Investment Opportunities in Shopping Centers

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Announcement
Investment Opportunities in Shopping Centers

According to the investment conference held with the attention of respectable Minister of Trade and referring to the discussion of the investment opportunities held at 1L6L2011.
The State Company for Shopping Centers / Ministry of Trade is pleased to invite national, Arab and foreign companies specialized in the design, construction and management of modern malls to indicate their interest in investment for the estate lands mentioned in the table shown below:
No.
The Location and Type of the estates
Details & Description
1-
Al- Amel Shopping Center which is situated at !- Karkh in Baghdad Governorate
It is an empty piece of land of total area of 9 Dunam, 22 Ulke , fenced and situated in Al- Amel city
2-
Al- Thulatha Shopping Center wich is situated at al- Rusafa in Baghdad Governorate
Total area of 13 Dunam, 15 Ulke and 92 M²
3-
Al- Mustansyria Shopping Center which is situated in Baghdad Governorate,
(Damage percentage: 100%)
Total area of 14 Dunam, 4 Ulke and 44, 72 M².
The building is consisted of 4 floors with a crypt.
4-
Al- Salihia Shopping Center which is situated in Baghdad
(Damage percentage: 40%)
Total area of 4 Dunam, 9 Ulke and 55, 10 M².

5-
Al- Shaab Shopping Center which is situated at Al- Rusafa in Baghdad.
(Damage percentage: 50%)
Total area of 10 Dunam, 15 Ulke and 65 M².
The building is consisted of 4 floors with a crypt.
6-
Al- Adel Shopping Center which is situated at Al- Adel city in Baghdad
(Damage percentage: 40%)
Total area of 9 Dunam and 11, 5 M².
The building is consisted of 4 floors.
7-
The Duty Free Shopping Center which is situated at Al- Rusafa in Baghdad
(Damage percentage: 50%)

Total area of 4 Dunam, 6 Ulke and 25 M².
The building is consisted of 4 floors with a crypt.
8-
Um Al- Broom square at Basrah Governorate – Al- Ashar
Total area of 3 Dunam, 18 Ulke and 54 M².

9-
A piece of land that is situated at Babylon Governorate
Total area of 3 Dunam, 12 Ulke and 50 M².

– The offers of investment for the above shopping center must comply with Iraqi investment law No. 13/2006 as amended and the state companies law No. 22/1997 as amended and the companies have to present illustrated, complete offer according to the following terms and conditions:-
1- To present technical offer clarifying the construction, diagram, sketches and site plan for the dimension of the exploited area from the land and also to present the diagram of the architectural frontage and details of available spaces for the projects floor.
2- To present a commercial offer covering the total cost of the project and the expected financial revenues and percentage specified for the ministry.
3- To specify the number of employees the investor will keep of the original number working in the shopping center.
4- The companies must present a separate design for each site (shopping center) or one of them as well as the assistant additional attachments like restaurants, entertainment centers, conference halls, parks and garages based on the designated areas above.
5- The companies must present a record of similar works and to have high experience in achievement of such (malls, which has been designed, constructed, managed or owned) by them confirmable by authenticated official letters issued by specialized institution.
– Also to present a confirmable bank document proving their financial ability issued from an international first class bank or from a local bank accredited by Iraqi Central bank.
6- To present schedule for the execution of the investment plan proposed by the company and to specify the period of the investment in their commercial offer.
7- The companies must present their offers within a period not exceed the end of the official work time of Monday, 1.Aug.2011.
For more information, please contact the web site of Ministry of Trade / State Company of Shopping Centers as mentioned below…with our best regards.

