Under the patronage H.E. Prime Minister, Mr. Nuri Kamal al-Maliki

NIC Holds the Iraqi – Canadian Business and Investment Forum

 

NIC Held in Baghdad on Wednesday, 02.12.2014 the Iraqi – Canadian Business and Investment Forum under the patronage of H. E. Prime Minister, Mr. Nuri Kamal al-Maliki and the presence of the Canadian Minister of State (Foreign Affairs and Consular) and H. E. Deputy Prime Minister – Chairman of Economic Committee Dr. Rose Nuri Shaways.

The Forum started with a speech by H.E. Deputy Prime Minister in which he emphasized the government’s serious efforts to restructure the Iraqi economy and to diversify its resources and turn it into a productive diversified economy through activating other economic fields such as mining, agriculture, communications, and tourism pointing out that the survival of Iraq away from the repercussions of the recent global financial and economic crisis constitute a point of strength and an important additional guarantee for companies and investors.

“>Inviting Canadian companies to contribute in the various fields of infrastructure as  electricity, energy, transportation and housing projects and in the production services in industry, mining, agriculture, financial services, banking and other in the way that contribute to economic and human comprehensive and sustainable development.

“> Dr. Sami Raouf al-Araji, NIC Chairman opened the Forum with a speech in which he welcomed the state of Canada’s government and people, expressing his pride in the presence of such a large number of Canadian companies in Iraq at this time and that began expanded bilateral meetings with their counterparts at both official and commercial sides.

“>He reviewed in his speech a number of economic sectors that are the focus and attention of both sides as; energy (oil, gas and electricity), transport and communications infrastructure, health, education, agriculture and engineering industries, financial services, banking and insurance.

“>He pointed out that extensive discussions had been done for the establishment of the Iraqi – Canadian joint business Council to serve as a link between the two countries, in addition to the common interest of signing an agreement to promote and protect investment in the two countries.

For her part, Secretary of State for Foreign Affairs of Canada, Ms. Lynn Yelich, who heads the delegation to visit Iraq said that this mission represents the first Canadian one to visit Iraq since (25 years) and Basra had been the first station, where they discussed a lot of the prospects of joint cooperation between the two countries. Referring to her country’s readiness to help Iraq build its bright future and commitment to remove all obstacles that stand in the way of cooperation, and reviewed during her speech at the forum technical capabilities of the Canadian companies in various sectors, which owns business relations of  more than 40 billion dollars in the year 2013 only and  also made (23) trade initiative in more than 60 countries with its ambitious plans for expansion of trade, especially that Iraq is one of the biggest points of attraction for the Canadian government and the holding of such a conference would contribute to strengthening bilateral relations and to find the necessary opportunities in different sectors “>of the economy.

The conference was ended with detailed presentations by Mr. Adel Hamid, Undersecretary of the Ministry of Electricity and Dr. Ahsan Attar, expert in the Ministry of Oil of the most important investment opportunities in the Energy sector.

In Cooperation with the (OECD) Organization

NIC holds a workshop to encourage economic development in Iraq

NIC held a workshop on Sunday (2-2-2014) in cooperation with the Investment program in the Middle East and North Africa (OECD) to discuss the policy aiming at encouraging economic development in Iraq, with the attendance of the investment and economy committee in the Iraqi Parliament, Mr. Abdul Aziz Shwan, as a representative of Deputy Prime Minister, Dr. Roze Nuri Shaways, and the Chairman of the Advisors Commission in the Council of Ministers , Mr. Thamer Al Ghadhban, with many officials in NIC and ministries .

NIC Chairman, in his opening speech, welcomed the attendees indicating that the workshop is to discuss and evaluate the economic cooperation experience between Iraq and the (OECD) in general and between the (OECD) and NIC in particular.

The workshop summed up in three major  axes , the first one represented how to choose the investment regions and how to fetch the investments into these regions starting from the legislative side until reaching the general investment profile to help investors to choose the suitable region in Iraq ,  the second axis represented investment attracting  process related to infrastructure projects with its different kinds, while the third axis dealt  with founding legal environment to create  a partnership between the foreign and local private sectors, from one side, and the Iraqi state sector in the other side in infrastructure projects   .

