During the Conference of Investment Business
NIC Presents a Presentation on Investment Climate in Iraq

NIC participated through a specialized delegation headed by the Commission’s economic advisor in the conference held in the Netherland’s Chamber of Commerce with the participation of a number of investors and businessmen and companies specialized in sectors like (Housing, Agriculture, Industry and Tourism), the conference was also attended by the Iraqi Ambassador in Netherlands and the Netherlands Ambassador to Baghdad. Investment Climate in Iraq was reviewed during the meeting including the most important available investment opportunities in Iraq, Investment law No. 13 for the year 2006 was also made clear during the conference in addition to explaining the statute No. 7 for the year 2010.
The initiation of holding such a meeting was highly welcomed by the Dutch companies which did not know anything about the investment climate in Iraq and many of these companies showed the willingness to have more details about the available investment opportunities in Iraq in order to be able to enter Iraqi market to invest.
The Iraqi Ambassador to Amsterdam and the Dutch Ambassador to Baghdad highly appreciated the NIC participation which contributed a lot to make the meeting a success which had lasted for 2 days form 11th -12th .Apr.2011.

During Heading the Investment and Trade Forum for Supporting the Private Sector
NIC Chairman .. We work to Create Economic Partnerships between Iraqi Public and Private Sectors

NIC Chairman, Dr. Sami Al- Araji assured that the commission is working hard to motivate the self funded productive sector to be companies ready to compete after rehabilitating and restructuring these companies in order to support the Iraqi private sector to take its important role.
He added, during the opening remarks of the Investment and Trade Forum on the 9th of

April.2011 organized by NIC in cooperation with the Iraqi National Business Council through
which NIC hosted the elite of the Iraqi businessmen residing in UAE (the Iraqi Business Council in Abu Dhabi), that There are a number of fundamental bases which are worked on heavily and continuously represented by implementing the huge development plan first laid down after 2003 that concentrates on how to achieve integration between the country’s resources and what kind of investment could be attracted to reconstruct the country in harmony with the five year plan 2010-2014 which concentrates on infrastructure and the main economic development projects which estimated cost is 186 Billion $, 100 billion $ of which had been allocated from the capital budget (Oil revenues) while 86 billion $ cost projects will be announced for investment in different forms. Dr Sami also referred to the investment map which NIC is serious to update for the third time with the intention to make the updates in a half yearly manner to monitor all developments assuring the importance of reconsidering the concept of small and medium industries and ways of financing them and how it resurrect the idea of establishing (Investment Fund) adopted in many countries especially oil producing ones.
Mr. Ibraheem Baghdadi, Chairman of the Iraqi National Business Council referred, in the speech he gave during the Forum, to the development touched in the investment process in Iraq and the big opportunities offered to investors in various fields which makes it a successful experience especially after the courageous decisions ratified by the Ministers Council and the Parliament helped by NIC and INBC
Vice Chairman of Economy and Investment Committee in the Iraqi Parliament, Mr. Muhammad Salman Al- Saady presented the most prominent features of the new economic philosophy which gives the private sector high importance in the economic process through the articles of the Iraqi constitution which guarantees the reform of the Iraqi economy according to modern economic basis, assuring that the economic and investment committee in the Parliament works in an organized way with the executive sides in charge of investment file in Iraq especially NIC in order to specify laws and legislations that put obstacles in the way of investment in order to reform them and submit them to the Iraqi Parliament to be ratified in a way that serves to make the Iraqi investment process a success.
On the sidelines of the second session of the Forum (the Ministry of Trade role in supporting the private sector) Mr. Ali Al- Dabagh said that the government is paying special attention to the Iraqi private sector to make it a strategic partner in the investment process and not only an agent or service provider encouraging the idea of establishing investment funds since it will represent savings that contribute to bridging the deficits in the important economic fields.
NIC Chairman presented during the works of the first session of the Forum the investment opportunities available in Iraq and the possibility of participating in these opportunities in 10 vital sectors (Oil & Gas, Industry, Agriculture, Telecommunication, Transport, Education, Health, Housing, Infrastructure, Electricity and Tourism) in addition to that a presentation of the valid laws and legislations was also given .
Worth mentioning that two of the members of the Iraqi Parliament Dr. Salman Al- Musawi and Mr. Ibraheem Al- Rikabi attended the Investment session while the second session was attended by the member Abdul Abbas Al- Saaedy and Ms. Suwaiba Zangana, Trade Deputy Minister.

