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.

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.

A ceremony was held on the NIC premises in Baghdad to sign a MOU on economic development between Iraq and Germany; Iraqi side was represented by Mr. Rodg Nori Shawees, Deputy Prime Minister while the German side was represented by Mr. Dirk Niebel, German Minister of Economic Cooperation and Development.
H. E Mr. Rodg NOri Shawees had given a speech through which he welcomed the visiting delegation and stressed the serious desire of the Iraqi Government to reinforce the joint cooperation with Germany calling for the German companies to hasten their existence in Iraq for the good reputation these companies used to be enjoying in a way that serves developing means of economic, investment and commercial cooperation in all sectors between the two countries.
In the same context, NIC Chairman, Dr. Sami Al- Araji asserted that the signed agreement will enhance joint cooperation between Iraq and Germany and in the same time it represents the serious efforts to create sustainable economic partnership in various fields on both short and long terms, adding that the German side had proposed the idea of establishing what can be called the German House as an attracting center for the German companies to work in Iraq.
Dr. Sami also discussed receiving a bigger delegation of the German companies next March to complete the discussions series between the two countries stressing that NIC is welcoming all countries willing to cooperate with Iraq in economic and investment fields and ready to submit all facilities for the success of the agreement between the two countries.
The German Minister, in his turn had conveyed his gratitude and appreciation for the warm reception meant to the German delegation referring that Iraq must be a proud country for the democracy it is enjoying and for maintaining human rights and peaceful coexistence that ensure a strong cohesive society.
Head of the German Industries Union, a delegation member said that German companies are keen to work in Iraq and had shown his hope for this visit to provide the appropriate ground for joining the ongoing investment process calling for businessmen in both countries to exchange opinions and ideas in different economic fields to create a real partnership between the two sides.
Mr. Ibrahim Baghdadi- representative of the Iraqi private sector stressed in his turn, the desire of the Iraqi businessmen to open contact channels with the German side in all sectors.
Worthwhile to mention that the German Minister was accompanied by a delegation that included parliamentary and Economy figures in addition to several German media organizations representatives.

Aiming at Activating the Ministerial Representatives Role in Making the Investment Process in Iraq a Success
NIC Holds the Periodic Meeting for the OSS Sectoral Representatives

The periodic meeting for the OSS sectoral representatives was held within the NIC premises aiming at activating the role of the Ministerial representatives to make the ongoing investment process a success. The meeting was headed by Dr. Sami Al- Araji, NIC Chairman who had given his directives for the One Stop Shop Department to provide investors with all requirements needed to issue investment licenses within the period specified in investment law No. 13 for the year 2006 which is (15 days). NIC Chairman also said during the meeting that the OSS is relying on two bases in performing its duties, the first is the department’s employees and the other is the sectoral representatives stressing the important role representatives are required to act within their ministries in order to provide NIC with the technical information required to utilize investment opportunities in addition to the importance of obtaining the required authorities to get approvals on investment applications sent to their ministries. Dr. Sami also talked about the land allocation subject and the problems accompanying it which had been mostly solved after the issuance of the statute No. 7 for the year 2010 which had laid down new instructions for selling and leasing state owned properties for investment purposes.