The head of the National Investment Commission meets a delegation from the US Embassy in Baghdad and discusses ways to enhance economic and investment cooperation

Chairman of the National Investment Commission meets a delegation from the US Embassy in Baghdad and discusses with them ways to enhance economic and investment cooperation The Chairman of the National Investment Commission, Dr. Haider Mohammed Makkiya, met on Monday with a delegation from the US Embassy in Baghdad to discuss ways to enhance economic and investment cooperation between Iraq and the United States. During the meeting, KDIPA Chairman emphasized the importance of these talks in light of the government’s efforts to improve the investment climate in Iraq and attract more foreign direct investments. The two sides discussed a number of promising areas of economic cooperation. including sustainable energy, manufacturing, and technology. They also discussed the challenges facing foreign investors. The head of the National Investment Commission expressed that Iraq welcomes more U.S. investments. He stressed on providing facilities and incentives to foreign investors to promote economic development in accordance with the government program. For his part, the delegation emphasized the commitment of the United States to strengthen economic relations with Iraq and its readiness to support American investors wishing to enter the investment process in Iraq.

Chairman of the National Investment Authority meets Bangladesh’s Ambassador and discusses the development of economic relations

The chairman of the National Investment Authority meets Bangladesh’s Ambassador and discusses the development of economic relations.

The National Investment Authority (NIA) Chairman, Dr. Haider Mohammed Makkiya, met today with the Ambassador of the People’s Republic of Bangladesh to Iraq, Mr. Amdi Fazlul Bari.

During the meeting, they discussed strengthening bilateral relations between Iraq and Bangladesh. and ways to develop investment cooperation between the two countries. In addition to discussing joint investment opportunities in various sectors that would promote economic growth and progress in both countries.

The two sides emphasized moving forward with the conclusion of an investment protection and promotion agreement between the two countries. The agreement aims to provide a legal and regulatory framework that guarantees the protection of investors’ rights and promotes mutual trust. This will contribute to attracting more investments and strengthening economic cooperation.

For his part, H.E. the Ambassador extended his thanks and appreciation to Mr. President of KDIPA for the warm reception as well as the invitation to attend the Iraq Investment Forum to be held at the beginning of October this year. He pointed out that many Bangladeshi companies want to enter the investment process in Iraq, as the ambassador presented.

‏رئيس الهيئة الوطنية للاستثمار يترأس اجتماعاً لمناقشة تحضيرات ملتقى العراق للاستثمار الاول من نوعه في العراق.

‏رئيس الهيئة الوطنية للاستثمار يترأس اجتماعاً لمناقشة تحضيرات ملتقى العراق للاستثمار الاول من نوعه في العراق.

‏ترأس رئيس الهيئة الوطنية للاستثمار الدكتور حيدر محمد مكية اليوم الثلاثاء 16/7/2024 اجتماعا مع رئيس المجلس الاقتصادي العراقي الأستاذ إبراهيم البغدادي والوفد المرافق له بشأن التحضيرات ملتقى العراق للاستثمار والمزمع عقده في تشرين الثاني من العام الحالي وبحضور عدد من السادة المديرين العامين والمعنيين في الهيئة .

‏وأكد رئيس الهيئة الوطنية للاستثمار خلال الإجتماع ضرورة التنسيق مع الجهات الحكومية والقطاع الخاص والقطاعات الاقتصادية الرئيسية للمشاركة والمساهمة الفاعلة في الملتقى وكذلك التنسيق مع هيئات الاستثمار في المحافظات بشأن الفرص الاستثمارية المستكملة الموافقات حيث سيتم التركز خلاله على جذب المستثمرين ورجال المال والإعمال الجادين، فضلاً عن طرح فرص إستثمارية جديدة وفي قطاعات مختلفة.

‏وناقش المجتمعون تفاصيل برنامج الملتقى والترتيبات التنظيمية واستعراض الحوافز والتسهيلات الاستثمارية التي ستقدمها الحكومة للمشاركين في هذا الملتقى وآليات المتابعة والتواصل بين الهيئة الوطنية للاستثمار والمجلس الاقتصادي العراقي .

