Within the Framework of the project of Building One Million Housing Units
NIC Announces Finalizing the Fundamental Designs of (100) thousand Housing Units in Baghdad

NIC announced finalizing the fundamental designs for the project of building (100) thousand housing units in Bismaya on a total area of (8 thousand Donums) and to be inhabited by (500- 600) thousand Iraqi Citizens.
Dr. Al- Araji, NIC Chairman said in a press conference held for this purpose that this city will be constructed according to the latest international standards with full services (schools- clinics- commercial, social and entertainment centers).
Dr. Sami added that the forthcoming weeks will witness announcing the start of registration by employees to know the total number of those willing to buy these housing units of (100 m², 120 m², and 140 m² areas) with three rooms for each.
Dr. Sami also highly praised the special efforts done by the Iraqi and the Korean sides in this project which is the result of the agreement signed on the 25th of May.2011 as an Iraqi team had worked with the Korean side which included members of the Iraqi Ministry of Housing and Construction and other Ministries and universities and in the forefront the University of Technology.
Dr. Sami also referred that registration to buy the housing units will be electronic as a link will be found on the NIC website that is devoted for this purpose and contains all information regarding this project so as to avoid any problems that could happen during the registration process, while the application format will be sent to all ministries and Baghdad Governorate to know the number of people willing to buy these housing units.
And about the implementation periods and costs of these housing units, NIC Chairman made clear that Iraqi citizens will be able to live in this city in the third year of implementing the project when the first (20-25) thousand units will be ready while adding (20-25) thousand housing units yearly until completing the whole 100 thousand units agreed upon with simultaneously completing the services, commercial, entertainment and educational institutions needed.
Mr. Hyun- Chung Kim, Vice Chairman and CEO of Hanwha Engineering and Construction Co. said in his turn that exceptional and special efforts had been done since signing the agreement until finalizing the fundamental designs of the project as the company had assigned a specialized work team for this project that consists of 100 engineer in several fields and he also assured that the company is keen to construct the housing units according to the accredited international standards .
Worth mentioning that the contracting procedures for the project will be guarantying the two sides rights while the citizen’s right will be guaranteed through a detailed contract and all information about the project will be available for the public through the media campaign which will start soon for the project that is considered the first international contract of this size in Iraq.

During his Meeting with the PICs Chairmen
NIC Chairman Stresses the Importance of allocating the Lands required for the One Million Housing Units Project

NIC Chairman, Dr. Sami Al- Araji gave his directives to the PICs chairmen to accelerate finalizing all technical requirements for allocating the lands needed to implement the project of building the One Million Housing units all over Iraq according to the available lands in each province.

The directives came during the meeting headed by Dr. Sami and attended by PICs chairmen referring that NIC had completed all technical requirements to start the construction of 200 thousand housing units 100 thousand units of which in Bismaya which shall be implemented by Hanawa South Korean Company as an electronic program had been prepared to register people willing to buy these units which shall be announced soon by NIC.

While the second site will be in Basra (Tanooma) of 100 thousand housing units to be implemented by “Track” South Korean company where all technical requirements regarding the soil surveys and final designs had been obtained referring that the NIC is going forward in implementing the other provinces quota of the One Million housing Units Project.

In the other hand, NIC Chairman stressed the importance of finalizing the investment map update by the team assigned for this task aiming at specifying all investment opportunities especially the strategic ones in a way that make them ready to be internationally prevailed.

Regarding the investment law and requirements of the coming stage, NIC Chairman clarified that suggestions for amending some of the investment law provisions and Statute (7) will be submitted in order to save the rights of the state and investor and to help in finding the suitable legal compromises to avoid overlapping between the current valid laws which contradicts in some of its issues the investment law.

Dr. Al- Araji listened to a number of suggestions and opinions by PICs chairmen regarding the investment in various sectors promising to eliminate all obstacles hindering the implementation of investment projects all over the country.