NIC Chairman Discusses Means of Cooperation between Iraq & UK

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At his Meeting with Member of the British House for Commons, Nadhum Al- Zahawi
NIC Chairman Discusses Means of Cooperation between Iraq & UK

NIC Chairman, Dr. Sami Al- Araji discussed means of cooperation between Iraq and UK and the possibilities to benefit from the experiences of British capitals and companies and attract them to invest in Iraq.
That was during his meeting with Mr. Nadhum Al- Zahawi the member of the British House of Commons, the British of Iraqi origin. Dr. Sami assured that being Mr. Zahawi an important member of the economic committee in the British Parliament the matter that made his high profile business connections very wide will contribute to supporting the investment process in Iraq through giving the required guaranties for international banks to enter Iraq.
Mr. Zahawi in his turn said that the confidence in Iraqi economy is an important issue for the international companies, that’s why Iraq should adopt a reliable program in this regard, assuring that his negotiations during the last two days with concerned sides in Iraq will help him to come up with a clear business plan for the economic cooperation between the two countries and the role of businessmen of both sides.
Regarding the project of the One Million housing Unit, one hundred thousand units of which had been rewarded to Hanwah Korean Company to be built in Baghdad out of Baghdad’s 224 thousand units quota of the whole project, NIC Chairman assured that the next few weeks shall witness extensive discussions regarding the technical, economic and legal details of the project and requirements for implementation within the specified time, he also added that an experienced Korean technical delegation will arrive Baghdad soon to start the surveying works in the 8000 Dunam land where the project will be implemented.
Meanwhile, NIC Chairman assured that the commission will start distributing application forms for Iraqi people willing to obtain housing units of the areas specified as (100, 120, 140 M²) which will be sold according to two manners, the first is represented by paying the whole money in cash while the second manner is represented by paying by installments according to details to be discussed later.

NIC Participates in the Works of the Investment conference for Iraqi Shopping Centers and Fairs

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Aiming at Establishing Internationally competing Shopping Centers
NIC Participates in the Works of the Investment conference for Iraqi Shopping Centers and Fairs

Ministry of Trade in cooperation with NIC held the first investment conference to announce investment in Iraqi shopping centers and fairs within its investment plan for 2011 according to investment law No. 13 for 2006.
Minister of Trade, Dr. Kherallah Hasan Babker and in his speech during the conference, he assured that investment is considered one of the most important factors that can revive economy adding that the Ministry was keen to open doors for investments and attract capitals with planning a policy for economic reform aiming at following the market policy and achieve the goal of partnering with the private sector and support investment in the fairs and shopping centers.
NIC Vice Chairman, Mr. Salar Muhammed Ameen in his turn and through his speech in the conference, called for specialized Iraqi, Arab and Foreign companies to invest in Iraqi shopping centers and fairs and change them into internationally styled ones.
He also added that NIC is always working to create various investment opportunities in different sectors through applying provisions of Investment law No. 13 for 2006 and its amendments which guarantee all facilities and incentives for investors.
Deputy Minister of Trade, Ms. Suwaiba Zangana submitted a detailed presentation of the investment opportunities announced which included several shopping centers in addition to Baghdad International Fair building where the Ministry wish to build new modern exhibition centers, five stars hotels and shopping malls to be constructed according to modern international specifications.
Ms. Suwaiba clarified that the Ministry will allow investors to present their offers within two months from the date of announcing these opportunities in order to submit their commercial and technical offers and the Ministry in turn will select the best offers according to negotiations and contracting mechanisms and restrictions adopted.

Tender 1.2011 Closing Date Postponement

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NIC is announcing postponing the closing date for the Tender numbered ((1/2011)) that includes ((Constructing the NIC complex)) in to 2:00 pm of Sunday 26.Jun.2011 instead of 14.Jun.2011 and the winner shall bear the cost of publication and announcement.

