a residential complex on the National Security Collage location (formerly), Al Jihad Q. plots no. (2/1190, 3/3574, 3/2552, 3/2557, 3/13384 district 18 Amriya) according to Investment Law no. 13 for 2006 (amended).

Specialized local and foreign interested companies can apply by filling the investment license form in NIC website with all required documents and sent it to info@investpromo.gov.iq within 30 days from the date of announcing this advertisement .

31/1/2019