Under the patronage of Prime Minister Mr. Nouri Al-Maliki
And
Aiming at attracting investments in to Iraq
The National Investment Commission Holds the Iraqi – Iranian business and investment Forum

Under the patronage of Prime Minister Mr. Nouri Al-Maliki, NIC held the Iraqi – Iranian business and investment Forum for the period of 6 – 07/07/2011 in the presence of more than (170) company and a businessman specialists from the Iranian side and more than two hundred and fifty companies and businessmen from the Iraqi side.
The Prime Minister Mr. Nouri Kamel al-Maliki in his speech during the Forum said that the convening of this meeting is a clear message announces the beginning of a new phase of bilateral equal and integrated relations between the two countries, particularly that Iraq and the Islamic Republic of Iran have the economic, public, scientific and historical weight which makes them responsible of supporting the process of stability and security in the region.
Al- Maliki called the two conferring sides to accelerate seizing opportunities for cooperation that can be set up for this meeting, pointing out that the investment environment in Iraq has become appropriate through the issuance of legislations and laws that guarantee the investor and corporate work safety and success and legal profit, while continuing providing the legal and legislative measures amendments to ensure reconstruction process and the entry of companies.

For his part, Dr. Sami al-Araji, Chairman of the National Investment Commission announced in his opening speech (11) economic hub for joint cooperation between the two countries and in different sectors are divided into (electricity, housing, industry, tourism .. etc.), stressing that this forum will be the beginning of the distinct and significant relationship between the two countries at both the private and investment partnerships.
He explained that the Commission has provided the options available to forms of investment for companies in Iraq and Iranian businessmen and with the participation of the private sector or with the public sector or direct investment or cooperation on the basis of materials supply.
He also declared that the next few years will witness different investment partnerships between Iraq and the specialized companies in Iran, calling at the same time to exploit those opportunities to build up serious partnerships in all sectors.
To the expectation of the President of the supreme body for the development of economic relations between Iran and Iraq Hassan Kazemi Qomi, the total volume of trade exchange between the two countries during the present yea to 20 billion dollars after reaching $ 6 billion last year, stressing that this increase is the result of the development of relations between the two countries, particularly the economic relations.

Qomi expressed his country’s readiness to support and encourage the Iranian private sector to enter the Iraqi market and the creation of investment partnerships with the Iraqi counterpart in various economic sectors, including construction of plants for electric power generation of 5000 MW capacity and the construction of housing units and rehabilitate and develop institutions of the industrial, oil, and agriculture sector.
The head of the Federation of Iraqi Chambers of Commerce, Mr. Jaafar al-Hamdani, had confirmed in his speech that this forum is a great opportunity for Iraqi companies to enter into agreements with their Iranian counterpart and to create conditions conducive to their advancement to be strategic partnerships, especially since the Iranian companies were able to accomplish many projects at the level of the Islamic Republic and regional states and internationally.
As the president of National Business Council of Iraq, Mr. Ibrahim Al-Baghdadi to establishing joint Iraqi – Iranian Council to take over the support and care of the private sector and investment in both countries, similar to the rest of the joint councils with friendly countries, emphasizing the desire of the Council, which includes a group of businessmen in Iraq, in cooperation with Iranian companies in different investment forms and in all economic sectors, whether on the basis of long-term cooperation or any other type of partnerships.
The first day and second of the Forum witnessed organizing workshops that represented (11) economic hubs which focused on important sectors of common interest between the two sides, these workshops were held with representatives from the private and public sectors in both countries for each sector.
The Forum was ended in the second day with announcing the final statement which confirmed that there are several memorandums of understanding had been agreed upon between the two sides and in different sectors and there will be a review and assessment of these notes and evaluation will be from the date of completion of this Forum in two phases after the first three months and the second end of the this year and so the two sides will evaluate the memorandums that shall be implemented and those are in progress or which have not been implemented to determine the reasons and obstacles that have prevented the implementation.
The statement added that it is hoped that an investment conference will be held in the capital Tehran, Islamic Republic of Iran during the month of April or May of next year, which will be complementary to the recommendations and accomplishments this current forum.