NIC Participates in the workshop held by the UNDP

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Aiming at Developing the Strategy of Funding Housing Projects in Iraq
NIC Participates in the workshop held by the UNDP

NIC participated in the workshop meant for developing the construction projects market in Iraq, the workshop was held in Amman under the patronage of the UNDP and devoted for discussing ways of eliminating main challenges that are facing the funding of the Housing sector in Iraq.
NIC Vice Chairman – Mr. Salar Muhammad Ameen who had represented the NIC in the event said that the workshop had witnessed prolonged discussions on funding the housing projects especially for low income Iraqis and the volume of the guarantees submitted by the Iraqi private banks to the companies ready to implement these projects in
addition to the importance of reinforcing the governmental banks role and developing its work to fund housing projects all over Iraq.
Mr. Ameen also said that the workshop had presented the similar experiments for some countries as Yugoslavia and Ukraine so as to benefit from these experiments to enrich the investment process in Iraq especially in this vital field referring that funding companies and private banks can play an important role in funding the big investment projects especially the housing ones.
The workshop also witnessed bilateral meetings that had gathered the NIC vice chairman with the chairmen of a number of big companies like the American (Council Capital) which is specialized in funding investment projects and had funded many projects in several African, Asian and East European countries.

Announcement- Kerbala Monorail

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Announcement

The National Investment Commission is pleased to announce the investment opportunity of establishing the project of Kerbala Monorail according to the following specifications:
1- Length of the line (18 KM)
2- Project Type (Monorail) – High Concrete mono rail of two ways known locally as Kerbala Monorail.
3- Number of stations (20) the distance between each station and another (800- 1000M)
4- In the first stage, the line shall connect the Visitors City – Baghdad road, Al- Bedaa railway station, Bab Baghdad area, Tweredg road, the university, Ibrahemiah and the Visitors’ road of Babylon Gate.
5- The successive coming of the trains to the stations must take (1-2) Minutes
6- Maximum train speed 90 km/hour
7- Number of vehicles for each train (4-6)
8- The electrical power is to be provided by the project generators only.
Willing investors can submit their technical, economic offers and the funding plans with filling up the investment application form available on NIC website and enclosing all documents required (mentioned in page No. 7 of the same application) and send it either directly to the NIC premises or to the email:
oss@investpromo.gov.iq .
Notice: applications can be submitted within one month from the date of publishing this announcement.

Announcement

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To/ Bismayah New City housing units registrars

Below are the names of the first group of Bismayah New City Housing units’ registrars
Please prepare to pay the down payment of 25% of the total value of the housing unit in one of the branches of banks listed below After reviewing a copy of the contract, which was prepared for this purpose.
Later on we shall inform you about the date of starting receiving the amounts required and completing the contractual procedures.

Al- Rafidain Bank
Al- Karkh Branches
1- Al- hay Al- Araby
2- Al- Khadhra
3- Al- Maarefa
4- Bratha
5- Al- Kadhumiya
Al- Kadhumya
Al- Rusafa Branches
1- Sharea Palestine
2- Al- Bab Al- Sharqi
3- Hay Al- Wehda
4- Al- Elweya
5- Al- Qaser Al- Abyadh

Al- Rasheed Bank
Al- Rusafa Branches
1- Al- Imam Al- Aadam – 151
2- Al- Eatemad Al- Tijary – 206
3- Thawrat Al- Eshreen – 200
4- Dijla – 245

– Karkh Branches
– Al- Salihiya – 33

Al- Rasheed Bank branches in the provinces close to Baghdad
1- Wasit – Wasit Branch – 275
2- Dyala – Al- Khalis Branch – 255
3- Anbar – Al- Ramadi Branch- 37
4- Babil – Al- Hila Branch – 5

Iraqi Trade Bank

1- Al- Harthya Branch – 2
2- Sharea Al Naher Branch – 6
3- Parliament Branch – 8
4- Al- Masbeh Branch – 9
5- IZ Branch – 11

To see the registrars names click here

For more information please contact:


07706771542

07812429508
07905578372

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.

