NIC Chairman Speech during his attendance in Nineveh Investment Conference – Turkey

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Dear honorable Guests…

It is my pleasure to be here today in this conference held by Nineveh Investment Commission on the ground of the neighboring Turkey for the purpose of getting the Turkish investors and companies acquainted with the investment climate in Iraq generally and in Nineveh particularly wishing you all progress and prosperity.
Dear Guests: the essential economic transformation that had taken place in Iraq after 2003 concentrated on the eventual transformation into the market economy which ensures achieving reasonable averages for the GDP growth through activating economic sectors contributing in forming it and that the most important means for achieving this is granting the local and foreign private sector a bigger space in order to accomplish the goals drawn for the new economic policy in Iraq and as a result was legislating the investment law No. 13 of the year 2006 amended which was the good recipe for activating the role of the private sector which can participate in achieving the developmental plans goals in Iraq the last of which is the five – year plan (2010- 2014) which pointed at the importance of investments in the economic transformation Iraq is currently witnessing.
Ladies and Gentlemen;
The Iraqi economy is a fertile one and lots of its sectors have not been fully exploited, hence investors shall find many available opportunities beside the broadened size of the local market and the increasing demand for goods and services in addition to the increase in the supply of labor force in all specializations with the big efforts made by the government to control the inflation averages and the profit rates through the monetary policy adopted by the Iraqi central bank.
NIC sought since it was first established to provide every possible support to all provincial investment commissions in Iraq to take their required role within the framework of reinforcing the non- centralized management without forgetting the high importance of coordination among the provincial investment commissions and the NIC.
In this regard, I would like to refer to the great efforts made by Nineveh Investment Commission supervised by the Governor to achieve important steps in attracting investment companies and capitals into the province and this conference is a clear sign for the great job done by this dedicated staff.

The NIC chairman Dr. Sami Al-Araji emphasizes the need to reconsider a number of laws in force

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In order to mature legislative environment for investment in Iraq
The NIC chairman Dr. Sami Al-Araji emphasizes the need to reconsider a number of laws in force

The chairman of NIC Dr. Sami al-Araji, emphasized that the practical experience which undergone by NIC through dealing with investment companies, wishing to invest in Iraq, proved the need to reconsider a number of laws and make important amendments to it and in the forefront making another amendment on the amended investment law no.(13) for the year 2006 to mature encouraging legislative environment to invest in different sectors in Iraq, indicating that NIC submitted recently a working paper to the economy and investment committee in the parliament determines the required procedures to amend those laws as well as giving wider authorities to the ministries representatives in NIC to activate the work of OSS and the provision of infrastructure for the investment projects to ensure their success and completion in specified time, this came during the chairman of NIC attendance in the Iraqi second conference of energy in Baghdad university indicating that NIC worked from the first time to prepare the investment map to involve all ministries particularly the oil ministry by indicating sectoral investment opportunities that have been updated twice to take a role in the promotion of these opportunities through conferences, seminars and meetings held by NIC inside and outside Iraq because the energy sector presents the lifeblood of the Iraqi economy.

Araji added that private sector has an important role to develop the energy sector in Iraq but, it didn’t play the same role in Economic Development through the three decades of the last century because of the Economic Policy at that time ,he also indicated that the reactivation of the amended investment law will give a boost to the private sector to participate in many projects included in the investment map ,take the real role to lead the economic changes and to achieve the required growth rates and bridge the investment gap between what available from government resources and the actual need of the economy by entering the foreign capitals and the contribution of the local capitals in the investment.
On the other hand he said that NIC works to activate the article no. 9vIII which states (encourage the Iraqi investors by provision soft loans and financial facilities for them).

NIC formed committee including representatives from Finance Ministry, Central Bank and private banks which had completed the appropriate mechanisms for the granting of soft loans.

At last the chairman of NIC commended the efforts to organize and set up this conference and the accompanying specialized exhibition, considering the establishment of such works contributes effectively to promote investment in Iraq and strengthen communication between private and public sectors.
From her part the Director of Iraqi’s International exhibition company, Ms. Sahar-Alalaq, appreciated the NIC chairman’s role in supporting the private sectors’ organizations which promote investment in Iraq through his active attendance in symposiums and seminars which are held on the sidelines of the conferences and exhibitions.

This conference was attended by former Ministers of Oil and Transport Ibrahim Baher al-Ulum and Amer Abdul-Jabbar as well as representatives of ministries of Oil, Science and Technology, Planning and Electricity and number of private companies in energy sector and Businessmen.

