NIC Chairman Meets with the South Korean Minister of Economy
NIC Chairman discusses with the South Korean Minister of Economy investment projects of mutual interest
The Success of the Investment Process in Iraq is Subject to Unifying all National Efforts
NIC Chairman, Dr. Sami Al- Araji:
The Success of the Investment Process in Iraq is Subject to Unifying all National Efforts
NIC Chairman, Dr. Sami Al- Araji stressed the necessity of unifying all national efforts in all sectors to make the investment process in Iraq a success referring that the NIC had worked since it had been established to attract foreign direct investments in to the country and to achieve real partnership between Iraqi Public and private sectors with developing the private sector abilities.
Dr. Sami also added, in the speech he gave during the conference of “Business for Business” held in Baghdad university, that NIC is keen to attract investments in various sectors to push the Iraqi economic wheel forward and keep abreast of the global economy.
Al- Araji referred to some challenges that hinder achieving goals, assuring that the commission is working to remove them all and especially the problem of land allocations in addition to the importance of activating the role of the provincial investment commissions and ensuring their independence.
He also announced that NIC had adopted huge investment projects like the project of the One Million Housing Unit hoping that the next months will witness the implementation of this important project.
Al- Araji also listened to a number of interventions from businessmen and specialists who attended the conference where ideas and opinions were exchanged concerning improving the national economy.
On the other hand, NIC chairman visited the exhibition held on the sidelines of the conference saying that the participation of international companies in such conferences and exhibitions in Baghdad has significantly good indications and reinforces economic relations between Iraq and the international community.
Basra Investment Commission Grants 12 Investment Licenses during 2010
Basra Investment Commission Grants 12 Investment Licenses during 2010
Chairman of Basra Investment Commission said that the commission had granted 12 new investment licenses during 2010 which is the same number of projects licensed in 2009 but differ in terms of capitals invested.
Haidar Ali showed that investments movement was successful and recognizable in Basra during 2010 especially after starting the implementation of several Strategic projects in various sectors, he also added that the housing projects value had exceeded 500 Million dollar while the value of industrial projects was more than 245 million Dollars in addition to small projects.
Babil Investment Commission is Aiming at Contracting with American Company to Buy Power Generators
Babil Investment Commission is Aiming at Contracting with American Company to Buy Power Generators
Babil Investment commission announced the intention to contract with Fidelity International American Company to provide the province with 70 power generators on investment basis.
Chairman of Babil Investment Commission said that the provincial government had directed during the meeting with the energy committee and the investment commission to contract with the American Company to provide 70 Caterpillar power generators of 350 MW capacities each.
He also referred that the American Company will undertake the responsibility of installing the generators all over the province clarifying that the committee formed for this purpose will specify consumption prices as soon as installation is complete.
87 investment license of 3, 5 Billion Dollars Capital in Baghdad
87 investment license of 3, 5 Billion Dollars Capital in Baghdad
87 investment licenses had been granted by Baghdad Investment Commission during the last thirteen months, total capital of the licensed projects reached 3, 5 billion dollars and would provide about 350 thousand job opportunities for Iraqis.
Baghdad Investment Commission Chairman, Mr. Shaker Al- Zamily said that the commission had granted 13 license in construction sector that consist of 17 project for constructing 120 thousand housing unit adding that 7 licenses had been granted for industrial projects, 3 for medical care and commercial projects and one for agricultural project.
Al- Zamily referred that these licensed projects will provide about 350 thousand job opportunities the matter that will reduce the pressure put on the government, urging all ministries to activate investment projects.
Al- Zamily also assured that Baghdad will be an attractive center for investment in the region during the current stage especially after the chaos witnessed by several Arab capitals.
