NIC shares Ministry of Oil meetings with the Saudi Arabian delegation and both discuss the Oil investment map

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NIC shares Ministry of Oil meetings with the Saudi Arabian delegation and both discuss the Oil investment map

NIC participated in the negotiations sessions held between the Iraqi Ministry of Oil and the Saudi Arabian delegation regarding oil investments and work mechanism according to legal framework.

The meeting was headed by Minister of Oil, Mr. Hayan abdul Ghani, who assured the Iraqi government proceeding in developing oil sector through attracting specialized investment companies and defining the work mechanisms specified after the determinants laid by investment law no. 13 for the year 2006, as amended and investment law no. 64, pertaining to crude oil refining, for the year 2007, as amended.

On the margins of the meeting, a round table session was held with the attendance of a number of NIC departments and sections representatives in addition to a number of the Ministry of Oil officials.

The attendees brought to light the importance of oil refining investment opportunities which are six in different Iraqi provinces and were named as : Al- Qayyara investment refinery project in Nineveh province, atmospheric residue desulphurization investment project in Basra province, Missan investment refinery project in Missan province, Al- Nassiryah investment refinery project in Dhi Qar province, al- Samawah investment refinery project in Muthana province, Al- Kut investment refinery project in Wasit province, and a still to be determined investment refinery in Haditha/ Anbar province, in addition to discussing the sixth permit rounds that include (11) investment project

Head of the Saudi delegation, in his turn stressed the importance of opening investment horizons in Oil sector between the two countries institutions.

 

NIC Chairman receives a Saudi Arabian delegation and discusses the completion of Riyadh talks regarding opportunities paths between the two countries 

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NIC Chairman receives a Saudi Arabian delegation and discusses the completion of Riyadh talks regarding opportunities paths between the two countries 

NIC Chairman, Dr. Haider Muhammed Makiya, received a Saudi Arabian investment delegation and discussed path of investment opportunities of strategic nature aiming at developing the two countries’ economies.

NIC Chairman and during presiding a joint meeting that was attended by representatives of Ministries of Oil, Eletricity, Industry and Minerals, Trade, Housing and Construction, municipalities and public works, and Health assured the importance of completing talks and negotiations that had started in KSA in the recent month and laying down an executive roadmap to define investment projects that can serve Iraqi people.

He added that the goal behind this meeting is to strengthen investment movement and explain legal and technical terms of all available opportunities, stressing that NIC is working on fostering partnerships with the region and world countries to reinforce Iraq’s economic resources through foreign capitals and investors.

Head of the Saudi delegation, Mr. Meshaal Bn Khalid, in his turn expressed his appreciation to NIC chairman referring to his government support to the Iraqi government plans in investment and development of sectors like agriculture, electricity, oil, trade, housing and health.

Chairman of the National Investment Commission discusses encouraging and protecting mutual investments and reveals to Saudi businessmen the elements of Iraq’s safe environment

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Chairman of the National Investment Commission discusses encouraging and protecting mutual investments and reveals to Saudi businessmen the elements of Iraq’s safe environment

The Chairman of the National Investment Commission, Dr. Haider M. Makiya, met with the Deputy Governor of the Saudi Public Investment Fund, Mr. Yazid Al-Hamid, and discussed measures to encourage and protect mutual investment work between the two countries.

Dr .Makiya stressed on activating the Iraq- Saudi Co. for investment works by starting a branch in Iraq according to Iraqi laws.

The two sides discussed work mechanisms in the International Finance Corporation (IFC) and the International Investment Guarantee Agency (MIGA), and strengthening bilateral relations in order to develop the wheel of investments in Baghdad and Riyadh provide pillars of a safe environment in Iraq.

Makiya explained NIC efforts to present an agreement to protect and encourage mutual investment business to the House of Representatives for a vote, in a way that enhances the status of investment in supporting the national economy.

In the same context, NIC Chairman attended the Iraqi-Saudi joint round table meeting, with the participation of undersecretaries of the Ministry of Investment and a number of Saudi businessmen and investors.

NIC presentation during the meeting included explaining the Investment Law no. 13 for 2006 and some available investment opportunities in different sectors.

Saudi businessmen and investors cleared some points related to the nature of investment work inside Iraq and the procedures for granting licenses to projects and exemptions.

