The Chairman of the National Investment Commission signed the International Settlement Agreement resulting from Mediation and International Investment Disputes (Singapore Convention).

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The Chairman of the National Investment Commission signed the International Settlement Agreement resulting from Mediation and International Investment Disputes (Singapore Convention). He stressed the importance of integrating international and local investment environment indicators.

Dr. Haider Mohammed Makiya, the Chairman of the National Investment Commission and a well-known international investment expert, signed the United Nations Convention on International Mediation in New York City, USA. This convention is also called the Singapore Convention on Mediation and International Investment Disputes.

During a signing ceremony, held in coordination with the Iraqi representation at the United Nations, the Chairman of the Commission emphasized the necessity of activating the Republic of Iraq’s accession to the Singapore Convention on Mediation and International Investment Disputes. This is based on the provisions of Law No. (14) of 2021, and in accordance with the Council of Ministers Resolution No. (24203) of 2024, which approved the International Commercial Arbitration Law. This law includes international standards for international commercial arbitration, which is crucial for enhancing the Iraqi investment reality. Iraq has numerous opportunities for international strategic and qualitative investment, which necessitates contracting with foreign companies specialized in investment. It is vital to provide legal protection for these companies in the event of disputes arising from contracts concluded by state institutions. These foreign companies prefer to resort to international arbitration to ensure their rights, as stipulated in Article (27/I) of the Investment Law No. 13 of 2006, as amended.

Makiya stated that the Singapore Mediation Agreement serves as a tool to promote international trade and mediation, and as a symbol of hope for a more effective and harmonious global business environment. It is an alternative and effective means of settling commercial disputes, contributing to achieving sustainable development goals and encouraging the use of mediation in settling cross-border disputes, thereby maintaining trade relations between parties involved in the investment process.

 

The Chairman of the Commission added that the agreement is pivotal due to its importance and several justifications for joining it. One of the main reasons being the need for an alternative method to litigation procedures before international arbitration tribunals in disputes arising from investment through commercial mediation, as outlined in the provisions of this agreement. The Republic of Iraq joined the International Center for Settlement of Investment Disputes between States and Citizens of Other States in 2015, which grants foreign investors the right to resort to the Washington Center.

 

He also emphasized that Iraq’s accession to the Singapore Mediation Agreement is not only necessary but a crucial step to attract investments and achieve economic development, particularly in the context of the country’s transition to a free market economy and the referral of numerous strategic projects to foreign investors and companies.

 

The Chairman of the National Investment Commission concluded by announcing a specialized program of introductory workshops that the Authority will hold for all ministries and state institutions in collaboration with the UNDP. These workshops aim to educate their legal departments about the legal impact of this agreement.

 

The Chairman of the National Investment Authority is confidently steering the board meeting as they discuss the various negotiation stages required to successfully complete the Bismaya Residential City project.

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During a recent meeting, the Chairman of the National Investment Authority, Dr. Haider Muhammad Makkiya, confidently led discussions on various negotiation stages required to successfully complete the Bismaya Residential City project. The negotiations focused on renewing the investment contract for the South Korean company Hanwha, and other related topics.

Dr. Makkiya confirmed that the Authority is committed to completing the project and providing appropriate housing services for citizens. He also mentioned that the Authority is actively seeking investment opportunities in other governorates, similar to the city of Bismayah.

During the meeting, Dr. Makkiya also discussed controls for changing activity for investment projects, controls of projects excluded from the National Authority, and controls for announcing investment opportunities.

The National Investment Authority Chairman is leading a meeting to discuss proposed changes to the Investment Law.

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The head of the National Investment Authority is leading a meeting to discuss proposed revisions to the Investment Law.

The Chairman of the National Investment Authority, Dr. Haider Muhammad Makkiya, headed A meeting was held to discuss the proposed amendments to the amended Investment Law No. (13) of 2006 with the aim of strengthening the economic sector in Iraq.

The Chairman of the Authority discussed in the meeting, in the presence of the general directors and advisors, A set of proposals that provide the appropriate legislative environment for developing the reality of investment and strategic projects in Baghdad and the provinces.

The attendees discussed the proposed amendments and crucial articles in the law. They hope these changes will provide the National Authority and investment sector with a broader strategic dimension at administrative, technical, and financial levels.

The meeting concluded by establishing a deadline for finalizing the amendments. And take the necessary legal procedures regarding it.

“The National Investment Authority took part in a symposium discussing emissions and energy consumption.” emissions and energy consumption.”

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The National Investment Authority is participating in a symposium to discuss emissions and energy use.

