During his Visit to Najaf and Karbala Provinces

NIC Chairman Examines a number of Investment Projects

 

NIC Chairman, Dr. Sami Al- Araji visited Najaf province on Friday, 05.07.2019 to explore the latest rates of achievement in investment projects.

He reviewed the achievement rates in a number of the investment projects in various fields and stood upon the reasons behind the delay in completing some of them and he also discussed with the in charge officials there the hardest challenges that hinders the investment process in the province especially those connected with the religious tourism investments.

Al- Araji visited a number of the investment projects in sectors of industry, tourism, commercial ahead of which al- Ameerat Housing compound designed to contain 1500 housing unit divided in to three blocks (A, B and C), 600 of which were already handed over to the beneficiaries and the remaining are under construction.

On the other hand, NIC Chairman also visited Karbala International Airport project site supervised by the Administration of the Holly Husseini threshold on Saturday, 06.07.2019

During his tour, he met with the project manager, Eng. Haider Rabeea, the representatives of the Holy Husseini Threshold, the executing company and the consultative office.

 

 

 

Announcement

Investment opportunity in Roads and Bridges Sector

Design, implement, operate and manage of rehabilitation project to the road connecting entrance No. (5) of Bismayah City with Muhammad Al Qasim Highway

 

The National Investment Commission and the Ministry of Construction, Municipalities and Public Works / Roads and Bridges Department are pleased to announce an investment opportunity to design, rehabilitation, operation and management of the road connecting entrance No. 5 of Basmaya residential City with Mohammed Al Qasim Highway.We invite Iraqi, Arab and foreign companies with experience and specialization in investment to participate and submit their offers for this project in accordance with the Investment Law No. (13) for 2006 (amended). Interested companies in the project (Rehabilitation and widening the (Kut – Baghdad) road connecting entrance No. (5) in Basmaya residential City and the intersection of Mohammed Al Qasim Highway from the Army Canal Street inside the city of Baghdad with 20 km length . The project consists of two parts, the first is outside the borders of Baghdad and the second is within the borders of Baghdad).Terms and Conditions are attached to the advertisement in our website

www.investpromo.gov.iq

www.moch.gov.iq

Bids may be sent to the National Investment Commission by an authorized person provided with a letter of authorization signed by the CEO no later than eleven o’clock on the closing day (Monday, 12/8/2019) , if it happens to be a holiday it shall be postponed to the next working day. No bid shall be submitted after the closing date.

 

Arab and foreign companies that do not have a branch in Iraq can send their offers through the international express mail and deliver it before the closing date. In case of the closing date is an official holiday, the following official working day will be the closing date.NIC and the Ministry are fully prepared to provide possible facilities to visit the project site and both are pleased to respond to queries received through the e-mail addresses oss@investpromo.gov.iq andinvestment@moch.gov.iqFor more information, please visit the below websites www.investpromo.gov.iq www.moch.gov.iq Rules and regulations for advertising investment projects, including the following:

Regarding the technical part, the following information must be attached to the offer:

• Documents and data about the biding company with its professional biography and for other supporting companies and their nationalities.
• A list of similar previous works carried out by the company in the field of investment or other works.
• Determine the implementation period with a schedule that includes the business
• implementation program for all project items.
• Description of the tariff systems, mechanisms and management methods.
• Determining the proposed duration of project implementation.

 

An integrated technical and economic feasibility study for the project:

The technical aspect of the study includes but is not limited to the following:

• Project description
• Engineering design limits
• Geotechnical and hydrological study.
• Detailed traffic study.
• A study of the pavement layers of different sections of the road.

