Dr. Sami R. Al Araji, assured that the real criteria for choosing project investors for the 1 million housing unit in Iraq will be the technical and financial competence. He clarified that all investors will enjoy privileges guaranteed by investment law 13 of 2006.
He mentioned that during a meeting with more than 37 companies interested in participating in executing the 1 million housing unit project, referring that each company should clarify their attitude, and start from the very beginning to work on the organizational side of the project which includes many elements such as developing a study for the basic design of the province regarding the height of the building, number of stories and type of the soil. All this must comply with the engineering aspect and the economic benefit and attention must be paid to the historic criteria and the nature of the area. 5-7 designs and alternatives must be developed for the housing units.
Interested companies must provide all infrastructure services including (water, electricity, sewage and communication) also a primary school with 12 classes and one clinic, police station, civil defense center. He pointed that all additional services such as (entertainment centers, sports centers, malls) will be under direct investment to investors for at least 25 years. NIC will be organizing this type of activities and relevant administrational procedures which links them with the governmental agencies. Investors shall be responsible for post project maintenance according to a previously agreed price. Investment companies can utilize Iraqi workers and local materials provided guarantying standard specifications and quality control.
Dr .Al- Araji warned the companies that there are some important points which NIC cannot tolerate such as quality control for used materials, performance safety, environmental requirements, basic services for citizens and the general view of the complex.

Regarding the financial aspect in funding the project, NIC Chairman declared that we have governmental banks that assures the financial flow and guarantees investor’s capital (Al Rafidain, Al Rasheed, and Trade Bank of Iraq). Organizational procedures for payment will be 25% from the beneficiary, 10% to be given directly to the investor after signing the contract, the rest 15% to be received after procedures and land preparation. The investors shall provide approvals from international and local banks guaranteeing completing the rest of the project, (75%) to be divided into 7 annual payments equally with a yearly interest to be paid by Iraqi banks to investors after completing the project which represent the first payment. The beneficiary can pay directly without interests and have the unit registered in his name and avoid gradual payment which can last from 10 -15 years with interests.

NIC Chairman – Dr. Sami Al- Araji discussed with Dr. Esawy – Deputy Prime Minister the ongoing efforts aiming at drawing the investment map all over the country in addition to identifying the achievement rates of the strategic development projects.
The topics focused on during the meeting were the current and future housing projects and their achievement rates, the projects that shall cover part of the Iraqi low and middle income people housing needs.
NIC Chairman assured that the work of the Investment Commission concentrates at providing Iraqi and foreign investors with the investment opportunities to compete in various economic sectors and support the reconstruction process.

NIC Chairman stressed the necessity of taking into account the economic hubs and the privacy for each province in drawing the investment map and listing the projects according to priority and importance in agricultural, industrial or housing projects.
The above mentioned subjects were discussed during the periodical meeting with the PICs representatives held on the 6th of Sept. 10 at the NIC premises, Dr. Sami gave his directives to update the investment projects database in each province along with evaluating the achievement rates for these projects and identifying the reasons behind the delay in achieving any project finding the solutions for problems facing them in addition to submitting all facilities and incentives for investors granted by investment law No. 13 for the year 2006.
Dr. Al Araji also stressed the importance of allocating the lands for the big investment projects especially the project of the One Million Housing Units, asserting that the allocated land must be close to cities and provinces centers or to choose vast areas outside the cities could be complete cities. Dr. Sami also urged the PICs to foster cooperation with the provincial governments and the sectoral sides in the provinces to ensure allocating the required lands.

Regarding selling the housing units (within the project of the One Million Unit) to the government officials, Dr. Sami asked the PICs chairmen to identify the number of government officials willing to buy in each province and to organize the process through finalizing the list for those who meet the required legal terms.

NIC Chairman listened to a number of the PICs Chairmen suggestions and opinions concerning investment in various fields and finding solutions to the obstacles hindering implementing investment projects, Dr. Sami in his turn promised to facilitate all obstacles stand against development and reconstruction.

Dr. Sami Al- Araji – Chairman of the National Investment Commission attended the meeting, headed by Dr. Rodj Nori Shawees – Deputy Prime Minister, which was held on the 30th of August to discuss the performance of the National Investment Commission and investment environment in Iraq.
A spokesman for the office of the Deputy Prime Minister declared to the NIC Media office that the meeting was also attended by minister of Oil, Minister of Planning, Minister of Industry & Minerals, the General Secretary of the Ministers Council, Chairman of the Advisors Commission, Advisor of the Minister of Finance and the representative of the Ministry of Municipalities and public works . A report about the NIC ‘s activities, the most important investment projects and the obstacles that hinder the overflowing of investments and capitals into Iraq was submitted by NIC chairman and discussed in addition to discussing the big housing projects as the project of the One Million Housing Unit all over Iraq , Al- Rasheed City ( Al- Rasheed Military camp), Dhifaf Karbala project, Al- Mustaqbal city project in Baghdad. Other industrial, electrical and oil investment projects were also discussed during the meeting.
Laws, decisions and other investment related matters were discussed as lands, capitals customs and tax exemptions with taking in to consideration the recommendations of several committees to amend some of the laws and decisions to facilitate and develop investment opportunities in Iraq.

Dr. Sami Al- Araji – Chairman of the National Investment Commission headed the meeting of the Iraqi – American Trade & investment Committee which was held at the office of the Deputy Prime Minister on the 26th pf Aug. 2010 and attended by the representatives of the Ministry of Interior , Health, Labor, Trade, Industry and the Deputy Prime Minister office Manager from the Iraqi side , while the American side was represented by Mr. Del Abler – economic counselor, the commercial counselor and a number of Trade and Investment specialists in the American embassy in Baghdad.
The meeting parties discussed means of facilitating the commercial exchange between the two sides through creating the appropriate conditions for the commercial companies and simplifying the procedures for obtaining the entry visas and information about the available investment opportunities etc..

