NIC Chairman discusses mutual cooperation with the Jordanian Ambassador

Dr. Makiya, NIC Chairman meets with Dr. Muntasir Oqla Al-Zoubi, the Jordanian ambassador in Baghdad. Both discussed investment partnership mechanism between the two countries.

NIC Chairman said the Iraqi Gov. is keen to encourage investment and establish actual partnerships with foreign private sector based on demand and community development.

He added that the National Investment Commission is looking forward to prospects of joint cooperation with Jordanian investment companies and offer them distinct project models, indicating that plans are proceeding towards facilitating investment licenses granting to foreign investors according to the governing legal terms.

His Excellency the Jordanian Ambassador, Dr. M. Oqla Al-Zoubi, expressed his thanks to His Excellency the Chairman of the NIC, referring to the Kingdom’s keenness to develop bilateral cooperation in the investment sector in Iraq.

6^th March 2023

NIC Chairman discusses with the Korean delegation Bismaya project annex and orders quick procedures to sign it.

 

Dr. Makiya discussed with S.K Hanwha delegation the financial, legal and technical aspects in order to sign Bismaya project annex.

Chairmen welcomed the delegation during the meeting attended by the committee concerned in studying the project and determine the financial situation. He focused on continuing these meetings to provide a mechanism for financial, technical and legal procedures relevant to signing the contract with the executing agency.

Bismaya project is a successful one and it should be taken care of  and keep working to complete all necessary requirements to sign the annex according to investment law.

S.K delegation expressed cooperation with NIC to finish the job within time line based on contract terms and in a good quality.

5^th March 2023

 

 

 

Chairman discusses with the Iraqi Economic Board forming an investment disputes court house in Iraq 

 

Dr. Makiya, NIC chairman discussed with members of the Iraqi Economic Board how to improve mutual cooperation and the possibility of forming an investment disputes court house in Iraq. He also mentioned that NIC is leading a mutual cooperation between public and private sector to enhance investment and meet community requirements considering successes criteria of agriculture, industrial and residential projects as a must for the development process in Iraq.

He added that NIC is studying with relevant agencies the possibility of forming an investment disputes court to address obstacles challenging investment projects.

Dr. Baghdadi, head of the Iraqi Economic Board welcomed NIC Chairman and his cooperation with other investment and economic institutions in order to finalize ideas and visions regarding vital projects in Iraq.

Attendees referred to a group of proposals that may be a base for quality procedures in investment commissions in all provinces.

5^th March 2023

NIC announces development reforms in Baghdad and other provinces

NIC Chairman said that the government is currently providing a modern investment mechanism and activate procedures to handle challenges which blocked implementing some projects including residential projects in Baghdad and provinces.

He also stressed that there will be a bunch of reforms which shall be implemented within a certain time line in coordination with state agencies and Provincial Investment Commissions. Reforms were provided with strategic priorities and shall include all developmental investment projects not build during the last years.

 

Bismayah water project, after being stopped for three years

NIC Chairman to residents:

Ministry of housing and Baghdad Governorate signs a joint minutes of meeting to meet Bismayah city need for water.

NIC chairman mentioned that going to full capacity to cover the need for water for 100 k units and the power station are top priority in our strategy to serve the city especially in summer season with the low water level in the river Tigris.

After meeting with the Housing Vice Minister and Baghdad Governor this week, Chairman said that they overcame a number of challenges which blocked continuing Bismayah water station being unable to meet the full need for water in summer season.

They agreed during the meeting to establish a new capacity water source to meet the needs of all residents, also, Baghdad governor and officials in Housing and Power Ministries were very cooperative in handing lands with new sources.

It is expected that Korean Hanwah will start building the new water source from the river Tigris to Bismayah project soon along with NIC preparations for the company to come back on track.

2^nd March 2023

 

• NIC Chairman gets hosted in the Iraqi Parliament
• NIC Chairman met with the head and Members of the Parliamentary Committee of Investment and  Development and discussed the legislative environment of Investment and ways of addressing challenges facing this field to raise the standards of its activities on the executive level.
• He also discussed the suggestions to modify the provisions of Investment law No. 13 for the year 2006.

 

NIC addresses the infrastructure issues in Bismaya Project

NIC Chairman discussed in the Ministry of Construction, Housing, Municipalities and Public Works potentials to improve infrastructure services and build a water intake station for Bismaya project in Baghdad. The meeting was attended by the technical deputy minister, Baghdad Mayor and other supporting agencies where they  discussed procedures to allocate wide areas of lands within Baghdad to the National Investment Commission to build the water intake station in Bismaya project.

Chairman stressed on completing the best basic services for the residents on all aspects.

The meeting concluded providing plans and studies aiming at enhancing joint efforts of the state institutions to provide services that meet the residents requirements.

28^th Feb. 2023

 

The National Investment Commission holds an important meeting following up Al Rafeel City Project.. Chairman orders forming committees in charge of finishing procedures.

The National Investment Commission holds an important meeting following up Al Rafeel City Project.. Chairman orders forming committees in charge of finishing procedures.

Responding to the Prime Minister’s, Mr. Muhammad Shia’a Al-Sudani, instructions to stop granting investment licenses until completing inventory, inspection, survey and land identification actions within the remaining stages within Al Rafeel City project in the second, third and fourth levels, Dr. Makiya, NIC Chairman headed an important meeting with the Minister of Housing and Reconstruction, Baghdad Mayor, Baghdad Governor, Head of Parliament Investment Committee, PM advisor, DGs from State Real Estates, Agriculture lands, Real Estate registration, Aviation Authority and representatives from Interior Affairs and Defense Ministries. He discussed American CH2M HLL designs regarding AL Rafeel City to be build in Baghdad according to the Ministers’ Council resolutions (175) and (213).

Attendees reviewed implementation levels for already  built projects and planned ones and discussed issues that delay  future projects such as the fourth round highway that might be opposed to other licensed existing projects around BIAP.

During the meeting, Chinese Sichjuan Road & Bridge Group detailed offer was discussed in coordination with American CH2M HLL and governmental ministers’ potentials to implement Al Rafeel projects and overcome challenges within determined timeline.

They decided the following:

• Forming a superior committee to be ordered by the Prime Minister to study the existing projects within Al Rafeel area surrounding BIAP . Dr. Makiya shall be the head of this committee and concerned governmental ministries and agencies as members.
• Forming supporting sub-committees to complete the final inventory and survey actions for the main committee, and submitting them in a detailed report to the Prime Minister.

 

 

While heading the first Provincial Investment Commissions: Chairman of the National Investment Commission, Dr. Haider Muhammad Makiya, stresses the importance of addressing challenges facing sectoral work in Iraq.

 

To enhance the value of the Iraqi currency and cut off speculators

NIC Chairman orders paying housing project installments in Iraqi currency.

Today, Tuesday 21/2/2023, the Chairman of the National Investment Commission instructed the investment commissions in all the provinces to pay the installments of the housing units in the investment housing complexes of those who obtained investment licenses from the Baghdad Investment Commission and the Provincial Investment Commissions, where each of the investing companies to open an account in Iraqi banks (different currency) in US dollar with an exchange rate of 1310 dinars per dollar.

This official announcement for the Provincial Investment Commissions ordered deposit housing units installments in those accounts in Iraqi currency with an exchange rate of 1310 dinars per dollar to avoid extra burdens on Iraqi people.

NIC issued an announcement on the 1^st Feb. to contracting companies investing in housing complexes to collect installments in Iraqi dinar  with an exchange rate of 1470 dinars per dollar as decided by the Central Bank of Iraq to the final  beneficiaries along with the government policy to stabilize the market.