NIC Chairman referred to the future relations of cooperation between NIC and (OECD) and the procedures of implementing the common goals to achieve the comprehensive development in Iraq. He also thanked the U.S. Department of State and U.S Embassy in Baghdad for their help in financing the work program with (OECD), and he welcomed Sweden readiness to finance these projects in future.

Mohammed Salman  al Saadi, chairman of investment and economy committee  in Iraq Parliament , praised  the role that was played  by NIC to find the ways to encourage economic development in Iraq, referring that the Parliament is currently working to legislate and amend the laws related to develop the economic environment with all its multiple aspects such as financial, commercial and industrial, in addition to founding legislative climate to attract investors for the purpose of enhancing and accelerating the economic wheel in Iraq.

In his turn, Mr. Abdul Aziz Shwan in his speech on behalf of Dr. Roze Nuri Shaways said that holding such workshops contributes to extensively discuss the most important steps that should be taken to achieve economic reform , referring that the work of (OECD) comes from the  international experts conviction that Iraq can achieve economic development goals that was stressed by national development plan in Iraq from(2013-2017) and what was announced recently about achieving a rate of GDP growth of (9%) assured that .

Mr. Thamer Al Ghadhban said that the government works with International organization of UN, USA and EU to reform the Iraqi economy through reforming the general sector companies and developing the private sector, clarifying that such cooperation produced projects and Drafts of Laws and formed specialized committees to achieve such reforms and overcome obstacles .

At the same time, Miss Robin Mateuman, the economic adviser in US Embassy in Baghdad, thanked NIC for its great role to develop economic relations between the two countries on bases of common interests, adding that the workshop comes in a series of workshops and seminars that are held by US   Embassy to support the Iraq economy.

From his part Mr. Anderson Yanson, (OECD) program coordinator in Iraq, expressed his gratitude and appreciation to the cooperation between the (OECD) and NIC stressing the (OECD) readiness to continue cooperating with Iraq in the various fields to develop economic process in the country.

It should be noted that the workshop continues for two consecutive days included a number of researches to develop administrative and legal work, it also witnessed the discussion of suitable areas for investment zones and the ways of their construction according to Investment Law no 13 for the year of 2006 and its amendments, this was done in partnership with different ministries (Industry, Planning, Construction and housing, and Finance).

 

 

 

 

During the Periodical Meeting with the PICs Chairmen

NIC Chairman Stresses the Necessity of eliminating all obstacles facing Investors’ work   

 

 

NIC Chairman, during heading the periodical meeting with the provincial investment commissions’ chairmen, stressed the necessity of evaluating and following up the investment licenses granted in their provinces with specifying the achievement rates for each licensed project and taking the necessary actions with the tarried investors in addition to finding the suitable solutions for all obstacles hindering the execution of the remaining projects and submitting all facilitations and guaranties granted by investment law for investors.

Al- Araji also gave his directives to update the investment map in all provinces for the year 2014 through adding investment projects needed for each province in all economic sectors with stressing the importance of specifying the lands suitable for investment and classifying them sectorally according to the investment map requirements.

NIC Chairman stressed the importance of activating the investment process through implementing the strategic projects in each province and reinforcing cooperation between PICs and other governmental entities showing the NIC readiness to submit technical and administrational support for all provincial investment commissions in order to develop investment work in Iraq.

Dr. Sami also listened to a number of suggestions and opinions by PICs chairmen regarding the investment process in the various sectors and the obstacles facing the implementation of projects according to schedules agreed upon and he promised to find solutions for these obstacles to serve both citizens and investors.

 

In cooperation with USA Department of Commerce

NIC holds a workshop to develop franchising access into Iraq

 

NIC held, in cooperation with the Commercial Law Development Program, a workshop in NIC headquarters

Under the title of developing franchising access into Iraq as an introduction to the basic concept of obtaining franchise sign, name or an American trade system. This came with the presence of Dr. Sami al-Araji , NIC Chairman, and representatives from Trade and Foreign USA Ministries as well as about (60)businessmen from  different local economic organizations   representing  the privet sector in Iraq .

NIC Chairman, during his presiding the opening session, stressed the necessity of Iraq inform of the excellent economic global experiences benefiting from these experiences to develop the Iraqi economy. Al-Araji clarified that there are two meetings to be held between the two sides, this workshop is to be dedicated to discuss the Iraqi need to USA services as well as the administrative and legal requirements for this process, while the second meeting will be held in Baghdad during March in this year between US donor companies and privet sector in Iraq.

