Aiming at Pushing the Cooperation Wheel forward between the Two Countries

NIC Chairman, Dr. Sami Raouf al-Araji, representing the Iraqi government signed on Thursday, 7/6/2012 the (Investment Promotion and Protection Agreement between the Government of the Republic of Iraq and the Government of Japan), while the Government of Japan was represented by its ambassador to Iraq, Mr. Susumu Hasegawa. The agreement aims to attract Japanese companies to enter the Iraqi market and economic partnerships with public and private sectors to contribute to Iraq reconstruction process.

The NIC Chairman assured during a speech given during the occasion that the agreement includes a number of items that provide protection to investment projects and provide all the facilities and the safeguards guaranteed by the legislations in both countries in the way that leads to the success of the Iraqi – Japanese investment partnerships and serves common interests.

He added that the agreement is to promote economic cooperation between Iraq and Japan, as well as contributing to the support of the mutual investment relations in the way that reinforces economic prosperity of the two peoples, referring that the month of June will also witness opening an office of the Japan Cooperation Center in the Middle East (JCCME) in Baghdad in order to activate the terms of the Memorandum of Understanding signed by the NIC with the center.

For his part, the Japanese ambassador in Iraq, Mr. Susumu Hasegawa said that this agreement will encourage corporations and Japanese labor to enter the Iraqi market, and will lead to the creation of an attractive environment for Japan capitals to invest in Iraq, adding that Japan give Iraq particular importance and is firmly committed to support reconstruction and development , where the two governments signed during the month of May of this year to grant new loans worth $ 750 million for the implementation of four different projects in Iraq.

The signing ceremony was attended by Iraqi Ambassador Mohammad Sabir Ismail, Head of Asia, Australizia and New Zealand in the Ministry of Foreign Affairs, as well as a number of officials in the NIC and the Japanese Embassy.

Aiming at Receiving Registrars and those Willing to Register

National Investment Commission Opens a Center for Bismayah Project Contracting Affairs in Baghdad International Fair

The National Investment Commission Opened a center for Bismayah New City project on the land of Baghdad International Fair to receive citizens registered and wishing to register for housing units in the project for the three surface area (100 m² -120 m²-140 m²).

NIC Chairman, Dr. Sami Raouf al-Araji said that the NIC agreed with the State Company for Iraqi Fairs to open a special center to receive the registered and wishing to register Iraqis for Bismayah new City project starting on Sunday, 03.06.2012 and under the supervision of specialists from the NIC and experts from the (Hanwa) company to answer all inquiries directed by the visitors, as well as registering new appliers and signing the housing unit contract after the payment of (25%) of the value of the housing unit to the branches of the three (Rafidain, Rasheed, and TBI) banks previously announced through the NIC official website.

He added that the NIC provided an opportunity for those wishing to register for the housing units of Bismayah New City project through their visit of the registration centre in Baghdad International Fair providing the required documents and to review the models of the housing units that will be implemented for the three surface areas, mentioning that the official working hours at the center is from 9:00 am to 6:00 pm seven days a week.

NIC Chairman said that (65%) of the amount of the housing unit is to be paid in the form of premiums for a period of (15 years) of (3%) interest with grace periods that reach up to (4.5) years, while the remaining (10%) is to be paid in cash upon receipt of the housing unit. The priority in the receipt of the housing units is to those who pay the amount at once or pay the premium within the less grace period which is (6 months) Noting that the price per square meter is (630 dollars) that the price of the housing unit area (100 m 2) is ($ 63,000), (120 m 2) is (75,200 dollars), while (140 m 2) is (88,200 dollars).

Worth mentioning that the NIC and under the auspices of the Prime Minister, Mr. Nuri Kamal al-Maliki had laid down the foundation stone for Bismayah New City project for building (100) thousand residential units of integrated services last Wednesday 30/5/2012, which is considered as the largest housing project in Iraq and part of the Baghdad’s share of $ (224 thousand residential units) of the project to build one million housing units throughout Iraq adopted by the NIC.

Under the auspices of the Prime Minister, Mr. Nuri Kamel al-Maliki

Under the patronage of Prime Minister Mr. Nuri al-Maliki has developed the National Investment Commission Wednesday, 05/30/2012 cornerstone of the City project بسماية residential building (100) thousand residential units integrated services, which is one of the largest housing projects in Iraq, which is part of the share of Baghdad, amounting to (224 thousand) and residential units within the project to build one million housing units throughout Iraq, sponsored by the National Investment Commission.