 

On Wednesday, the National Initiative for Energy Support and Emissions Reduction Committee’s team participated in an expanded dialogue symposium organized by the Media and Communications Commission in the Media Hall at the University of Baghdad.

The symposium was attended by parliamentarians, government officials, media representatives, volunteers from civil society organizations, and representatives from various governorates. The event focused on the importance of media and community awareness and education regarding the risks of emissions and climate change. It was highlighted that clean energy is the only solution to get rid of these risks, and it is necessary to mobilize efforts to enact a law to support renewable energy. The government prioritizes renewable energy and provides support to promote it.

The symposium revealed that reputable companies contribute about 7,500 megawatts of clean energy to the national grid.

The National Investment Authority is committed to promoting investment in renewable energy and collaborating with the Ministry of Environment and Electricity and other relevant authorities in establishing such projects. The aim is to encourage using clean energy in various investment projects, including solar panels, energy-efficient lighting, solar water heaters, thermal insulation, electric cars, and waste-to-energy projects.

The head of the National Investment Authority stresses adherence to the prices of feasibility studies for selling residential units.

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The head of the National Investment Authority stresses adherence to the prices of feasibility studies for selling residential units.

The head of the National Investment Authority, Dr. Haider Muhammad Makkiya, stressed: It is necessary to adhere to the prices established in feasibility studies to sell residential units in investment complexes in Baghdad and the governorates.

This came during his inspection of the Lion of Babylon housing project in Baghdad in the presence of the Deputy Chairman of the Authority, Mr. Salar Muhammad Amin.

The Chairman of the Authority confirmed during his visit to the sales center in the complex, The importance of adhering to the prices established in the feasibility study for selling residential units and providing the best standards of sustainable services to citizens.

He added that the National Authority formulates the investment policy in a way that secures the relationship between the investor and the Authority on the one hand and the citizen on the other hand. Pointing out that the citizen is looking forward to solid projects that provide him with the elements of a suitable residential environment for living.

Launching work on the Al-jawahry City project

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From its inception, the Prime Minister’s government program identified a strategy to address the housing crisis. Many meetings were held for the cities’ teams to address this crisis and its roots, which resulted in the establishment of integrated sustainable residential cities and not the expansion of residential complexes with a limited number of residential units.

Population centers were chosen in Baghdad and the other governorates, far from city centers and their bottlenecks.

At the end of August this year, the National Investment Authority announced five residential cities as international investment opportunities as the first phase.

The first city whose license was granted by the National Investment Commission at the beginning of December was the city of jewelers after organizing the economic relationship between the state and the investor through an economic model in various European countries. The investor will participate in providing serviced lands or ready-to-use housing units to the state, at a certain percentage of the project area, and housing unit prices available to citizens.

The New Al-Jawahiri City project will allocate 25% of the lands served with all its infrastructure, which the state will distribute to different categories according to the categories approved by the National Housing Council.

It will provide Al-Jawahiri City with 7,121 dunams, 30 thousand diverse housing units, And 10 thousand serviced residential plots of land to be distributed to citizens of different categories.

The head of the National Investment Commission inspects investment projects in Baghdad and confirms the government’s keenness to strengthen the private sector environment in Iraq.

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The head of the National Investment Commission inspects investment projects in Baghdad and confirms the government’s keenness to strengthen the private sector environment in Iraq.

The Chairman of the National Investment Authority, Dr. Haider Muhammad Makkiya, conducted An inspection tour of the Rixos Hotel and Resort Investment Project in Baghdad, He directs the necessity of adhering to work schedules and achieving calculated completion rates.

The head of the National Authority said, During his inspection of the work processes in the project, Informing him of the implementation plans, The Rixos project represents a cultural interface for the country. It is considered one of Baghdad’s most important modern tourist and investment resorts. Stressing that the progress of work within the project has become clear, Mainly after Prime Minister Engineer Muhammad Shiaa Al-Sudani laid the foundation stone for the project last August, Evidence of the keenness to enhance the indicators of the investment environment and its enjoyment of the elements of security and stability that stimulate vital projects in Baghdad and the provinces.

Makiya added during a meeting with the resident engineer and representatives of the company implementing the project, The National Investment Authority monitors its projects in Iraq, It develops solutions to address the challenges it faces to complete them within the time frames established by feasibility studies.

The Chairman of the Authority stressed that such projects should be It serves as a vital arm and support for the national economy by maximizing the state’s resources and general budget through the optimal investment method.

The inspection tour also included His Excellency the Chairman of the National Investment Authority, Dr. Haider Muhammad Makkiya, Downtown Baghdad project and reviewing the completion rates achieved in it, Which represents the tallest skyscraper in Iraq, with (65) floors.