During His Meeting PICs Chairmen and Representatives
NIC Chairman Assures the Necessity of Establishing a Unified Vision for Investment requirements in Iraq

NIC Chairman Dr. Sami Al- Araji assured the necessity of establishing a unified vision and a clear picture for the investment requirements in each province through continuous coordination between all concerned departments in the province represented by the provincial councils and investment commissions and committees adding that investment is not a substitute for the capital budget but is a complementary and supporting to reach the desired goal.
He also overviewed during his meeting with the PICs chairmen problems and obstacles facing investment committees in the provinces with the suggestions to eliminate these obstacles assuring the importance of getting these committees acquainted with the investment plans in the provinces to show their opinions and submit the needed support since they are considered as part of the investment process.
Dr. Araji followed up the details of applying the first amendment (1) for the year 2011 on the statute of selling and leasing the state owned lands for investment purposes number (7) for the year 2010 after publicizing it to all PICs which includes possessing land for housing purposes by investor freely provided that the land value is not estimated when selling housing units to Iraqi people , while leasing state lands with tiny rates of its real value in other sectors the matter that represents encouraging incentive to invest in Iraq.
Within the framework of following up preparing lands for investment purposes, Dr. Sami made clear that NIC is currently following up problems that hinders allocating lands with the possessing sides and finding the suitable solutions for these problems according to the valid laws in coordination with the concerned departments represented by the Ministries of Municipalities and Finance referring to the meetings to be held in this regard as Mr. Saleh
Al- Mutlaq – Deputy Prime Minister will meet in the 11th of the current Month with the
attendance of the State Minister for Provincial Affairs and NIC chairman with the provincial investment commissions and committees, while another enlarged meeting will be held the next day with the Minister of Finance and other officials concerned with lands allocation issue in a serious step to solve all problems facing allocating lands for investment purposes.

Aiming at expanding Means of Economic Cooperation between the two Countries
NIC Chairman Receives a South Korean Parliamentary Delegation

NIC Chairman, Dr. Sami Al- Araji received Ms. Park Soon Ja, Member of the South Korean Parliament and head of the Iraqi- Korean Parliamentary Relations, and the accompanying delegation and discussed the possibility of reinforcing means of economic and investment cooperation between the two countries.
NIC chairman said during the bilateral discussions that Iraq is currently witnessing a huge economic movement for the enormous encouraging attractive investment incentives assuring that Iraq and South Korea always had good economic relations and that lots of Korean companies had shown their readiness to work in Iraq through diversified investment partnerships.
The head of the Korean delegation in her turn expressed her happiness with this meeting and the attendance of important members from the Iraqi Parliament like Mr. Muhammed Salman, Dr. Salman Al- Musawi and Mr. Ibraheem Al- Rikabi, and referred that the project of building One Million Housing Unit all over Iraq is a vital and important one for Iraq in one side and for the Korean companies in the other side for the positive impact it will leave on the cooperation prospects between the two countries.
The meeting was also attended by the South Korean ambassador to Iraq Mr. Park Soom Boom.

With the Attendance of the Deputy Prime Minister for Economic Affairs and a Number of Ministers
NIC Hosts Economic Negotiations with the Finland Delegation Headed by Minister of Foreign Trade and Development

Deputy Prime Minister, Mr. Rodj Nuri Shawees assured that Iraq is anxious to foster links of economic cooperation and trade in the fields of Housing, Industry, Agriculture, Health, Education, Trade and Telecommunication with the Republic of Finland.
Mr. Shawees said in a press conference held Wednesday 6. Apr.11 at the NIC premises, with the attendance of Mr. Paavo Väyrynen, Finland Minister of Foreign Trade and Development- Head of the Finland Delegation and Dr. Sami Al- Araji, NIC Chairman, that the negotiations made were about prospects of cooperation and facilities made available for investors in Iraq with the plan adopted to reconstruct Iraq as the Iraqi Government had shown its full readiness to submit the necessary facilities to encourage Finnish companies to launch the promising Iraqi market.
Head of the Finnish delegation in his turn expressed his happiness to reactivate the bilateral relations between the two countries assuring that Iraq has certain privacy and differs from Finland and they need new partnerships with Iraqi local private sector and sometimes with the public sector especially if the start would be in the industrial sector where the need for a partner would be critical.
In the same context, NIC Chairman clarified that the commission is currently working to submit all the required facilities for investors in the various fields in a way that contribute to reconstructing Iraq.
The meeting was also attended by the Iraqi Ministers of Trade, Transport, Telecommunication and Education in addition to Deputies, advisors and DGs in several other Ministries when prospects of mutual interest were discussed with the visiting delegation.
It is also worthwhile to mention that the Finnish delegation had included representatives of the Industries council, the Finnish Technological Industries Union and representatives of the biggest companies like (Nokia Siemens) and companies specialized in construction, agriculture, environment and climate monitoring.