• Chairman of the National Investment Commission heads a government delegation to the Kingdom of Saudi Arabia to discuss joint investment opportunities between Baghdad and Riyadh and to discuss the establishment of the Iraqi-Saudi company.
• The Iraqi delegation included representatives from the Ministries of Foreign Affairs, Oil, Electricity, Construction, Housing, Agriculture, Planning, Trade and the General Secretariat of the Council of Ministers.
• The delegation will discuss partnership paths developing investment sector in Iraq.
• Iraqi delegation is establishing agreements that grant investment and de3velopment projects a strategic dimension in implementing and simulating pioneer projects in the region.
• Iraqi delegation visit to Saudi Arabia id a step forward reinforcing trust in the national investment environment and encourage Saudi capitals and investors to invest.

NIC Chairman meets with the S.K Ambassador to discuss joint cooperation 

Chairman of the National Investment Commission, Dr. Haider M. Makiya, received the Ambassador of the Republic of South Korea to Baghdad, Mr. Choi Sung Soo, where they discussed mechanisms for joint cooperation in the investment sector.

Chairman of the National Commission stressed the importance of enhancing the levels of bilateral cooperation between Baghdad and Seoul, proceed with agreements to protect investment work between the two countries and attract Korean capital and investors.

Makiya added that the Bismayah Compound, which was implemented by the South Korean Hanwha Company, is considered one of the pioneering residential projects, due to the availability of quality standards, accuracy in implementation, competitive prices, and a solution to the housing crisis.

the Korean Ambassador, Mr. Choi Sung Soo, expressed his thanks to the NIC Chairman, Dr. Makiya, for his interest in developing cooperation and potential technical, legal and financial discussions with Hanwha Company to reach the decision to sign the annex to the contract for the Bismayah Residential Complex project.

 

NIC Chairman heads the Board of Directors’ 1st meeting and calls for completing the investment map for 2023

Dr. Makiya, NIC Chairman, headed the Board of Directors’ 1st meeting and calls for a bigger role in enhancing integration factors in investment sector.

Chairman said at the meeting that the government is looking forward contributions of the NIC in consolidating and encouraging the investment environment, identifying problems in PICs’ projects, and finding realistic solutions to them, stressing that BoD tasks are within studying and evaluating work directions and strengthening the final decisions of the NIC .

 

Amending NIC laws and regulations including BoD role, coordination with sectoral entities regarding granting licenses for delayed and stopped projects, completing the investment map for 2023 by cooperating with ministries and sectoral entities, was discussed at the  meeting

BoD members welcomed NIC Chairman and assured their keen to achieve integration and coordination in making decisions concerning vital investment projects.

9/3/2023

 

NIC signs a contract for investment services and engineering supervision to develop projects

NIC signed two contracts for investment services and engineering supervision for the Lake Project within Al Refeel City awarded to the Forth Dimension Co. with the two consultant bureaus of Al Mustansriya and Al Iraqiya Universities

Dr. Makiya said that NIC is following its procedures with the right criteria allowing it to develop national investment that elevate the value of the technical projects and assure design safety and execution.

 

NIC Chairman discusses mutual cooperation with the Jordanian Ambassador

Dr. Makiya, NIC Chairman meets with Dr. Muntasir Oqla Al-Zoubi, the Jordanian ambassador in Baghdad. Both discussed investment partnership mechanism between the two countries.

NIC Chairman said the Iraqi Gov. is keen to encourage investment and establish actual partnerships with foreign private sector based on demand and community development.

He added that the National Investment Commission is looking forward to prospects of joint cooperation with Jordanian investment companies and offer them distinct project models, indicating that plans are proceeding towards facilitating investment licenses granting to foreign investors according to the governing legal terms.

His Excellency the Jordanian Ambassador, Dr. M. Oqla Al-Zoubi, expressed his thanks to His Excellency the Chairman of the NIC, referring to the Kingdom’s keenness to develop bilateral cooperation in the investment sector in Iraq.

6^th March 2023

NIC Chairman discusses with the Korean delegation Bismaya project annex and orders quick procedures to sign it.

 

Dr. Makiya discussed with S.K Hanwha delegation the financial, legal and technical aspects in order to sign Bismaya project annex.

Chairmen welcomed the delegation during the meeting attended by the committee concerned in studying the project and determine the financial situation. He focused on continuing these meetings to provide a mechanism for financial, technical and legal procedures relevant to signing the contract with the executing agency.

Bismaya project is a successful one and it should be taken care of  and keep working to complete all necessary requirements to sign the annex according to investment law.

S.K delegation expressed cooperation with NIC to finish the job within time line based on contract terms and in a good quality.

5^th March 2023

 

 

 

Chairman discusses with the Iraqi Economic Board forming an investment disputes court house in Iraq 

 

Dr. Makiya, NIC chairman discussed with members of the Iraqi Economic Board how to improve mutual cooperation and the possibility of forming an investment disputes court house in Iraq. He also mentioned that NIC is leading a mutual cooperation between public and private sector to enhance investment and meet community requirements considering successes criteria of agriculture, industrial and residential projects as a must for the development process in Iraq.

He added that NIC is studying with relevant agencies the possibility of forming an investment disputes court to address obstacles challenging investment projects.

Dr. Baghdadi, head of the Iraqi Economic Board welcomed NIC Chairman and his cooperation with other investment and economic institutions in order to finalize ideas and visions regarding vital projects in Iraq.

Attendees referred to a group of proposals that may be a base for quality procedures in investment commissions in all provinces.

5^th March 2023