The economic study includes, but is not limited to the following:

Analysis of financial information to determine indicators of success or failure of the project and represent the cash flow table (capital assets – operational costs – project years (service age) with time change accounts and the expected interest rate on funds.The financial indicators of the project will be measured by the following criteria:

• Simple rate of revenue

Breakeven

• Recovery period of the invested capital
• Guaranteed methods of the cash flow
• Net current value of the estimated flows over the life of the project
• Net current value rate to the current investment rate
• Internal revenue rate
• Sensitivity factor for the financial analysis inputs
• financial analysis as in paragraph 1 “annex”
• Investment period
• Tariff
• The governmental share
• Insuring investment funds

With regard to the company’s obligations and documents, the following information must be provided:·          The company’s registration certificate (colored copy) certified by the concerned authorities for the national companies valid for the current year. The Arab and foreign companies shall be authenticated by the Iraqi Embassy in the country of incorporation and the Ministry of Foreign Affairs valid for the current year.·         The financial status of the company and its financial efficiency supported by a solid bank.·         The winning company shall pay the cost of the publication and the last announcement.

 

The data and information for the project are as follows:1.      Introduction to the project / importance of the project – the service provided by the product.2.      Historical background of the project / date of the idea and the beginning of its implementation – the year of listing.3.      Project data, including the project site, positioning with GPS and aerial imagery of the site.

Note: The investment project application form prepared by the National Investment Commission and the data and information contained herein are considered to be an integral part of the data referred to above.

 

 

 

 

Call for Expression of Interest for Solar Energy Independent Power Producer (IPP) Projects

 

The Ministry of Electricity is please to invite local, regional and international Independent Power Producers (IPP) to submit Expressions of interest (EOI) to embark into a proposed reverse auctioning round for SEVEN (&) Green field solar PV IPP projects (each a “project”) with a potential combined capacity of 755MWp.

A project involves the design, finance, construction operation and maintenance of a utility scale solar power project to the Ministry on a Build, Own and Operate (BOO) basis. A dedicated Special Purpose Vehicle (SPV) shall be established to undertake the construction and operation of each project. The Ministry, in its commercial capacity as a grid operator, will connect the SPV to the Iraqi transmission grid under a Transmission Connection Contract (TCC) and, in its capacity as owner of the land, will lease the land to the SPV under a Land Lease Contract (LLC). Also, the Ministry will purchase produced electricity from the SPV under the terms of the power purchase Contract (PPC).

The Ministry expects these project(s) to employ around 1300 people in the Republic of Iraq and supply more than 250,000 households with critically needed electricity supply.

 

The following projects are available :

• Sawa-1 Solar PV IPP with a capacity of 30 MWp to be located in Muthana Province,
• Sawa-2 Solar PV IPP with a capacity of 50 MWp to be located in Muthana Province,
• Khidhir Solar PV IPP with a capacity of 50 MWp to be located in Muthana Province,
• Iskanariya Solar PV IPP with a capacity of 225 MWp to be located in Babil Province,
• Jissan Solar PV IPP with a capacity of 50 MWp to be located in Wassit Province,
• Karbala Solar PV IPP with a capacity of 300 MWp to be located in Karbala Province,
• Al- Diwania Solar PV IPP with a capacity of 50 MWp to be located in Diwania  Province,

 

 

The above project(s) may, at the Ministry’s discretion, be tendered on a standalone basis or grouped. For the proposed tender, the Ministry will conduct a transparent, fair and competitive reverse auctioning process to select a developer or a consortium for a single or a group of project(s).

 

Parties interested in participating (the “respondent”) in the process must fulfill the following pre- requisites for short listing:

• Successful, proven and verifiable technical and financial capability and experience of no less than 10 years in developing renewable energy IPP Project(s) of no capacity less than 50 MW on an individual and not collective project basis, particularly utility scale solar PV projects.
• An average annual turnover of more than US$ 10 Million for the last three years solely from revenues obtained via renewable energy projects development and operatorship, preferable majorly from solar PV projects.
• Previously awarded projects should have been tendered according to the Public Private Partnership (PPP) model on similar auctions regionally or globally.
• The respondent must have registered and licensed official regional and international offices.
• The respondent must demonstrate previous initiative towards social responsibility and willingness to contribute to capacity building, to integrate local content, and to support the nascent renewable energy manufacturing and service sectors in the republic of Iraq.
• The respondent must have never been barred by the Government of the Republic of Iraq, or any entity controlled or regulated by them, from participating in any project or conducting work of any form in the Republic of Iraq, including the Kurdistan region of Iraq. Also this applies to any other government, or any entity controlled or regulated by any other government.