NIC Urges PICs Chairmen to Contribute to Update Information Contained in the Investment Map
NIC Urges PICs Chairmen to Contribute to Update Information Contained in the Investment Map
NIC Advisor, Mr. Abdullah Al- Bander urged the PICs chairmen to contribute to update information contained in the investment map so as to enable the National Investment Commission to prepare the new investment map that covers all sectors in all provinces in a way that clarify economic visions and available investment opportunities in order to facilitate the opportunity selection for investors
Mr. Bander also said during the third meeting for the investment sector team, one of the seven teams that make up the team of Economic reform in Iraq led by UNDP and UNIDO, that the investment map must be based on accurate economic bases in order to ensure a successful investment process referring that investment is a new experience in Iraq guaranteed by investment law No. 13 for the year 2006 and it had been set on to keep pace with the global economic bases.
Mr. Bander added that investment is one of the most important factors that might develop the private sector capacities since it represents a new economic variable within the economic reform process adopted by the state stressing that the country is in need for huge investments for the advancement of infrastructure and that the private sector is capable of covering such requirements.
NIC Chairman discusses a project of Unifying Investment Licenses in all Provinces
In a Meeting with the Chairmen of the PICs
NIC Chairman discusses a project of Unifying Investment Licenses in all Provinces
NIC Chairman, Dr. Sami Al- Araji put forward the idea of unifying the investment license template to be granted to investors in all provinces while excluding the NIC template the matter which comes within the framework of systemizing the process of granting the investment licenses and facilitating the role of other relevant departments especially that of the State Customs Commission.
The new license template was discussed during a meeting headed by Dr. Sami and attended by PICs chairmen, Dr. Sami also gave his directives to accelerate the process of allocating lands required for implementing investment projects in all provinces in order to enable investors to commence their projects especially the project of the One Million housing Unit to be implemented all over Iraq .
In terms of updating the provincial investment maps, Dr. Sami referred to the importance of taking privacy and economic hubs in to consideration in drawing the investment map for each province with including the appropriate projects for the province nature and requirements.
NIC Vice Chairman Speech on the Conference of the Central Plan of the Ministry of Electricity in Istanbul
NIC Vice Chairman Speech on the Conference of the Central Plan of the Ministry of Electricity in Istanbul
The importance of the electricity sector is a well-known fact to all of us. This sector is in dire need of major reform in order to create a new reality in Iraq. Electricity is not only important for the welfare or our people, but it is one of the main pillars for attracting mega investment projects and economic transformation.
There are many challenges facing this sector today. They include deteriorating power generation units and distribution networks both in quality and quantity, shortage of water and its impact on operating the hydroelectric stations, the challenges in meeting the environmental requirements particularly for the old projects, the shortage of skilled labor, and the difficulty in meeting the financial obligations that are hindering the execution of the government investment plans.
In cooperation with the different ministries and the ministry of electricity in particular, the National Investment Commission worked on including the sectoral investment opportunities which were updated twice during the last year. This investment map is used to promote the investment opportunities through conferences and meetings held by the Commission in Iraq and aboard. We are focusing on the great incentives offered by the investment law 13 of 2006 and its amendments No. 2 of 2010
NIC Chairman Meets with the Canadian Charge De Affairs and the Chairwoman of the Indonesian National Company for Oil and Gas
NIC Chairman discusses with the Canadian Cahrge De Affairs investement projects of mutual interest and meets with the Chairwoman of the Indonesian National Company for Oil and Gas.
NIC Vice Chairman a Specialized Committee to promote Agricultural Lands Offered for Investment
During His Meeting with the Deputy Minister of the Ministry of Agriculture
NIC Vice Chairman a Specialized Committee to promote Agricultural Lands Offered for Investment
Mr. Salar Muhammed Ameen, NIC Vice Chairman met with Dr. Ghazi Al- Aboody, Deputy Minister of the Ministry of Agriculture at the NIC premises on February 8.2011.
During the meeting, the two high officials discussed means of developing the Agricultural sector and preparing lands ready for investment
.
NIC Chairman informed the Media Office within the commission that a joint committee formed of representatives from the NIC and the Ministry of Agriculture shall be named to prepare for the agricultural conference which shall be held within the next few months and attended by specialized companies in agriculture sector to promote agricultural lands specified for investment.