‏وبين الطرفان أهمية هذا الملتقى في تعزيز جهود جذب الاستثمارات الأجنبية المباشرة وتحفيز الشركات الاقتصادية وذلك في ظل التطورات الإيجابية التي تشهدها البلاد على صعيد الاستقرار الأمني والإقتصادي ، مشددين على المزيد من عقد الإجتماعات التنسيقية لضمان نجاح هذا الملتقى الاستثماري الاول في العراق.

Attention: Waste Treatment and Electric Power Generation Project RFP Requirements Submission Announcement

To all investors and international companies who have applied for the investment opportunity to build a waste power plant with high-efficiency grid total burning technology (fourth generation upwards) in Baghdad Governorate / Nahrawan region and have been informed of their qualification for the second phase of the project via official correspondence from the authority: Please submit all documents related to the technical and commercial offers (RFP) for the investment opportunity mentioned. The deadline for submission is Sunday, 11/8/2024, at 12 noon Baghdad time at the headquarters of the National Commission for Investment.

NIA Chairman discusses the Climate Investment Plan (CIP) with the United Nations Development Program (UNDP)

NIA Chairman discusses the Climate Investment Plan (CIP) with the United Nations Development Program (UNDP)

The President of the National Investment Authority (NIA), Dr. Haider Mohammed Makkiya, met on Thursday with the United Nations Development Programme (UNDP) team headed by Mr. Mamunur Rashid, the Environment, Energy, and Climate Change Program Portfolio Manager.

During the meeting, they discussed efforts to enhance cooperation between KDIPA and the United Nations to improve the country’s investment environment. The importance of social and environmental justice and considering citizens’ right to climate change and investment.

During the meeting, the Chairman of the Authority explained the role of the National Investment Authority in providing investment opportunities that would reduce emissions, including solar energy, where the Authority granted an investment license for a solar power plant to the French company Total to produce 1000 MW of electrical energy, and work is underway on solar energy projects in cooperation with the Ministry of Electricity.

Makiya emphasized that Iraq is currently an attractive environment for foreign investments. In addition, Iraq is among the countries that have incorporated into their laws the recognition of foreign judgments. He pointed out that KDIPA is currently working with the United Nations Development Program (UNDP) to prepare a climate investment plan in cooperation with the concerned sectoral entities.

National Investment Authority will host the third technical team meeting of the National Climate Investment Plan.

National Investment Authority (NIA) hosts the third meeting of the technical team for the National Climate Investment Plan

On Thursday, 11/7/2024, the National Investment Authority (NIA) hosted the third meeting of the technical team of the National Climate Investment Plan (NCIP) in cooperation with the United Nations Development Program (UNDP).
Dr. Mona Al Jabri, head of the technical team representing KDIPA, stressed that this meeting is a continuation of previous meetings in preparation for the launch of the plan. This is part of efforts to promote sustainable investments that consider climate impacts.
Al-Jabri explained that this meeting was conducted to study the progress made in the implementation of the National Climate Investment Plan. And exchange views on the challenges and opportunities in this field. The cooperation between KDIPA and UNDP reflects Iraq’s commitment to achieving sustainable development and addressing climate challenges through thoughtful and sustainable investment strategies.
The meeting, which was attended by representatives from climate change ministries (finance, higher education. construction and housing. Environment, Agriculture Ministry of Planning. Baghdad Municipality, Industry Iraqi Engineers Syndicate. transportation. Iraqi Contractors Federation ) Set clear goals for the climate investment plan, how to achieve them, the sources of financing available for climate projects, and how to attract foreign and local investments. To ensure the success of the plan’s projects. As well as discussing the data of the projects that were shared by the ministries.
The meeting reviewed the latest technologies and sustainable solutions that can be applied in future projects. In addition to strengthening cooperation with international organizations and donors to exchange knowledge and expertise to confront the threat of desertification as a result of water shortages. and unsustainable farming methods. and climate change leading to rising temperatures and decreasing rainfall.

The National Investment Commission holds a specialized workshop to discuss Iraq’s vision for green and blue hydrogen production and its impact on Iraq’s economy.

The National Investment Commission holds a specialized workshop to discuss Iraq’s vision for green and blue hydrogen production and its impact on Iraq’s economy

Today, Thursday, 4/7/2024, the National Investment Authority hosted a specialized workshop to discuss Iraq’s vision on the production of green and blue hydrogen and the products that go into different sectors and its impact on Iraq’s economy in the presence of the Prime Minister’s Advisor for Energy Affairs and the Undersecretary of the Ministry of Water Resources, with the participation of several representatives of ministries (Science and Technology. environment. Agriculture. water resources. industry and metallurgy. oil. The Board of Advisors and the German Cooperation Organization. As well as the Authority’s advisors.