Chairman of the National Investment Commission, Dr. Sami Al-Araji .. Today Iraq has become a magnet for investors

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During his meeting and Swedish Trade Minister
Chairman of the National Investment Commission, Dr. Sami Al-Araji .. Today Iraq has become a magnet for touched

The head of the National Investment Commission Sami Raouf al-Araji said Iraq has become today a magnet for investors to the advantage of its promising investment opportunities in all sectors of the economy, as well as the advantages and guarantees provided by the Investment Law No. 13 of 2006 amending for all those who wish to enter the Iraqi market promising to invest in them.
came that during his meeting with Minister of Foreign Trade Swedish (IFA Brolink) and her accompanying delegation Thursday, 19.04.2012 in the presence of Governor of Baghdad Dr. Salah Abdul-Razzaq, Undersecretary of the Ministry of Construction, Mr. Faleh Al-Amiri and a number of business representatives from the private sector in both countries, noting that Iraq and Sweden enjoy relations friendship good and economic relations are strong.
said al-Araji, that the Commission discussed with Secretary guest investment map for Iraq and the investment opportunities available there and in different sectors, including the (industry, agriculture, health, transport, communications, housing, education, tourism, infrastructure, etc.), as well as Log in Swedish companies to contribute to the investment process through direct investment or partnerships investment strategy with the Iraqi private sector for the implementation of small and medium enterprises that concern the citizen.
For its part, expressed Minister of Foreign Trade Swedish thanks for the warm reception that met him from the Iraqi side, announcing her country’s desire to establish Conference on business investment in the Swedish capital (Stockholm) end of the year under the auspices of the Ministry of Commerce Swedish Federation of Chambers of Commerce of Iraq and Bhoudoraadd of Ministers of both countries and representatives from the private sector, where the conference aims to create visions and a common policy for the expansion of trade between Iraq and Sweden and the establishment of investment partnerships far term.
, adding that the visit to Baghdad is the fifth after her in 2003 and it’s on every visit fumble significant progress on the level of security and economic situation in Iraq, and that it will encourage Swedish companies to work in Iraq and the exploitation of promising investment opportunities and available in it.
And at the same explained Governor of Baghdad Dr. Salah Abdul Razak said his recent visit to Sweden, where he met the President of the provincial council in Stockholm and President of the Chamber of Commerce, Swedish and a number of officials resulted in a program of cooperation in various fields with the Swedish capital (Stockholm) aims to develop bilateral relations based on common interests and maintain plans to sign a memorandum of understanding between the two capitals early next month, expressing his willingness Baghdad province to provide the required support, including for companies wishing to invest in the province, including the Swedish companies and as guaranteed by law invest No. (13) for the year 2006, that the province has allocated one billion two hundred million dollars of investment projects for this year.
For his part, U.S. Undersecretary of the Ministry of Construction and Housing, Mr. Faleh Al-Amiri said the ministry want in collaboration with Swedish companies to enter into the area of housing, particularly buildings and low cost, which fall within the housing project a large prepared ministry within the project infrastructure that will be implemented payment system on credit, in addition to entering partnerships with Facilities ministry, expressing about the need for the ministry of equipment and machinery for Aesm modern and sophisticated than in the area of housing and construction that could processed by Swedish companies to the Ministry.
On the sidelines of the meeting has been offering a number of inquiries and questions from representatives of the private sector in both countries through which the exchange of ideas and opinions, which aims to develop relations in order to serve the common interests of both sides

Investment opportunity

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Investment opportunity

The National Investment Commission is pleased to announce the investment opportunity to construct a complete residential complex for the employees of the Shiite Endowments Directorate in Baghdad – Karrada district within a total area of (60) acres in accordance with the Investment law No. 13 of 2006 as amended and according to the requirements set below:

1- The project includes the establishment of a residential complex of vertical eight-storey buildings each

2- Number of units to be implemented is (2400) housing units with areas of (125 m ², 175 m ², 225 m ²)

3- Constructing schools for the three phases with nurseries – medical centre – a shopping and marketing center – a cultural center – services (water, sewage, power stations and generators).

4- a playground, passengers roads, parking spaces and green areas in accordance with the in forced relevant standards of the Municipality of Baghdad and the Ministry of Housing and Construction.

5- The system of funding for this project will be supported through a bank that should be accredited by the Central Bank of Iraq to be a mediator between the beneficiary and the investor while the cost of each apartment and the payment mechanism is to be negotiated with the investing company and the mediator bank.

Investors who wish to apply for this investment opportunity can provide their technical, economic and financing plans and fill in the investment application form available on the website of the National Investment Commission and attach requirements described on page (7) of the same form.

Note: You can apply for this investment opportunity within one month from the date of publication of this announcement.
oss@investpromo.gov.iq

NIC Chairman Meets the Baroness Emma Nicholson

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NIC Chairman Dr. Sami Al- Araji met in his office at the 16th of Apr.2012 the Baroness Emma Nicholson, Member of the British Counsel of Lords and the accompanying delegation of the big international companies.