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.

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.

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