During the workshop’s opening, the Chairman of the National Investment Commission, Dr. Haider Mohammed Makkiya, said that Iraq’s vision to promote the use of green and blue hydrogen as part of its strategy to develop the national economy is part of the government’s directions in developing Iraq’s 2030 climate vision, which aims to diversify energy sources and turn to clean and renewable alternatives.

He added that this is an essential step in diversifying energy sources as hydrogen is a clean and sustainable source of energy and can help reduce dependence on fossil fuels. achieving sustainable development and transitioning to an economy that relies on clean energy, minimizes negative environmental impacts, and improves air and water quality.

He noted that the development of new industries linked to hydrogen production, in addition to creating new jobs and boosting the local economy. Hydrogen can help meet the growing demand for energy in sustainable ways.

The workshop included a review of Iraq’s plans for renewable energy and biofuels and their effects on economic development. It also discussed the challenges in developing this sector, excessive dependence on oil, and moving towards alternative energy.

The workshop focused on the importance of continuity of work and cooperation to achieve Iraq’s clean energy vision. Future workshops will be held to track progress and discuss new developments in the field.

National Investment Authority Chairman meets with Chinese companies

National Investment Authority Chairman meets with Chinese companies.

The Chairman of the National Investment Commission, Dr. Haider Mohammed Makiya, met today, Thursday, 4/7/2024, with several Chinese companies represented by (Shanghai Electricity Group SEC, China Construction Company / Third Bureau CSTBEC, China Heavy Equipment Company CAMCE, China Petrochemical and Refineries Company CNCEC). which has a trade volume of nearly 100 billion dollars.

The head of KDIPA welcomed the Chinese delegation. outlining the organization’s strategic plan for the delegation in the coming period. He reviewed the available investment opportunities that will be launched during the work of the Iraq Investment Forum to be held in early November of this year.

For their part, the Chinese companies presented proposals to open the horizons of cooperation with the National Investment Commission in several fields, the most important of which are solar energy, wind energy, hospitals, universities, fiber optics, semiconductors, and residential and recreational complexes.

The Chinese companies extended their thanks and appreciation to the National Investment Commission and its head, Dr. Haider Mohammed Makkiya. and extended an official invitation to him to visit China.

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

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.

 

“Announcement of Investment Opportunity No. (1) for the year 2024.”

“Announcement of Investment Opportunity No. (1) for the year 2024.”
To create an investment project for a (horizontal and vertical residential complex).
According to the Investment Law No. (13) of 2006 and its amendments, regulations, and related instructions, as well as the Council of Ministers’ decision numbered (245) of 2019 amended by the Council of Ministers’ decision numbered (23374) of 2023, The National Investment Authority, in collaboration with the Military Industries Authority, announces an investment opportunity to establish a residential project (horizontal and vertical complex) on plot number (1/6/m 28) in the Tajiya district. The plot area is (266) dunams and is owned by the former Al-Karama Company (currently the Al-Karama factory). The announcement period is 30 days from the date of (15/1/2024).
Investment companies and investors interested in applying for this opportunity should submit their applications to the National Investment Commission headquarters located in Baghdad’s Green Zone, adjacent to the Turkish Embassy. They are required to buy the investment portfolio for a fee of 1,000,000 Iraqi dinars.
If you have any questions, please contact us by phone at 07721111541 or by email at oss@nici.gov.iq.
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Legal requirements should be submitted in a sealed envelope by Tuesday, February 13th, 2024 at 1:00 PM. The submission must include an economic feasibility study in Iraqi dinars, approved by an accredited consulting office and the headquarters of the accounting union. A timeline for completing the project. Please provide the original text in Latin script so that I can accurately translate it for you. “The financing plan for the project is linked to the guarantee of an authorized financial institution.”
Documents required are the original company establishment certificate with certified company papers as well as the investor’s documents. Additionally, any executed company documents should be submitted if available.
Please provide the text in a language that I can understand and rewrite.
“The designs presented should contribute to the development of the area and keep up with the cultural progress.”
“The requirements of the beneficiary party are essential and governing in analyzing investment offers.”