NIC will nominate efficient representatives from the privet sector to represent the global franchising companies according to plans.

Al- Araji invited the Iraqi businessmen to invest the opportunity to get US trademark’s franchising optimally to produce different services to Iraqi families until reaching the phase of opening restaurants , commercial centers and international hotels chains in different provinces ,he also added that NIC   nominated many  provinces to enter these  commercial  marks as a first step followed by other ones to cover all  Iraqi provinces according to the purchasing power of citizen and the logistic elements  for each  province .

In his turn, Mr. Keith Curtis, prime commercial advisors in USA Embassy in Baghdad, showed his gratitude and appreciation for the NIC to host this workshop, indicating that it came within a plan put in coordination between NIC, US. Embassy Department of Commerce and program of commercial law development , the plan includes three stages begins in identifying the potential franchise owner by the NIC then training  candidates on basic concept of franchise while the final step is a study tour that can prepare the candidates for the  negotiation process of granting  franchise rights .

The workshop in the first session  stressed on the basic elements of franchise models ( merits and demerits) , with reviewing different types of franchising agreements, while the second session was devoted to discussing how to identify  and analyze the franchising opportunities with focus on the criteria used by franchisors to identify qualified owners.

The workshop witnessed discussion of the benefits of granting franchise and its economic effect on Iraq through creating job opportunities, developing the privet sector, founding improved products and services with the possibility of attracting future foreign investments. Explanations of how to choose suitable trademarks for the nature of the country and kinds of USA franchises such as (restaurants, accounting services, automobiles selling services, pharmacies, medical clinics, hotels commercial centers, malls and so on) were also presented during the workshop.

The workshop also witnessed wide discussions between the attendees and the presenters who answered all inquiries.

Worth mentioning that there are more than a million franchise company in USA that cover 50% of the sales volume in USA market employing 2.6% from manpower in American privet sector with 4% contribution to the annual American annual GDP.

 

National Investment Commission ….  The continuation of the offer of reducing the down payment of Bismayah housing units

 

 

NIC decided to continue in its plan to reduce the down payment of Bismayah residential unites amounting (10%) from the total value until 31/12/2014 according to citizens’ desire.

The NIC Chairman Dr. Sami –al Araji said that many citizens’ requests had been received  through E-mail and telephone demanding  to  continue in  reducing  the down payment  to be (10%) after it was (25%) to enable them to reserve their  housing units in the biggest project in the Middle East, adding that the work is proceeding according to schedule prepared by  NIC and  the executing  company of the project .

Al Araji indicated that the citizens can visit the registration centre of the project on the land of Baghdad International Fair to see the residential unites models with their natural areas and to get answers for all questions every day except Friday from 9 a: m till 4p: m, referring to the many field visits to the project site organized by NIC to the registrars to see the workflow, and it is possible for anyone to visit the project after registering his name in the registration centre.

 

 

 

 

 

 

A group of the Technological University Professors and Students Visit BNCp

Within the program prepared by Hanawah Co. in coordination with the NIC to receive the students of Baghdad and the Technological Universities in order to view the latest construction technologies applied in Bismayah New City project, a group of professors and students of the Technological University visited the project’s site.

The group saw the concrete network under the ground (the tunnel) which length reaches 20 km and contains the electrical cables and telecommunication lines, and they also saw the process of tamping the steel piles in the ground allocated for the housing units, the first patch of which are to be delivered at the beginning of the year 2015.

After walking through the project, they visited the PHC Pile Plant, which is considered as the first of its kind in Iraq and the Middle East, and the pre casting plant, which is considered as the biggest in the world, with having detailed explanations about employing the modern technology in the plant and the construction site.

At the end of the trip, the group expressed their happiness to see the construction of such edifices in the country by using modern technologies that refers to Iraq’s opening up to the international development.

With in the Process of Completing BNCp Infrastructure

Opening the Biggest PHC Pile Plant in the Middle East     

NIC announced opening the PHC pile plant by Hanawah, the executing company of the project of Bismayah New City supervised by the National Investment Commission, which is one of the supporting plants for the pre casting steel plant being constructed on the project’s ground.