Dr. Sami Al- Araji, Chairman of the National Investment Commission announced that the second round of negotiations with companies applied for implementing the project of the One million Housing Units had started and would last for the next two months until ends with signing the contracts.
Dr. Sami’s announcement came during heading the eighteenth periodical meeting of the board of directors on the 26th of Aug. 2010 at the NIC premises , during the meeting NIC chairman mentioned that that the number of the financially and technically capable companies applying to implement the project of the One Million Housing Units is 35 company out of 120 applying one.
He also added that during the next two weeks some of the project required lands shall be allocated in Baghdad confirming that the NIC is still receiving the numbers of the government officials willing to buy the housing units.
During the meeting which was attended by all members of the board of directors, the capacities and capabilities of the Iraqi private sector to play an active role in the currently going investment process was discussed in addition to discussing the means of overcoming all obstacles facing investors in Iraq in order to accelerate the implementation of all licensed investment projects.

The National Investment Commission holds a meeting with ministries’ representatives
The NIC held a meeting in its head quarter with ministries and unrelated bodies representatives headed by Mr. Abdulla Al Bander, NIC Advisor, his assistance in the One Stop Shop Mr. Saad Mizal and head of representatives dept. in OSS.
Al Bander emphasized during the meeting on the importance of representatives role to be more active by following up letters issued by NIC regarding projects submitted to the sectoral bodies and ensure response in a time limit according to the law (15 days). They follow up technical issues with all levels.
Attendees reviewed investment law 13 of 2006 and explained article 2, first and second. NIC efforts in connecting with representatives to achieve the best mutual cooperation were also reviewed.
They discussed the necessity of granting representatives the required authority to enable them of fulfilling the investor’s documentation within the time limit. NIC informed them of meeting with their officials and explained the fundamental goals of working with the NIC and cooperate in activating legal articles and paragraphs as a sectoral body and inform NIC with any difficulty that may hinder their task especially when responding to NIC requests.

Al Najaf PIC granted 6 new investment licenses for commercial, industrial and entertainment projects with a total value of 64.9 million USD
Rasool Al Kabi, media official in Najaf PIC said that they granted a license to build a commercial mall to Aurans Ghalib, investor, total value 286 thousand USD. This mall consists of two floors, ground floor has 9 commercial shops and the second one has a big hall. Execution period is 10 months. The second project is to build a complete fuel station with value of 1 million USD to Hazim Kamil Muslim, investor. The station has 10 tanks with capacity of 64 thousand litters to sell fuel, gasoline, kerosene and gasoil. It also has commercial shops and a green park. Execution period is 12 months.

He added that two investment licenses were granted. The first one for investor Hassan Noori Abdul Hassan to build a hotel with a total value of 800 thousand USD. The hotel consist of two floors, 156 rooms and 12 suites with other activities such as games hall, restaurant and other services facilities.
The second project is a tourism one to develop Zamzam Tourism Complex, estimated cost is 27.230.000 USD. 151 additional rooms will be built, 4 of them for individuals with special needs, rebuilding the existing services facility, establishing underground garage, increasing the number of elevators, services office, communication, and internet in addition to importing modern vehicles for visitors and delegations. Execution period is 23 months.
He continued saying: an investment license was granted to establish an entertaining park that consists of shops, children’s’ games, green fields and water circulations. Execution period is (141) days.
Another license was granted to Taj Al Zumurud company to establish a plant for producing and assembling housing units. The plant consists of warehouses, concrete station, assembling equipments, electro mechanic-extensions, panel casting, steel reinforcement and treatment. Execution period is 6 months. Total number of granted licenses is 103 in all sectors. Applications for investment licenses is more than 500.

Kirkuk Investment Commission announced that a delegation of Turkish Investment Companies visited the province recently and discussed ways of investing and constructing a power station of 150 MW capacity. KIC in its turn assured the readiness to obtain all necessary approvals from concerned ministries and provide all facilities required to implement the project.
Mr. Falah Al- Bazaz, Chairman of Kirkuk Investment Commission, informed the NIC media office that a delegation of big Turkish investment companies visited Kirkuk and explored investment opportunities available, he also assured that the delegation had showed the willingness to implement several projects in Power and Housing sectors.
Mr. Bazaz also declared that the delegation had had a meeting with Mr. Abdul Rahman Mustafa, Governor of Kirkuk during which they discussed the increasing need of the province for the generating power stations to solve the power lack crisis, the governor stressed the preparedness to provide all services to implement such important projects for the long term experience these companies have in electricity sector.
KIC Chairman assured that the province shall open contact channels with the Ministries of Electricity and Oil in order to accelerate the procedures of implementing the power station project.

Babylon Investment Commission participated in the conference of Supporting Iraqi Businesswomen under the slogan of (Woman is half of the society … Hand in hand we build Iraq) for the period from (10-11.08.10) on the land of Babylon resort.
A source in Babylon Investment Commission informed the NIC Media Office That Dr. Ibraheem Rasool, BIC member of the board represented the commission in the conference mentioning that the conference had included a speech by Mrs. Suhaila abdul Redha, member of the Provincial Council through which she stressed the importance of supporting such conferences and paying more attention for Iraqi Businesswomen .
Mr. Tariq Majeed, representative of Babylon Governor also gave a speech through which he assured the support of the local government for such conferences.
The news source added that a workshop had been held during the conference focused on the Role of Babylon Investment