After the contract was signed implementation of the project in the building of the Council of Ministers on the same day and signed by the Iraqi side head of the National Investment Commission, Dr. Sami Raouf al-Araji, and the Korean side the President of the company (Hanwha) South Korea and in the presence of the Prime Minister, Mr. Nuri al-Maliki and President of the Board of Directors Group of Companies Hanwha .

He said the Prime Minister during a speech on this occasion that the City project بسماية modern city integrated services according to the latest international specifications and will be a model for all the provinces that have stakes in the project one million housing units, which is the start of the project the Grand National to solve the housing crisis in the country, noting that the government has made a lot of efforts and resources to support the project through the provision of appropriate prices for residential units.

He pointed out that the government has a tendency to build 200 thousand residential units distributed free to the poor and the owners of random housing to address the phenomenon of squatters will be borne by the government expenses of these units, calling on the relevant authorities to speed up the take the necessary measures to set up these projects and to create an appropriate environment to them.

For his part, Chairman of the National Investment Commission d. Sami Raouf al-Araji, said the draft بسماية is the first step on the road to the housing project of the national development and in accordance with the Five-Year Plan (2010 – 2014), which is estimated whereby Iraq’s need for housing units with two million housing units, pointing out that laying the foundation stone of this is the result of the efforts of two years of negotiations, technical and financial legal and with more than 150 international companies applied for the implementation of this project, stressing that the commission has paid great attention to the housing sector because of its economic and social role is important.

He explained that the relevant committee and the problem of the construction of one million housing units whose membership includes representatives from most of the ministries and relevant authorities, particularly the Ministry of Construction and Housing had a big role to study offers for the project and the development of determinants art and discuss every detail in order to be residential units according to the best standards of modern appropriate to the circumstances Iraq and social climate, as well as Thiah all services required for city dwellers.

He reported that the Commission reached in negotiations with the company executing the project to a common ground acceptable to both parties for the project is implemented according to the best formulas and timetable compressed standing seven years begin to receive first meal of the housing units at a rate of (1800) flat monthly starting from the month (28) of roll Until the completion of construction of the project and thus the body may have contributed to the achievement of major breakthrough for the rebuilding of Iraq and the national economy, expressing his thanks and appreciation to the Prime Minister to support the large and continuing to this project and projects of the Other, which will see the light soon on the road to rebuild Iraq, in addition to all the ministries and departments chock which contributed directly or indirectly, in order to show the project on the ground, particularly the Ministries of Finance and Housing and Construction, agriculture and municipalities, trade and higher education and scientific research, defense, interior and oil, the environment and the province of Baghdad.

For his part, Chairman of the Group of Companies Hanwha in his speech that the company will use the latest technology in the field of construction to make the city بسماية housing of the newest cities, presenting an overview of the projects implemented by the company over 60 years in various sectors, noting that this project is the largest residential project for the company Korean her out, the project will also promote bilateral relations between the two countries

The Deputy Minister of Land and Water Transportation Korean delegates from the South Korean government for this occasion a speech in which the government’s commitment to support the project and considered as a distinct symbol of Iraqi Korean economic relations

The draft City بسماية new will be implemented on an area (8000) acres, and planned to be home to (600,000) six hundred thousand people, and enjoy the city with all the requirements of modern city integrated according to the latest specifications and international standards and Sthoudy city infrastructures integrated start of a road network integrated into electrical energy with stable provision of water, in addition to health and educational facilities, cultural and entertainment will all be in the service of residents of the new city is located بسماية to the south-east of the city of Baghdad and lies about 10 km from the city limits of Baghdad, on the road between Baghdad – Cote d’.

The celebration was attended by a number of gentlemen members of the House of Representatives and deputy ministers, businessmen and representatives of organizations and unions, as well as the elders and the elders of the region.

Under the Patronage of H.E Prime Minister Nuri Al- Maliki
NIC Celebrates the Ground Breaking Event for Bismayah New City Project in Iraq

Under the patronage of H. E Prime Minister Mr. Nuri Kamil Al- Maliki, NIC had laid down the foundation stone for Bismayah New City Housing project of 100 thousand units with full services which is considered as the biggest housing project in Iraq and which is part of the big project of building One Million Housing Units all over Iraq adopted by NIC.