A source in the company assured that the plant is the first of its kind in the Middle East where piles are produced according to the latest international technologies explaining that producing piles goes through several stages starting with formulating the steel mould as a cylindrical column, where as the second stage includes filling the mould with the steel with fast rotating to obtain high durability, while in the third stage the piles are dried by special steam furnaces.

The source added that the production capacity for the plant reaches 200 piles a day, referring that the current month witnessed making the first experiment process of tamping the steel piles in the housing block number (A1) in Bismayah New City which was fully successful and attended by Hanawah staff, the resident engineer and the NIC media office.

The source also said that after a week of extensive experiments, they started tamping the soil using the produced piles in the first residential complex in the city representing the first step in launching the construction of the housing units in Bismayah New city.

Worth mentioning that Bismayah New City project includes constructing 100 thousand housing units with all related services according to latest world specifications and the project is part of an ambitious plan by the NIC to build 1 million housing units all over the country, approximately 250 thousand units of which is Baghdad’s quota.

During the OECD Conference in Paris

Iraq is Elected to Chair the Mediterranean Investment Protection Program Working Group 

investment program  in Middle East and North Africa, dependent to (OECD), held a conference in Paris on 9/12/2013 under the title (Protecting  investment in infrastructure in the  Middle East and North Africa area: Minimizing risks in the times of instability ) with the participation of the representatives of  (OECD ) member states and countries in the region , including Iraq as well as representatives of a number of important international institutions such as World Bank, European Investment Bank, EU Commission , Mediterranean  Union and so on .

The conference discussed the best means to facilitate the investment process in infrastructure projects in Mediterranean and  the Middle East by  the private sector since the (OECD) believes  that   infrastructure is a key element of the Investment environment  and a significant contributor to create jobs in addition to the growing demand for  infrastructure which is hampered by low investment by private sector in large-scale projects as a result to  international economic conditions and instability in some states in the region .

The conference focused in particular on using the partnership between public and private sectors structures, arbitration and ways of expanding utilizing of the currently available investment guarantees tools.

During the conference the official launch of Investment Protection Program Working Group was done which is part of the investment program in the Middle East and North Africa.

As, a representative of Iraq , NIC Chairman, Dr. Sami al-Araji  participated in the conference in addition to Iraq ambassador in Paris Dr. Fred Mustafa , when during the first session of the conference Iraq and France  were chosen for chairing the group .

The NIC Chairman, in his speech, expressed his deep thanks and gratitude to choose Iraq for chairing the group, the matter that indicated the organization’s appreciation to Iraq’s achievements, in rehabilitating its economy and creating encouraging investment environment that contributes to the process of rebuilding Iraq, and the OECD’s desire of strengthening Iraq’s role in the organization.

He indicated that choosing Iraq to be a head of a working group deals with investment protection sends a strong message to the investor about Iraq’s faith in investment importance to rebuild the country and its commitment to guarantee the investor’s rights.

Al- Araji also reviewed the cooperation between (OECD) and NIC which began since 2010 in important  fields as executing the investment cities projects and different   infrastructure projects, he also reviewed Iraq achievement in economic sphere during the last five years which witnessed intensive work  in spite of difficulties ,referring that Iraq had succeeded  in achieving a growth rate of 9% in 2012 and reduced the unemployment rate to 11% and the rate of poverty to be 19%, he also pointed to the big attention  Iraq Government is paying to infrastructure development, as , water and sanitation, Electricity, Health , Education , Railways , Ports , Airports , Communications and so on adding that there are  many ongoing  projects and a large part of the budget of the current five-years plan (2013-2017)  had been allocated  to  infrastructure and rehabilitating economic sectors .

He also stressed that the NIC establishment  in 2007 came as a result to Iraq’s great interest in attracting investments by setting the suitable business environment  and  it  is determined to create a legislative environment  appropriate to investment  and the investment  law was the most important step on this road describing the current investment  system with comfortable  though it was not perfect  while the Iraqi economy is still in a transitional stage from centralized economy to market economy; whereas GOI is looking forward to accomplish more .

Al-Araji also talked about the current existence of the foreign investment in Iraq and the continuous economic delegations visits to Iraq describing it as an important indicator to Iraq’s desire to attract more investors.

At the end of his speech the NIC chairman repeated his thanks and gratitude to (OECD) to select Iraq to be the head of Investment Protection Program Working Group and invited them to hold the next meeting in Baghdad.