Iraqi Prime Minister the Government will Work on Securing the Appropriate Investment Climate

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During His Visit to the National Investment Commission
Iraqi Prime Minister … the Government will Work on Securing the Appropriate Investment Climate

The Iraqi Prime Minister H.E Mr. Nuri Al- Maliki assured the importance of liberating the Iraqi economy from all comprehensive central mechanisms to attract capitals and activate the private sector role through accelerating the process of legislating laws that shall facilitate the investors work in Iraq in addition to amending or eliminating the legal texts that contradict the investment law No. 13 for the year 2006 and its amendments.

Maliki’s speech came during his visit to the NIC premises on Sunday 30th of October.2011 and meeting Dr. Sami Al- Araji and senior cadre there where he declared that the government will support an appropriate investment climate through activating the role of the one stop shop and being open to the private sector for its important role to make the investment process in Iraq a success.

The Iraqi Prime Minister expressed his big interest in the housing sector in Iraq and encouraged constructing the big full services housing complexes like Bismayah New City project which NIC is supervising within the project of building one Million Housing Units all over Iraq stressing the government readiness to support the NIC efforts in this field.
Al- Maliki also assured that such projects are contributing a lot in bridging part of the housing shortage in Iraq with moving the Iraqi economy through creating job opportunities in the various construction phases in addition to the developed look this kind of construction add to cities.
Iraqi Prime Minister added that investment process in Iraq has developed the matter that led international companies and banks to hasten the participation in the reconstruction process of Iraq, referring that there are several laws to be introduced to the Iraqi parliament for ratification which will help in establishing big strategic projects in Iraq as the infrastructure law.

Dr. Sami in his turn declared his delightedness with this visit announcing the hour 12:00 of Monday 31.10.2011 a date for ending the registration on Bismayah New City project since the number of the registrars had surpassed the number required which are 100 thousand registrars.

NIC chairman presented a detailed explanation for a number of strategic investment projects adopted by the commission adding that the confidence had been internationally increased in investment in Iraq that led to create strategic partnerships and that a number of international banks had informed the commission about their interest to fund investment projects.
Al- Araji also referred to some important legislation which is hopefully to be accomplished soon like the third amendment of the investment law and a number of legal articles within some other valid laws that contradict activation of the investment law and lead to delay the investment process in Iraq.
Prime Minister also listened to some interventions about the problems and obstacles of investment in Iraq promising to eliminate all of these through approving the required legislations and taking the appropriate decisions.

Under the Patronage of the National Investment Commission The Iraqi Austrian Economic Forum was held in Baghdad

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For the Purpose of Reviewing Investment Opportunities in Iraq by the Austrian Companies

Under the Patronage of the National Investment Commission

The Iraqi – Austrian Economic Forum was held in Baghdad

Under the patronage of the National Investment Commission, the Iraqi- Austrian Economic Forum was held in Baghdad on Nov.16.2011 with the attendance of the Iraqi Minister of Foreign Affairs Mr. Hoshiar Zebari and the Deouty Prime Minister, Minister of Foreign Affairs of the Republic of Austria Mister Michael Spindelegger accompanied by a number of the representatives of the big Austrian companies

The Guest Minister expressed his country’s desire to enter the Iraqi market and to support the economic growth in Iraq through submitting Austrian expertise in the various economic fields assuring that this visit shall include a number of important meetings that aim at solidifying economic and commercial relations and mutual benefits.

Iraqi Minister of Foreign Affairs in his turn highly praised the NIC efforts in arranging the forum and hosting the Austrian delegation stressing the government ambitions to reinforce mutual visits for their importance in developing relations between the two countries considering this forum as an opportunity to exchange opinions and expertise for activating investment in the various economic fields like “Housing, Health, Industry, Agriculture, Education… etc”

Iraqi and Austrian Foreign Ministers had previously announced reaching an agreement to sign 6 economic agreements of total amount of 60 million$ and activating the Iraqi- Austrian Ministerial joint committee.

The forum also included a speech for Mr. Richard Schenz – Vice president of the Austrian Federal Economic Chamber through which he assured that Iraq is the third best market for Austria in the region after the Kingdom of Saudi Arabia and the United Arab Emirates as the commercial exchange with Iraq had reached 450 Million $ during the first part of this year rising 170% because of the fast growth Iraq is witnessing.

Mr. Schenz assured that Iraq is of big importance for economists in Austria and that the first office for the Austrian economic chamber in the region was established in Iraq in1955 after Austria got Independence.