NIC Increases Efforts to Facilitate Work of Investment Companies in Iraq

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By cooperating with the Sectoral Sides in the Iraqi Ministries
NIC Increases Efforts to Facilitate Work of Investment Companies in Iraq

NIC assured increasing efforts to provide all requirements needed for the success of investment companies that are granted investment licenses to implement a number of projects in Baghdad and other provinces, by cooperating with the concerned sides in the Iraqi Ministries and embarking on the reasons behind delaying the work of these companies and finding the right solutions for solving problems.
An NIC reliable source said that the commission is following up with the sectoral sides in the concerned ministries to obtain their opinions regarding the investment projects presented to them and which had not been approved yet to be started, periodic meetings are always held with the Ministries representatives urging them to give priority in granting approvals to the investment projects sent to them by NIC and other provincial investment commissions especially that these projects are linked to providing general services for Iraqi people and contributing to decreasing the unemployment rate in Iraq.
The NIC source also added that the commission is continuing the cooperation with Baghdad Mayoralty and provincial municipalities in order to resolve the investment projects designs submitted by investors in addition to following up land allocation issue with the concerned sides so as to get investors ready to implement their projects.
The One Stop Shop Directorate within NIC is working hard to provide the best services to investors and facilitate the procedures of granting the investment licenses through following up the licenses requirements with the NIC departments and concerned ministries without having to follow things up by investors themselves in order to minimize red tape and shorten the time needed to grant the license in addition to finalizing all procedures in one single easy accessed place with answering all enquiries regarding investment in Iraq and providing important pre investment information like (Market data, incentives, local partners) and post investment services like facilitating the process of importing equipments and raw materials needed for the project.

NIC Continues Cooperation with the Ministries of Health and Industry to Rehabilitate a Number of their Companies through Investment

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Aiming at Reinforcing cooperation with Ministries in Investment Field
NIC Continues Cooperation with the Ministries of Health and Industry to
Rehabilitate a Number of their Companies through Investment

NIC assured continuing cooperation and coordination with the Ministries aiming at defining investment opportunities in all ministries in order to be listed within Iraq Investment Map which NIC is keen to complete its updating soon in coordination with the concerned sides.
An NIC reliable source said that the Ministry of Industry & Minerals is one of the ministries that are seeking to rehabilitate their companies through investment aiming at reactivating the Iraqi industrial sector, MIM presented some of investment files for some of its companies some of which had already been rewarded for investors when NIC role was represented by attracting international companies and presenting the available investment opportunities with ensuring direct meetings between the two sides as a prelude to creating economic partnerships.
The NIC source also added that the commission is coordinating with MIM to present another set of investment files of the ministry companies within the updated investment map for Iraq, benefiting from the law of the General Economic Reform which had been approved by the Council of Ministers in the beginning of this year which will regulate the process of entering foreign investors in strategic partnerships with the public sector to rehabilitate the state enterprises clarifying that the industrial companies which are to be listed within the investment map as new investment opportunities will represent several sectors like (Chemical and Petrochemical, Constructional, Textile, Food and Medicine).
In regards of cooperation with the ministry of Health, the source said that NIC had formed a joint committee with the Ministry of Health to discuss investment opportunities in this sector and the possibility of implementing investment projects by well known international companies adding that the committee directed the provincial investment commissions to provide NIC with the available investment opportunities in the health sector in order to be classified according to each province need with preparing the legal frameworks for partnerships between the Ministry of Health and investor in the state companies announced for investment.
Ministry of Health also seeks to implement a number of new investment projects in Baghdad and provinces represented by constructing specialized general hospitals, pharmaceutical factories, multipurpose laboratories and developed diagnosis centers.

