Chairman of the National Investment Commission orders changes in some departments working in the project

Supporting Bismayah New City projects …

NIC Chairman changes a number of dept. in the project

Dr. Haider Muhammad Makiya, Chairman of the National Investment Commission, ordered Thursday 16/2/2023 some administrative and legal changes in the departments supervising the Bismayah City project, in line with the new phase the project shall witness.

He mentioned to the Media Dept.  that these changes came to ensure more fluidity and flexibility in dealing with the residents and registrants of the project for the next phase, which is expected to witness a significant increase in the demand for housing units after overcoming the legal and financial disputes with the South Korean Hanwha Company..

He added that these departments will enjoy his follow-up and direct supervision, in a manner commensurate with their diverse and wide spectrum of the Iraqi people.

During his meeting with the head of the Korean Track Group for Development, Chairman of the National Investment Commission supports the construction of the new city of Habbaniyah

 

The Chairman of the National Investment Commission, Dr. Haider Muhammad Makiya, met with the Chairman of Track Group for Development, Mr. Moon Tong and his accompanying delegation.

During the meeting, the mechanism for investing the new city of Habbaniyah in Anbar province was discussed, with the possibilities of facilitating obtaining the investment license for the city after completing all the necessary requirements for the project.

NIC Chairman welcomed the idea of the project, which includes establishing the new city of Habbaniyah on (12) thousand dunums in Anbar Governorate, to be an integrated city with services and (100) thousand housing units, in addition to entertainment centers and universities, as well as an industrial city.

He promised to support and facilitate the procedures required for the project in line with the Prime Minister’s instructions to attract and encourage strategic investments in the country.

Chairman of the National Investment Commission, Dr. Haider Muhammad Makiya, chairs the meeting of the Committee for Estimating the Sale and Lease of State and Public Sector Real Estate

 

NIC  Vice President, Mr. Salar Muhammad Amin, members of the committee and representatives of the owners attended the meeting where projects required to be evaluated were discussed, including the Kirkuk refinery and the city of visitors in Baghdad, with notes were identified in their regard.

The committee also decided to hold a bi-monthly meeting or whenever necessary to study and estimate investment projects and arrange for site inspection of the real estate to be estimated for the purpose of determining the value of lands allocated for investment projects.

PM M. Al-Sudani meets senior staff while visiting NIC and confirms …

• Investment is a part of the governmental priority program and the development plan.
• Investment is a vital tool to solve several issues if plans and vision are doable.
• NIC is in charge of protecting investors, improving investment environment and attracting successful investments to Iraq.
• Handling the chronic housing issue is going to be fair to both of investors and the government. We are not going to lose more of distinctive lands
• E- work shall improve NIC performance and procedures to go in line with the government plan
• Investing in provinces has to be diversified and consistent with their needs, resources, population, education and poverty indicators and far from being random.
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Prime Minister, Eng. Muhammad Shia’a Al-Sudani, stressed the importance of the state and the concerned economic institutions having an accurate and detailed vision of the priorities that must be taken into account, based on the country’s circumstances and the requirements of its people for services that can be provided with the available resources and potentials in each sector.

He also indicated that this vision should not be isolated from the plan and effort of the state, but rather reinforcement to its strategy, which is supposed to be real and tangible by the citizen in all aspects of life.

He added, while chairing a meeting at the headquarters of the National Investment Commission today, Monday 13/2/2023, attended by Dr. Haider Muhammad Makiya, Chairman of NIC, Dr. Abdul Karim Al-Faisal, Chairman of the Council of Advisors, and Dr. Abdul Hussein Al-Anbaki, Economic Adviser to the Prime Minister and NIC General Directors, that our visit today shows our great support for this vital institution, which we plan to raise its perform to the level of the tasks entrusted to it in changing people’s impressions and mood and the public opinion. This will not be achieved without efforts of concerned ministries and sectoral institutions in granting the investment license.

Nor will it be achieved unless NIC works to identify serious investors and provide them with the necessary protection apart from dealers and brokers who shall not add any value to this vital issue.

Chairman of the National Investment Commission, Dr. Haider Muhammad Makiya, presented at the beginning of the meeting a detailed explanation of a number of projects that the Commission is working on maturing in preparation for launching them in various investment forms.

He touched on a number of laws and regulations concerned with investment and the possibility of benefiting from some of their paragraphs in providing services for a number of projects

The Prime Minister listened to a number of notes and proposals in support of the work from General Directors in the legal, administrative and public relations departments.

The Prime Minister directed forming a specialized supporting team to NIC linked to him in order to speed up submitting proposals and contributing to developing this vital sector by finding solutions to a number of problems.