Respondents that fulfill the requirements above shall express their interest to participate in the tender process by 29 April.2019 and the finnnal time to receive the (IPP) documentation 60 days from the announced date.

The number call of is MOE- HQ5/ 2019 An package (the “package”) must be sent in electronic copy format (a single PDF file) from an official business email address to 32_contracts@moelc.gov.iq

 

The requirements set herein;

• Name of the respondent
• Name and contact details (Postal address, telephone number, and email address) for the appropriate point of contact (Point of Contact) to whom future correspondence may be sent; and
• Where the respondent is considering potential consortium partners, an indication of such intention and details of potential consortium partners (to the extent it is known).

The Ministry will not consider any proposals or packages submitted by mail, in person, or via liaison.

The following submission of the EOI, and after passing this stage this stage the respondent will bay the documentation (RFQ). The RFQ will include further information, including a description of the project(s), an outline of the tender process and eligibility criteria for pre- qualification.

The announcement shall not constitute in any way a commitment by the Ministry to proceed with the next stage, hold the proposed reverse auction, announce the tender, award any project or comply with the information provided herein. The Ministry retains the right to amend the scopes of the project(s), modify, extend, cancel or suspend the project(s), at any time for any reason without clarification or any liabilities for the Ministry or any other entity of the Government of the republic of Iraq.

This announcement shall be considered a complementary and integral part of the Project(s) Documentation.

 

 

Announcement

Investment opportunity in Roads and Bridges Sector

Design, implement, operate and manage of rehabilitation project to the road connecting entrance No. (5) of Bismayah City with Muhammad Al Qasim Highway

 

The National Investment Commission and the Ministry of Construction, Municipalities and Public Works / Roads and Bridges Department are pleased to announce an investment opportunity to design, rehabilitation, operation and management of the road connecting entrance No. 5 of Basmaya residential City with Mohammed Al Qasim Highway.We invite Iraqi, Arab and foreign companies with experience and specialization in investment to participate and submit their offers for this project in accordance with the Investment Law No. (13) for 2006 (amended). Interested companies in the project (Rehabilitation and widening the (Kut – Baghdad) road connecting entrance No. (5) in Basmaya residential City and the intersection of Mohammed Al Qasim Highway from the Army Canal Street inside the city of Baghdad with 20 km length . The project consists of two parts, the first is outside the borders of Baghdad and the second is within the borders of Baghdad).Terms and Conditions are attached to the advertisement in our website

www.investpromo.gov.iq

www.moch.gov.iq

Bids may be sent to the National Investment Commission by an authorized person provided with a letter of authorization signed by the CEO no later than eleven o’clock on the closing day (Sunday, 26/5/2019). No bid shall be submitted after the closing date, provided that the offer period shall be 30 days from the date of announcing this advertisement.

 

Arab and foreign companies that do not have a branch in Iraq can send their offers through the international express mail and deliver it before the closing date. In case of the closing date is an official holiday, the following official working day will be the closing date.NIC and the Ministry are fully prepared to provide possible facilities to visit the project site and both are pleased to respond to queries received through the e-mail addresses oss@investpromo.gov.iq andinvestment@moch.gov.iqFor more information, please visit the below websites www.investpromo.gov.iq www.moch.gov.iq Rules and regulations for advertising investment projects, including the following:

Regarding the technical part, the following information must be attached to the offer:

• Documents and data about the biding company with its professional biography and for other supporting companies and their nationalities.
• A list of similar previous works carried out by the company in the field of investment or other works.
• Determine the implementation period with a schedule that includes the business
• implementation program for all project items.
• Description of the tariff systems, mechanisms and management methods.
• Determining the proposed duration of project implementation.