NIC Chairman Announces the Establishment of the Iraqi- Czech Joint Business Council

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Under the Patronage of H.E Prime Minister Nuri Al- Maliki
NIC Chairman Announces the Establishment of the Iraqi- Czech Joint Business Council

H.E Prime Minister Nuri Al- Maliki assured the serious desire of the Government of Iraq to reinforce means of cooperation with the Czech Republic on all levels considering this visit as a qualitative change in bilateral relations that can open cooperation gates in many fields to be reinforced by a high level Iraqi delegation visit to Czech republic.
This came during the works of the Iraqi- Czech Business and Investment Forum held in Baghdad during the period 23-24. May.2011 when the Iraqi Prime Minister assured that the government of Iraq is working hard to create attracting investment environment that is special in the region through preparing all security, legislative and logistic arrangements.
The Czech Prime Minister in his turn assured his country’s readiness to provide technical experiences required in all economic fields especially with the distinguished position Czech Republic is occupying now within the European Union and the world.
The Czech Prime Minister also stressed the readiness of the Czech companies to enter the Iraqi market with the most updated technologies that can solve a number of problems that are facing the Iraqi economy after having an agreement between the two sides, he also added that Iraq and Czech had passed through the same path for freedom and democracy, the matter that will widely open the doors between the two countries with the support of the two governments.
NIC Chairman, Dr. Sami Al- Araji announced the establishment of the Iraqi- Czech Business council on the sidelines of the discussions made during the enlarged meeting between the Iraqi and Czech businessmen aiming at fostering the economic relations between the two countries in a way that serves concluding economic partnerships.
NIC Chairman presented during the forum the available investment opportunities in Iraq in ten economic sectors (Oil & Gas, Industry, Agriculture, Housing, Telecommunications, Education, Health, Electricity, Transport and Tourism), he also explained the investment formats adopted in Iraq which includes direct investment according to investment law No. 13 of the year 2006 and its amendments or the partnerships between Czech companies and businessmen on one side and Iraqi public and private sectors on the other side in addition to the partnership between the Iraqi and Czech private sectors to participate in the economic reform process of the public companies.
NIC Chairman also said that Iraq is trying to follow the Czech Republic experience in transferring to the market economy as Iraq is experiencing today a big experiment in this direction through issuing laws, instructions and statutes in order to transfer from the authoritarian economy into the market economy within a specified period of time.
On the sidelines of the forum, a series of economic meetings between businessmen from both sides were held while the major event was attended by the Czech Minister of Industry and Trade.

NIC Chairman Signs a project of Constructing 100 Thousand Housing Unit in Baghdad

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With The Attendance of HE Prime Minister Nuri Al- Maliki
NIC Chairman Signs the Deal of Constructing 100 Thousand Housing Unit in Baghdad

Iraqi Prime Minister HE Nuri Al- Maliky assured his desire to see the implementation of the project as soon as possible in order to build one million housing units and to perform major projects in other fields.
The Prime minister’s speech came during signing the agreement of building 100 thousand housing units in Baghdad with Hanwah Engineering & Construction this last Wednesday.
NIC Chairman in his turn Dr. Sami Al- Araji, who signed on behalf of the Iraqi side, said that signing this contract is the beginning of the project of building one Million housing units throughout Iraq, the agreement which was supported by the recent visit of Prime Minister Maliki to South Korea
Dr. Sami added that this project will begin soon in the land that had been allocated for this purpose in Bismaya (south east of Baghdad) and covers part of the share of housing units allocated to Baghdad which is 224 thousand of the total one million housing units. He stressed that this project will house approximately 600 thousand residents and will provide them with all the services.
Mr. Hyun-Chung Kim, CEO & Vice Chairman of Hanwha expressed his great satisfaction with the signing of this agreement and affirmed that work will begin immediately at the site.

NIC Hosts a Workshop to Improve and Regulate the Electricity System in Iraq

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In Coordination with the Ministry of Electricity and a Number of Energy Specialists
NIC Hosts a Workshop to Improve and Regulate the Electricity System in Iraq