 

In the framework of his visit to Kerbala Holy province- NIC Chairman, Dr. Haider Makiyah meets legislative in charge of the Holy husseini Shrine – Sheikh Abdul Mahdi Al- Kerbalaee

NIC Chairman, Dr. Haider Makiyah, met with the legislative in charge of the Holy Husseini Shrine, Sheikh Abdul Mahdi Al- Kerbalaee during his visit to Kerbala Holy province on Tuesday 8^th of Feb.2023.

NIC Chairman expressed his admiration in the big role the holy Shrine is undertaking through implementing several projects in Kerbala and other provinces and at the top Kerbala international Airport that has reached 60% of achievement rate and Warith Oncology international Center which is considered as a big medical landmark.

Assuring that NIC will be fully supportive for the Holy Shrine efforts and will work on facilitating all obstacles and difficulties facing the implementation of its investment projects.

Sheikh Al- Kerbalaee in his turn praised NIC supportive efforts especially in the project of Kerbala International Airport which is being implemented according to the most modern international standards made by (ADPI(   French company with a capacity reach 3 million passenger annually as a first stage .

Al- Kerbalaee also asked NIC to give more attention to industrial and agricultural investments for their positive reflections on the national economic reality and on encouraging serious investors to participate in the current investment process in Iraq in addition to their role in providing various job opportunities for the promising Iraqi youth.

NIC Chairman, Dr. Haider Makiyah, presides the tenth meeting for the committee of studying the applications of revising investment licenses coming from NIC and PICs

During the meeting, that was attended by Dr. Najeeb Shukur, DG of Legal Dept. in the General Secretariat of Ministers’ Council, the committee reviewed the most prominent problems in the projects listed in the meeting agenda.

The meeting was also attended by the committee members from (State Possessions Directorate, Tourism commission, Ministry of Planning, Ministers’ Council Affairs dept.)

The National Investment Commission (NIC) clarifies mechanisms of financial compromises followed in housing projects in Baghdad and provinces.

In the framework of supporting the state efforts to reach a stable currency exchange rate

NIC clarifies mechanisms of financial compromises followed in housing projects in Baghdad and provinces.

No secret for everyone the instability Iraqi market and economy are witnessing in all sectors because of the fluctuation in USD exchange rate and reflected confusion in implementing decisions made by the state Ministries and institutions to support the government and CBI measures to protect local currency.

And for investment companies contracting with NIC an PICs , NIC would prefer to clarify its procedures in this regard.

• Abiding by the directives of the General Secretariat of the Ministers’ Council to all investment companies specialized in constructing housing complexes, a number of investment companies have already started banking windows for their projects financial transactions in a number of banks in coordination with CBI in a mechanism that consists of requiring Iraqi customers to pay their financial dues in Iraqi Dinars that will be automatically exchanged into US dollars by the recipient bank and deposited to investment companies accounts in a way that not adding new burdens on customers. NIC could define the violating projects and in its turn had forwarded official abiding letters to the licensing PICs to urge these projects managements to abide by restrictions otherwise they will be subject for legal prosecution.
• Branches of state banks (financers of NIC licensed housing projects including Bismayah project) are fully committed to receive monthly dues from customers who contracted prior to the last devaluation of Iraqi dinar according to 1200 exchange rate, and those who contracted after devaluation shall pay according to CBI bulletin.

 

• Housing projects financed by private banks and private sector companies must be committed to adopt legal exchange rate announced by CBI according to the informative letters of the General Secretariat of Ministers’ Council and NIC.

 

NIC Chairman meets with Ms. Abeer AL- Naeb – DG of Iraqi Business Council in Jordan

NIC Chairman meets with Ms. Abeer AL- Naeb – DG of Iraqi Business Council in Jordan and her accompanying delegation, during the meeting they discussed opportunities and possibilities of reinforcing Jordanian investments  entering Iraq benefiting from incentives granted by investment law no. 13 for the year 2006 as amended.

Dr. Makiyah also listened to a detailed explanation of the most prominent problems that work against streamlined incoming investments, for the purpose of finding best solutions and supporting the Council efforts to attract investments and capitals into Iraq.

 

NIC Chairman, Dr. Haider Makiyah checks out progress in the works of Kerbala International Airport project

NIC Chairman, Dr. Haider Makiyah checks out progress in the works of Kerbala International Airport project as he was received by eng. Manhal al- Haboobi – project consultative engineer and during the visit he listened to a detailed presentation on project achievement stages when he expressed NIC full readiness to support a speedy implementation of the project for its high importance in streamlining local and international pilgrims movement the matter that will positively reflects on the province economy.

NIC Chairman Dr. Haider Makiyah listens to a detailed review on Warith Oncology International Center

NIC Chairman Dr. Haider Makiyah listened to a detailed presentation on Warith Oncology International center by its head Dr. Haider al- Abidi and went in a tour to view the modern equipments used in the center when he conveyed his pride for having such a great medical edifice.