Iraqi Prime Minister, Mr. Nuri Al- Maliki said during his speech for the occasion that Bismayah is a modern city that is to be constructed according to the best international standards and shall be an example to follow by all other provinces and it is a start of the big national project to solve the housing crisis in the country, indicating that the government made ​​a lot of efforts to support the project through specifying the appropriate prices for the housing units.
He noted that the government has a tendency to build 200 thousand housing units to be distributed free to the poor and the owners of slums to address the phenomenon of land transgressors, calling on relevant authorities to expedite the necessary procedures to set up these projects and create an environment appropriate to them.
For his part, NIC Chairman Dr. Sami Raouf al-Araji said that Bismayah project is the first step on the road of the national housing project drawn in accordance with the Five-Year Plan (2010 – 2014), according to which Iraq’s need for housing units is estimated with two million housing units, adding that laying the foundation stone of this is the result of the efforts of two years of the technical and financial and legal negotiations with more than 150 international companies that bid for the implementation of this project, stressing that the NIC had paid great attention to housing sector because of its important economic and social role.
Dr. Al- Araji also explained that the relevant committee of the construction of one million housing units whose membership includes representatives from most of the ministries and relevant agencies, particularly the Ministry of Construction and Housing had a big role to study the bids, put the technical determinants and discuss every detail in order to be housing units according to the best modern standards appropriate to Iraq climate and social circumstances, as well as providing all the required services to the city inhabitants.
He also said that the NIC had reached in negotiations with the implementing company a common ground acceptable to both parties of the project in order to be implemented according to the best formulas and timetable compressed-standing seven years and begin to receive first batch of units at a rate of (1800) apartment per month starting from the month (28) of the roll until the completion of the construction of the project and thus the NIC may have contributed to achieving a major breakthrough for the rebuilding of Iraq and the national economy, and expressed his thanks and appreciation to the Prime Minister for his big and continuing support for this project and NIC other projects, which will see the light soon on the road to rebuilding Iraq, in addition to all the ministries and entities which contributed directly or indirectly in order to show the project on the ground, particularly the ministries of finance, construction, housing, agriculture, municipalities and trade, higher education and scientific research, defense, interior and oil, the environment and the Baghdad Governorate Office.
The Minister of Construction and Housing Mohamed Darraji in a speech during the ceremonial that the ministry would be committed to open a road from the center of the city of Baghdad to the city of Bismayah from the allocations of the Ministry and the provision of a special committee for the residing engineer in participation with the National Investment Commission to monitor the quality of the project, reporting that Bismayah New City project shall cover (5%) of the country’s need of housing units.
For his part, Chairman of board of directors of Hanwa group assured in a speech that the company will use the latest technologies in the construction field to make Bismayah residential city one of the most modern cities , presenting an overview of the projects implemented by the company over 60 years in various sectors, noting that this project is the largest residential project to the Korean company outside its country, as the project will enhance the bilateral relations between the two friendly peoples.
The Korean Deputy Minister of earth, water and transport as a representative of the South Korean government for the occasion gave a speech through which he showed his government’s commitment to support the project and as a distinct symbol of the Iraqi Korean economic relations
Bismayah New City project will be implemented on an area of ​​(8000) acres, and had been planned for to be home to (600000 people) six hundred thousand people, and the city shall cover all requirements of the modern integrated ones according to the latest specifications and international standards with integrated infrastructures starting from the integrated road network into stable electrical energy with the provision of water, as well as health, cultural, entertainment and education facilities.
The celebration was attended by a number Parliament members, deputy ministers, businessmen and representatives of organizations and unions, as well as the elders of the area.

Calls for the National Investment Commission gentlemen registered for residential units in the project the city residential to pay the first installment

In recognition of his outstanding scientific and professional carrier
College of Engineering, Michigan University Granted Dr. Sami Al-Araji the Outstanding Graduate Award

Dr. Sami Al-Araji, the chairman of The National Investment Commission was granted the Outstanding Graduate Award during a ceremony held in this occasion in recognition of his outstanding scientific and professional role he led in his carrier over the past years, both nationally and internationally.
Al-Araji who was a graduate from this university delivered a speech addressed both instructors and graduates of this year explaining the significant progress in the process of reconstruction in Iraq, the change from centralized economy to market – oriented economy in addition to the promising future of investment in various sectors in all Iraq provinces.

Al- Araji was congratulated by Michigan governor during his visit to Michigan, it should be noted that this award was granted annually to the owners who are distinguished for their pioneer role in their practical carrier to serve the community locally and internationally.