A workshop to improve and regulate the electricity system in Iraq was held in the NIC premises in Baghdad on the 16th of May 2011 in coordination between the Ministry of Electricity, the NIC, USAID and the Economic section in the US Embassy.
The workshop works was opened by a speech for the Minister of Electricity Mr. Raad Shalal through which he presented his Ministry’s central plan for the years 2011-2015 for comprehensive and central reconstruction process of electricity system that is compatible with global standards with a clear vision for the needs and priorities of the electricity sector on the short and long runs explaining that this plan is depending on two key sectors, the first is represented by rehabilitating the working power producing stations while the second is concentrating on constructing new power stations (Gas, steam and Diesel).
Minister of Electricity also mentioned that in order to treat the current shortage in supplying the electrical power for consumers the Ministry had laid down an urgent plan to insert 5000 MW of diesel units to be operating during the 2012 summer, hoping that establishing these units will provide additional six hours of power supply to reach the extent of supplying 16 hours/day by 2012.
NIC Chairman in his turn assured that the electricity sector is a key vital one and there are different visions of how to run it economically and administratively within the state trends of adopting the market economy.
In this context, NIC had always been careful to host the elite of those concerned in the Ministry of Electricity, USAID and the economic section in the American Embassy in order to discuss how to make real development whether in administrative or economic side to ensure reaching the citizens’ actual need noting that this project is the start that will take several years and that reforms had started in production and have to extend to include transmission and distribution of power.
Mr. Adel Hameed, the MOE advisor assured that the Ministry had announced its investment plan that aims at adding 2750 MW for locations in Shat Al- Basra, Umara, Samawa and Diwania, in this concern, efforts had been done in cooperation with NIC and the Ministry is in the process of announcing the wining offers as the forthcoming short term will witness announcing the final candidate for each station of the four.
On the same context, Mr. Allen Aisne, the USAID expat presented some of the forms globally adopted and suggested to improve electricity sector in Iraq which include establishing new governmental departments for electricity and privatization according to six years administrative contract to overcome the electricity shortage with adopting some of the competitive forms that had succeeded in a number of the world countries referring in the same time to the importance of taking in to consideration some important points in improving the electricity sector like the computerized system of price determining in addition to examining the individual purchaser system adopted all over the world.
The meeting was also attended by Mr. Dell Abler, the economic council in the American Embassy in Baghdad.

Baghdad Investment Commission Lays down the Foundation Stone for Baghdad Investment Resort

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Baghdad Investment Commission Lays down the Foundation Stone for Baghdad Investment Resort

Under the patronage of HE Prime Minister- Mr. Nuri Al- Maliki and with the attendance of the NIC Chairman and members of Baghdad Governorate and Baghdad provincial office, foundation stone for Baghdad investment resort In Dura City in Baghdad which shall be implemented by Abrain company in cooperation with the International Group for Constructions, the project capital is 120 Million $ to build 960 housing unit to be implemented within 3 years.
Dr. Sami Al- Araji, NIC Chairman mentioned in his speech that Baghdad is witnessing new project of the projects that are to be implemented through Baghdad Investment Commission within the efforts of supporting the economic development in the country.
Mr. Shaker Al- Zamily- Chairman of Baghdad Investment commission said in his speech that it is known for all, the bad situation that Iraq had passed through during the last years and especially the capital – Baghdad – as changes the country had experienced after the war were many and that what had enhanced the Iraqi government to go ahead with the reconstruction process and will had been achieved to step good steps in the development process especially in the way that serves the investment process in Iraq as several laws and regulations had been legislated, which aim at gearing up with the Iraqi people life, like the investment law and the short, medium and long term plan laid by the National Investment Commission which includes preparing the lands suitable for each investment project especially those for the housing sector as six locations had been allocated during the last weeks and preliminary works had begun.
The project shall be implemented on 120,000 square meters and considered the first of its kind in the capital for its integration in terms of all facilities and being connected to all urban centers of the capital. The project also has economic, social and technological importance as it is targeting all segments of Iraqi society which is considered a very important investment experience since it represents a new breakthrough in development and real estate investment with efficient commercial leaderships on high level of experience.
Baghdad Investment Commission seeks to develop all sectors especially the housing sector which had been paid lots of attention by the commission who granted many licenses for constructing new housing units.