During a meeting with the Heads of Union of chambers of commerce in Iraq the
NIC Chairman, Dr. Sami AIaraji ….. The private sector is an important partner in the process of rebuilding Iraq

The chairman of NIC said that the existence of database or Bank of information includes all the economic data in the private sectors taking into consideration the miscellaneous function in all provinces is an essential and an urgent matter to develop the private sectors.
He added during the meeting held with the Union of chambers of commerce that the Union represents the most important player in the economic process in Iraq and also plays an important historical role in economic policy. AIaraji hailed the history of the private sector in Iraq presented by the economic and commercial entities such as INBC which includes more than 100 businessmen. AIaraji also stressed the importance of participation of all representatives of the private sectors in the organized economic activities inside and outside Iraq to reflect a deep investment and economic vision expressing positively the activities of the private sectors in Iraq .Regarding the cooperation with the big international organizations which seek to benefit from the experience of the private sector in Iraq he referred to the importance of making alignment between the private sector in Iraq and some international organizations that have their conditions and requirements which can open new horizon in the free economy in Iraq. He stressed the importance of sustainable relationship between the two parties and not limited to attending the forums and conferences only which help to attract these international gatherings through professional organization, foreign and domestic, owners of capital and businessmen who present our substrate abroad and contribute to attract the companies to enter the Iraqi market through their contact and acquaintance with the private sector in Iraq. on the other hand the chairman of NIC explained that the big and important projects waiting for the private sectors such as investment projects and deferred payment as well as the investment partnerships with the public sector which became a vast field for the private sector and he confirmed the importance of the cooperation with the provincial investment commissions to play an important role in the economic development of provinces to produce the best services for the citizens. From his part Mr. Gaffer -Alhamdany, the chairman of the Union of Chambers of Commerce, submitted a detailed historical presentation about the Union of Chambers of Commerce in Iraq that was established in 1889 including more than million merchants and (176) thousand registered company. He also expressed the readiness of INBC to build bridges of cooperation and put all abilities of the union under the disposal of the government and NIC which sponsors the private activity in Iraq to participate in the construction, stressing the union’s constant need to support the government materially and morally to involve the union with its representatives in the investment activities inside and outside Iraq which contributes to develop their abilities and experience. At last Alaraji listened to some suggestions and opinions of the Heads of Chambers of Commerce in the provinces which are related to investment in the various sectors as well as the participation of Chambers of Commerce in the investment opportunities in cooperation with the provincial investment commissions and facilitating their tasks in building and reconstruction also the NIC promised to address all problems in coordination with the concerned entities.

During his Meeting with the Chairmen of the Provincial Investment Commissions
NIC Chairman Reasserts the Necessity of Activating the Investment Process in all provinces

NIC Chairman, Dr. Sami Al- Araji reasserted the importance of allocating lands suitable for investment in the provinces with classifying them in terms of sectors (industrial, commercial, agricultural or housing) lining with the aspirations of the investment map in Iraq for the year 2012, referring to the necessity of preparing a data base for these lands in each province that can actively help in the evaluation process.
The above speech came during heading an expanded meeting for chairmen of all provincial Investment commissions during which Dr. Al- Araji stressed the importance of finishing the new investment map for each province in the various sectors which is to be promoted during all events and international investment conferences for companies and capitals holders.

About investment law and the requirements of the coming phase, NIC Chairman made clear that the coming period shall witness modifying some articles of the investment law No. 13 of the year 2006 and a number of other laws that contradict with the investment law in a way that grants investors more privileges with concentrating on activating the One Stop Shop special role to be played in order to facilitate the procedures needed to be taken to obtain the investment license through granting Ministries representatives wider authorities to make final decisions on behalf of their ministries.

NIC Chairman also listened to a number of suggestions and opinions of the chairmen of PICs regarding the investment in the various sectors promising to eliminate all obstacles that hinder implementing investment projects in all provinces.

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.