 

An integrated technical and economic feasibility study for the project:

The technical aspect of the study includes but is not limited to the following:

• Project description
• Engineering design limits
• Geotechnical and hydrological study.
• Detailed traffic study.
• A study of the pavement layers of different sections of the road.

The economic study includes, but is not limited to the following:

Analysis of financial information to determine indicators of success or failure of the project and represent the cash flow table (capital assets – operational costs – project years (service age) with time change accounts and the expected interest rate on funds.The financial indicators of the project will be measured by the following criteria:

• Simple rate of revenue

Breakeven

• Recovery period of the invested capital
• Guaranteed methods of the cash flow
• Net current value of the estimated flows over the life of the project
• Net current value rate to the current investment rate
• Internal revenue rate
• Sensitivity factor for the financial analysis inputs
• financial analysis as in paragraph 1 “annex”
• Investment period
• Tariff
• The governmental share
• Insuring investment funds

With regard to the company’s obligations and documents, the following information must be provided:·          The company’s registration certificate (colored copy) certified by the concerned authorities for the national companies valid for the current year. The Arab and foreign companies shall be authenticated by the Iraqi Embassy in the country of incorporation and the Ministry of Foreign Affairs valid for the current year.·         The financial status of the company and its financial efficiency supported by a solid bank.·         The winning company shall pay the cost of the publication and the last announcement.

 

The data and information for the project are as follows:1.      Introduction to the project / importance of the project – the service provided by the product.2.      Historical background of the project / date of the idea and the beginning of its implementation – the year of listing.3.      Project data, including the project site, positioning with GPS and aerial imagery of the site.

Note: The investment project application form prepared by the National Investment Commission and the data and information contained herein are considered to be an integral part of the data referred to above.

 

 

 

 

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 15 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

 

 