At the end of the meeting, Deputy Governor of the Saudi Public Investment Fund thanked NIC Chairman and his delegation and stressed on S.A support to complete a mutual agreement that serves work sectors in both countries.

 

The Chairman of the National Investment Commission discusses the mechanisms for adopting electronic governance to manage smart city projects in Iraq

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The Chairman of the National Investment Commission discusses the mechanisms for adopting electronic governance to manage smart city projects in Iraq

The NIC Chairman, Dr. Haider Muhammad Makiya, discussed with the CEO of Elm for Digital Transformation, Mr. Abdul Rahman Al-Jadhei, the mechanisms of employing digitization technology in the management of investment projects.

The two parties discussed the ideal usage of the digital technology in investment projects and smart cities in the next period of time in Iraq.

Both parties agreed on the importance of keeping pace with technology and benefiting from the potential of digital transformation in managing development projects and adopting digitization and electronic governance in the economic, commercial and investment sectors.

The Chairman of the National Investment Commission meets the Saudi Minister of Investment and discusses the soft loan of three billion dollars for the reconstruction of Iraq

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The Chairman of the National Investment Commission meets the Saudi Minister of Investment and discusses the soft loan of three billion dollars for the reconstruction of Iraq

The Chairman of the National Investment Commission Dr. Makiya meets the Saudi Minister of Investment Mr. Al Falih and discusses the soft loan of three billion dollars for the reconstruction of Iraq

The two sides addressed topics such as the sports stadium, the S.A grant, and expanding bilateral cooperation in various sectors guaranteed by investment between Baghdad and Riyadh.

Dr. Makiya stated that the investment map for Iraqi projects includes many opportunities for Saudi investors, calling for continued efforts and meetings in order to make the plans aiming at strengthening relations between the two countries’ investment institutions succeed.

Chairman of the National Investment Commission discusses prospects for coordination in investment projects with the Saudi Council for Development Chairman.

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Chairman of the National Investment Commission discusses prospects for coordination in investment projects with the Saudi Council for Development Chairman.

The Chairman of the National Investment Commission, Dr. Haider Muhammad Makiya, met in Riyadh today, Sunday 3/19/2023, with the Chairman of the Saudi Council for Development, Mr. Sultan Abdul Rahman Al-Murshed, they discussed expanding the horizons of development projects between the two countries.

During the meeting, attended by the Iraqi ambassador to Riyadh, Dr. Abdul Sattar Hadi al-Janabi, NIC Chairman confirmed the interest of the Iraqi government in developing the investment sector, and expanding dealings with foreign investors, indicating that NIC has plans to move the sector towards large projects.

He added that the meeting with the Saudi side discussed mechanisms for allocating development projects from different sectors, establishing model health centers and schools throughout Iraq, silos in specific areas in a number of governorates, as well as infrastructure for residential cities.

For his part, the Chairman of the Saudi Council for Development, Mr. AlMurshed, conveyed the greetings of the Government of the Kingdom of Saudi Arabia to the Iraqi delegation and its willingness to open horizons for joint coordination in the investment sector, pointing out that the Saudi side is working to strengthen partnership with the NIC and develop it towards various sectors that meet the needs of the Iraqi market.

NIC Chairman discusses commercial and investment cooperation with the Saudi Minister of Commerce

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NIC Chairman discusses commercial and investment cooperation with the Saudi Minister of Commerce

Dr Makiya, NIC Chairman, discussed commercial, economic and investment cooperation between Baghdad and Riyadh with the Saudi Minister of Trade, Dr. Majid bin Abdullah Al-Qasabi.

At the outset of the meeting, which came as part of the program of the Iraqi delegation’s visit to the Kingdom of Saudi Arabia, Dr. Makiya  indicated the importance of strengthening trade and investment relations with the regional countries and the world, including Saudi Arabia.

The meeting discussed identifying paths of investment opportunities and ways to enhance economic cooperation and develop commercial opportunities between the Republic of Iraq and the Kingdom of Saudi Arabia.

In the same context, the Saudi Minister of Commerce, Dr Al-Qasabi, explained the S.A interest in raising cooperation levels with Iraq and proceeding with strategic agreements that serve the economic, trade and investment sectors in both countries.