The NIC Economic Advisor, Mr. Abdullah Albander warmly welcomed the guest Minister and the accompanying delegation saying that this forum will have high impact on activating and developing the bilateral relations expressing his hope to come up with important economic partnerships between the Iraqi and Austrian private sectors the matter that will serve both sides economic benefits.

The Forum was attended by representatives of 16 Austrian companies like MOV which is specialized in Oil industries and the Austrian airlines Company with a number of banks while attendants from the Iraqi side were the representatives of several Ministries “Industry, Housing and Reconstruction, Trade, Baghdad Mayoralty, Iraqi National Business Council, Iraqi Businessmen Union and NGOs.

National Investment Commission, Re-announcement of tender (1) 2011

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National Investment Commission
Re-announcement of tender (1) 2011

The National Investment Commission (NIC) re-announces a tender for the construction of NIC complex listed under the investment budget 2011 located in Baghdad/ International Zone.
Interested companies classified as first class /construction according to Iraqi MoP classification are invited to visit NIC headquarter (Baghdad/ International Zone near the 14th July Sq.) to obtain the tender documents (Bill of quantity, design drawings) for non-refundable 250 thousand ID with accompaniment of the documents stated in the following 1,2,3 items. Offers will be deposited in NIC tender box including the below mentioned documents. Dead line for receiving offers on Sunday 13/ 11 /2011 before 2.00 pm.
The winner shall bear the cost of publication and announcement.
A conference shall be held in NIC headquarter on the 3rd November 2011, 2 pm to answer all your inquiries.

Required document:

1. Company classification identity (original) issued by the Ministry of Planning according to contractors registration and classification regulation.
2. Company establishment documents certified by company registration department.
3. Clearance issued by the General Commission for Taxes for 2011
4. Certified check or bid bond of 1% of the value of the offer issued by a reliable Bank.
5. A financial statements, including the final accounts of the company for last three years audited by a legally certified accountant and a bank statement showing the financial capacity in numbers.
6. Provide documents showing the qualifications of the technical and administrative specialists, working part /full time for the company as well as the machinery and engines belonging to the company.
7. Attach receipt of purchasing tender when applying

General info:-
1. Contractor or company shall submit prices in Iraqi dinars exclusively in numbers and writing, under bill of quantities associated with the tender documents. All the papers should be stamped with a statement of time required to complete the work, full company address, phone number, e-mail and all personal documents of the authorized director.

2. NIC is not obliged to accept the lowest offer
3. Construction period is 21 months.
4. Prove the capacity of the company’s expertise in the field of contracting in addition to the implementation for similar works certified by beneficiaries
5. The contractor or company is not allowed to refer the work to sub-contractor or company.
6. The offer shall be submitted in three sealed envelopes, commercial, technical and required documents.
7. NIC will organize a conference to answer participants inquires seven days before the dead line.
8. This announcement is part of the contract and obligatory to the contractor in all of its items as soon as submitting the offer.
9. The instructions and implementation of government contracts no. (1) in 2008, provisions and specifications of the engineering contractors in its two parts I, II issued by the Ministry of Planning shall be reliable.
10. offer expiry date should not be less than 90 days
11. Any offer that does not meet the a/m conditions shall be neglected and no excuse/ negotiation shall be accepted regarding any condition included in the announcement.
12. Foreign companies shall present an establishment certificate proved by an authorized body in Iraq with other attachments proving the establishment of its branch in Iraq.

Chairman, National Investment Commission

NIC Announces Extending Periods of Premiums from (7) to (15) years for Bismayah Housing Units Buyers

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NIC Announces Extending Periods of Premiums from (7) to (15) years for Bismayah Housing Units Buyers

NIC announced that an agreement had been reached on Tuesday Oct.4.2011 with the three governmental banks (Rafidain, Rasheed and TBI) to extend periods of premiums in to (15) years instead of (7) with granting grace periods that starts after paying the down payment according to a newly accredited repayment schedule which is to be announced soon through the media and the NIC official website.

New investment opportunity

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In conjunction with the Shiite Endowments Authority, NIC has the pleasure to announce the investment opportunity of constructing a housing units complex in Baghdad on the lot numbered 16/207 M4 – Kerada (total area of 60 Dunm).
Investment license applications can be found on the One Stop Shop page of our site.
Investment applications should be submitted directly to the NIC or by email to info@investpromo.gov.iq .