16.04.2019

Announcement for the first time 

Investment opportunity for the rehabilitation of the plants of the

State Company for Phosphates within all its facilities: Our company ” The State Company for Phosphates” as one of the affiliates of the Iraqi Ministry of Industry and Minerals  is pleased to invite all investors and international, Arab and Iraqi companies specialized in the field of fertilizer industry to rehabilitate our industrial plants. Offers may be accepted from any other companies, financial or commercial institutions, investors or capital owners with accompanying documents and cooperation, authorization, agency or participation of companies specialized in the establishment and operation of fertilizer plants  on that:1.     A minimum period of (2) years has passed since its establishment.2.     Submit its documents of incorporation certificate and financial statements (in English for non-Arab companies) for the last two years and approved by the office of a chartered accountant or international auditing company. All documents must be authenticated by the Embassy of the Republic of Iraq in the country of the company.3.     Presenting publications or leaflets on their similar work.4.     Submit a letter of support from the banks of the honest support financial efficiency or dealings with the disclosure of support for money and deposits for the last fiscal year certified for Iraqi companies inside Iraq or the Embassy of the Republic of Iraq in the country of non-Iraqi companies.5.     Offering company  must show its technical capabilities and plans to qualify and develop existing products or enter new products.6.     Provide a list of machines or production lines, number and tools and readiness for technology transfer and training with the details of the amounts allocated for each paragraph, with emphasis on the new equipment and production lines brought in from a reliable and trustworthy origin.7.     The contract is subjected to the Iraqi laws The jurisdiction of the Iraqi judiciary in the resolution of disputes and problems that may arise after signing the contracts and legal legislation to resolve the dispute, if any.8.     Provide a letter of guarantee in the amount of (100000000 $) a hundred million dollars to ensure the implementation of general obligations and the amount of the letter of guarantee shall be reduced by 50% of the value of each batch of machines or equipment that is processed to the company in accordance with the agreed contract up to the amount equivalent to the salaries of  the company employees for three months and is agreed to be operated by the second party.9.     A registered branch must be opened in Iraq at the time of the contract and duly registered with the Registrar of Companies within a period of (3) months from the date of signing the contract or a branch of the international companies specialized in the field of fertilizer industry or establishing an Iraqi company according to Iraqi laws. This is a contract extension.10.      The companies, financial institutions and other non-industrial entities referred to above shall be covered by the submission of paragraphs (4,3,2,1) in addition to the manufacturer’s documents in (6,5,3,2,1) above.Those wishing to participate in this opportunity should obtain a copy of the integrated investment file from the office of the company located in Baghdad – Yarmouk – Locality 608 – Street / 15 / House no. / 9,  for a non-refundable amount of (500,000) five hundred thousand Iraqi dinars .Offers shall not be open until 30 days have elapsed from the date of publication of the advertisement. In the event of one or more offers during the above period, the advertisement shall be stopped for the purpose of studying and analyzing the offer or offers submitted for the recommendation. If no recommendation is reached, Up to (30) days and the same mechanism approved in the above and continue for a period not exceeding one calendar year from the date of the first publication.§  Our company undertakes to provide all the technical information, details and facilities necessary for the facilities and facilities of the company as well as ensure field visits to the company’s site in Anbar province – Qaim district – and  Akashat Phosphate Mines location.§  Offers must be submitted in accordance with the conditions mentioned above and the investment file must be in three parcels (technical offer package + commercial offer package) + package for the required documents, including the purchase of a copy of the investment file.§  Bids shall be deposited in the tender box at the company’s office in Baghdad. In case of coincidence, the closing day an official holiday .Tender box will be closed on the first day following the official working days.§  The advertisement will be effective as of Monday, 1/4/2019.§  To answer the inquiries about the investment opportunity and for further inquiry please visit the company’s website and contact details below:o   Website address: www.phosphate.industry.gov.iqo   Email phosphate .alqaim@gmal.como   General Manager: 009647902179677o   Rehabilitation Manager: 009647809840148o   Commercial Manager: 009647823495043 Note: Offers must be submitted in accordance with the conditions stated in the investment file (commercial – legal – financial) and the winning company shall bear all the fees of publication and advertising.

 

 

 

 

 

 

         Fizaa Z. Khalaf

                                                                                                

  Acting  Director General

 

 

 

In support for the Tourism Sector in Iraq

Baghdad hosts a workshop regarding Hotels Business

NIC hosted on Thursday Mar.14^th. 19 the last day of the workshop specialized for supporting the investment process in Iraq which had lasted for four days, and was prepared in cooperation with the US Department of Commerce and the US Embassy in Baghdad.

The last day of the workshop was dedicated for the tourism sector in general and hotels business in particular with the attendance of the DGs of the five star hotels in Baghdad and other provinces.

Dr. Sami Al- Araji assured, through his speech during the works of the workshop, the big importance of the tourism sector for the GDP of any country and especially in Iraq which owns a big tourism characteristics represented by religious shrines and archeological sites, not to mention the hospitable nature of the Iraqi people, referring that the most important anchor for the Tourism sector in Iraq is hotels which can reflect a positive side of the country.

On the other hand, Dr. Al- Araji showed the importance of what had been discussed of issues that support the ongoing investment process in Iraq during this workshop conveying his gratitude and appreciation for the role played by the US departments of Commerce and State and the US Embassy in Baghdad for making this workshop a success to support the Iraqi Economy.

Discussions were conducted to agree on the ways that can leverage the hotels reality situation in Iraq and raise its position in the international index through providing services that are internationally accredited with the importance of adopting the scientific approaches to find solutions for all obstacles hindering the development of this important sector in Iraq especially what relates to the administrational side.

The meeting was attended by a number of hotels managers from Baghdad and a number of provinces.

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.