Announcement

Ministry of telecommunication in coordination with the National Investment Commission is delighted to announce for all Iraqi and Foreign investors the opportunity to invest the lands belonging to the Ministry, which its details are specified in the below table, in accordance with the investment law No. 13 for the year 2006 as amended and its regulations.

Interested investors can submit their applications to the National Investment Commission through the email (oss@investpromo.gov.iq ), within a period of 30 days starting from the date of publishing this announcement, please take into consideration that the ground floor of the investment project is to be exclusively constructed and designed as a post office.

Online address information:

–         The National Investment Commission’s Website: www.investpromo.gov.iq

–         Ministry of Communication’s Email: office_mng@moc.gov.iq

Information Table for The Proposed Investment Opportunities

Note: Olk =100 M2

 

 

Within the Framework of the Iraqi- French Business and Investment Forum

Baghdad Hosts Major French Companies- MEDEF International Members

 

The Iraqi – French Business and Investment Forum works started in Baghdad on the 25^th of November 2013 and continued for two successive days under the patronage of H.E. Prime Minister, Mr. Nuri Kamil al- Maliki and with the attendance of Deputy Prime Minister for Energy Affairs, Dr. Hussein al- Shahrestani, a number of Iraqi Ministers, Parliament members and those involved in the economic sector in Iraq.

Dr. al- Shahrestani initiated the Forum with a speech through which he emphasized that the government had been keen during the previous years to achieve the gradual and thoughtful economic transformation in the various fields in Iraq and especially investment field which had witnessed legislating the investment law no.13 for the year 2006 that submitted required guaranties for investors and contributed to supporting and encouraging them through many incentives represented by tax exemptions, customs facilitations necessary for goods entrances and exits, facilitating capital movement and allocating lands required for the investment projects.

The government of Iraq had set a plan for an overall economic development in Iraq for the years 2013-2017 concentrating on diversifying the economic resources and constructing a solid economic foundation that covers all sectors.

In the energy sector, al- Shahrestani clarified that a plan had been set to construct new power stations, the capacity of which shall exceed 20 thousand MW. These power stations had already been introduced to service to add electrical capacity for the national grid production the matter that helped in continuous power provision; he also announced that the government had taken for the first time the decision to invite Iraqi and foreign investors to invest in the electrical power provision sector to build new power stations on the basis of (I.B.B). The government also is currently studying the possibility of privatizing the electrical distribution sector and the oil derivatives distribution sector which are considered new opportunities for local and foreign investors.

In the Oil sector, the Deputy Prime Minister referred to the large increase achieved in oil production not only on the level of Iraq but also on the world level after succeeding in finalizing the licensing round through which big famous international companies had participated in the extraction process in Oil fields.

He also referred to the opportunities available to develop the Iraqi industrial sector which focuses on petrochemical and fertilizers production, with 7 MOUs signed with big international companies in these fields, in addition to other available investment opportunities in the sectors of transport, housing and others inviting French companies to study cosiderig Iraq as a principal site for producing and marketing their products in the middle east promising to find all required support and capacities.

NIC Chairman, Dr. Sami al- Araji opened the Forum works with a welcome speech asserting the importance of attending this big number of French businessmen which reflects their confidence in Iraq’s capability to overcome all difficulties.

French Ambassador, Mr. Denys GAUER said in his speech that France is of the first countries that had resumed its relations with Iraq after 2003 and had always been committed to provide support for the reconstruction process after decades of suffering and isolation.

Mr. GAUER added that French companied were encouraged to return to the Iraqi Market with putting all state capabilities under their disposal in order to support the external trade, stating that open policy was adopted in the field of granting entry visas for Iraqis aiming at facilitating their visits to France.

The Forum works included an extensive session held in the first day of the forum under the title of “Doing Business in Iraq” chaired by Minister of Trade ad NIC Chairman and focused on available investment opportunities.

While the second day included 2 sessions, the first, chaired by Mr. Ihsan al- Attar- Deputy Minister of Oil, on the sectors of Energy, transport, infrastructures and industry, while the second session was, chaired by Mr. Ameer al- Baiaty- Deputy Minister of Telecommunications, on telecommunications, health, banking and insurance. The 2 sessions were followed by networking session between the two sides aiming at laying down visions and objectives required to create solid partnerships.