Makiya confirmed, During an expanded meeting with the implementing company and the engineering and technical work team at the project site, The necessity of maintaining the increasing pace of work to achieve completion rates, With the accuracy of the technical specifications and engineering standards included in the project designs.

The head of the National Authority stated during his tour with the engineering and consulting team in the project’s buildings and towers, The importance of adhering to the prices established in the feasibility study, We provide citizens with the best services and benefits of a sustainable residential environment.

 

Makiya pointed out, To support the Authority for investment projects distinguished by their sustainable construction methods at the level of services, modern designs, and objective feasibility studies.

The National Investment Authority announces the names of the second batch of citizens to receive their housing units in the city of Bismayah.

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The National Investment Authority announces the names of the second batch of citizens to receive their housing units in the city of Bismayah.

The National Investment Authority announced the names of the second group of citizens contracting to purchase housing units in the city of Bismayah.

The Authority’s official spokesman, Dr. Muthanna Al-Ghanimi, said: The National Investment Authority announced the names of the second group of citizens contracting to purchase housing units in the city of Bismayah for the years (2021/2022), For its original receipt, January and February of the current year (2023),

He added that the Authority will deliver the housing units to its contractors after receiving them from the South Korean company Hanwha Engineering and Construction. The company receives its financial dues.

Noted by Al-Ghanimi, Citizens who have completed their banking transactions for the aforementioned years, The individuals are required to visit the National Investment Authority headquarters within three days for inquiries as their names were not included.

The leader of the National Investment Authority inspected the residential city of Bismaya. They discussed the requirements with Korean company Hanwha to build 14,000 schools in Baghdad and other provinces.

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The head of the National Investment Authority inspected the Bismaya residential city and discussed the requirements for implementing 14,000 schools in Baghdad and other provinces with the Korean company Hanwha.

The Chairman of the National Investment Authority, Dr. Haider Muhammad Makkiya, conducted an inspection tour of the residential city of Bismaya. He looked at the school buildings, their areas, designs, laboratories, and production lines. With the Minister of Education, Dr. Ibrahim Namis Al-Jubouri, the Prime Minister’s Advisor, Dr. Adnan Al-Sarraj, and the Vice President of the Korean Hanwha Company, Mr. Jung Hoon Lee.

His Excellency the Chairman of the Authority said during his tour of the city with the Minister of Education and the Prime Minister’s Advisor: The Bismayah project is one of the most vital strategic projects in the residential sector in Baghdad. It addresses an integral part of the housing problem by providing (100) thousand housing units.

He added that the Iraqi government is determined to create new, integrated cities in most of Iraq’s governorates according to sustainable construction methods, similar to the Bismayah experience.

For his part, the Minister of Education, Dr. Ibrahim Namis Al-Jubouri, expressed: His thanks to His Excellency the Chairman of the Authority for following up on the issue of establishing schools in Baghdad and the governorates, Service to the educational sector through the South Korean company Hanwha.

As the Prime Minister’s Advisor, Dr. Adnan Al-Sarraj, explained, The importance of bridging relations between state institutions in the context of implementing the government program, especially the educational sector, through solid companies specialized in construction and investment methods.

The Chairman of the Authority also held a meeting with the Vice President of the Korean company, Mr. Jong Hoon. They discussed the possibility of establishing (16,000) schools throughout Iraq. By the precise engineering specifications and technical standards that characterize the company’s work in residential units in Bismayah City, Within specific time limits without affecting the work of constructing housing units in the city.

The head of the authority continued, A work program will be launched soon with the Koreans regarding the establishment of schools after reviewing the plans prepared by the company and the Ministry of Education to implement the work according to the contract’s wording, which will include the agreement’s details.

The head of the National Investment Authority led a meeting with the opinion committee to discuss progress in Bismaya.

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The chairman of the National Investment Authority leads a meeting of the opinion committee to discuss the progress of work being done in Bismaya.

Dr. Haider Muhammad Makkiya, Chairman of the National Investment Authority, presided over the meeting. An opinion committee convened a meeting to discuss recent developments in the residential city of Bismaya.

The Chairman of the Authority confirmed, In the meeting attended by general directors and department officials, The importance of continuing to complete the procedures related to the South Korean company Hanwha, project financing, Registered citizens receive housing units.

The meeting discussed, The necessity of strengthening the components of the local investment environment by simplifying procedures and implementing the law to ensure investor protection. We are encouraging confidence in the investment reality in Iraq.