National Investment Commission ….  The continuation of the offer of reducing the down payment of Bismayah housing units

 

 

NIC decided to continue in its plan to reduce the down payment of Bismayah residential unites amounting (10%) from the total value until 31/12/2014 according to citizens’ desire.

The NIC Chairman Dr. Sami –al Araji said that many citizens’ requests had been received  through E-mail and telephone demanding  to  continue in  reducing  the down payment  to be (10%) after it was (25%) to enable them to reserve their  housing units in the biggest project in the Middle East, adding that the work is proceeding according to schedule prepared by  NIC and  the executing  company of the project .

Al Araji indicated that the citizens can visit the registration centre of the project on the land of Baghdad International Fair to see the residential unites models with their natural areas and to get answers for all questions every day except Friday from 9 a: m till 4p: m, referring to the many field visits to the project site organized by NIC to the registrars to see the workflow, and it is possible for anyone to visit the project after registering his name in the registration centre.

 

 

 

 

 

 

A group of the Technological University Professors and Students Visit BNCp

Within the program prepared by Hanawah Co. in coordination with the NIC to receive the students of Baghdad and the Technological Universities in order to view the latest construction technologies applied in Bismayah New City project, a group of professors and students of the Technological University visited the project’s site.

The group saw the concrete network under the ground (the tunnel) which length reaches 20 km and contains the electrical cables and telecommunication lines, and they also saw the process of tamping the steel piles in the ground allocated for the housing units, the first patch of which are to be delivered at the beginning of the year 2015.

After walking through the project, they visited the PHC Pile Plant, which is considered as the first of its kind in Iraq and the Middle East, and the pre casting plant, which is considered as the biggest in the world, with having detailed explanations about employing the modern technology in the plant and the construction site.

At the end of the trip, the group expressed their happiness to see the construction of such edifices in the country by using modern technologies that refers to Iraq’s opening up to the international development.

With in the Process of Completing BNCp Infrastructure

Opening the Biggest PHC Pile Plant in the Middle East     

NIC announced opening the PHC pile plant by Hanawah, the executing company of the project of Bismayah New City supervised by the National Investment Commission, which is one of the supporting plants for the pre casting steel plant being constructed on the project’s ground.

A source in the company assured that the plant is the first of its kind in the Middle East where piles are produced according to the latest international technologies explaining that producing piles goes through several stages starting with formulating the steel mould as a cylindrical column, where as the second stage includes filling the mould with the steel with fast rotating to obtain high durability, while in the third stage the piles are dried by special steam furnaces.

The source added that the production capacity for the plant reaches 200 piles a day, referring that the current month witnessed making the first experiment process of tamping the steel piles in the housing block number (A1) in Bismayah New City which was fully successful and attended by Hanawah staff, the resident engineer and the NIC media office.

The source also said that after a week of extensive experiments, they started tamping the soil using the produced piles in the first residential complex in the city representing the first step in launching the construction of the housing units in Bismayah New city.

Worth mentioning that Bismayah New City project includes constructing 100 thousand housing units with all related services according to latest world specifications and the project is part of an ambitious plan by the NIC to build 1 million housing units all over the country, approximately 250 thousand units of which is Baghdad’s quota.

During the OECD Conference in Paris

Iraq is Elected to Chair the Mediterranean Investment Protection Program Working Group 

investment program  in Middle East and North Africa, dependent to (OECD), held a conference in Paris on 9/12/2013 under the title (Protecting  investment in infrastructure in the  Middle East and North Africa area: Minimizing risks in the times of instability ) with the participation of the representatives of  (OECD ) member states and countries in the region , including Iraq as well as representatives of a number of important international institutions such as World Bank, European Investment Bank, EU Commission , Mediterranean  Union and so on .

The conference discussed the best means to facilitate the investment process in infrastructure projects in Mediterranean and  the Middle East by  the private sector since the (OECD) believes  that   infrastructure is a key element of the Investment environment  and a significant contributor to create jobs in addition to the growing demand for  infrastructure which is hampered by low investment by private sector in large-scale projects as a result to  international economic conditions and instability in some states in the region .

The conference focused in particular on using the partnership between public and private sectors structures, arbitration and ways of expanding utilizing of the currently available investment guarantees tools.

During the conference the official launch of Investment Protection Program Working Group was done which is part of the investment program in the Middle East and North Africa.

As, a representative of Iraq , NIC Chairman, Dr. Sami al-Araji  participated in the conference in addition to Iraq ambassador in Paris Dr. Fred Mustafa , when during the first session of the conference Iraq and France  were chosen for chairing the group .

The NIC Chairman, in his speech, expressed his deep thanks and gratitude to choose Iraq for chairing the group, the matter that indicated the organization’s appreciation to Iraq’s achievements, in rehabilitating its economy and creating encouraging investment environment that contributes to the process of rebuilding Iraq, and the OECD’s desire of strengthening Iraq’s role in the organization.

He indicated that choosing Iraq to be a head of a working group deals with investment protection sends a strong message to the investor about Iraq’s faith in investment importance to rebuild the country and its commitment to guarantee the investor’s rights.

Al- Araji also reviewed the cooperation between (OECD) and NIC which began since 2010 in important  fields as executing the investment cities projects and different   infrastructure projects, he also reviewed Iraq achievement in economic sphere during the last five years which witnessed intensive work  in spite of difficulties ,referring that Iraq had succeeded  in achieving a growth rate of 9% in 2012 and reduced the unemployment rate to 11% and the rate of poverty to be 19%, he also pointed to the big attention  Iraq Government is paying to infrastructure development, as , water and sanitation, Electricity, Health , Education , Railways , Ports , Airports , Communications and so on adding that there are  many ongoing  projects and a large part of the budget of the current five-years plan (2013-2017)  had been allocated  to  infrastructure and rehabilitating economic sectors .

He also stressed that the NIC establishment  in 2007 came as a result to Iraq’s great interest in attracting investments by setting the suitable business environment  and  it  is determined to create a legislative environment  appropriate to investment  and the investment  law was the most important step on this road describing the current investment  system with comfortable  though it was not perfect  while the Iraqi economy is still in a transitional stage from centralized economy to market economy; whereas GOI is looking forward to accomplish more .

Al-Araji also talked about the current existence of the foreign investment in Iraq and the continuous economic delegations visits to Iraq describing it as an important indicator to Iraq’s desire to attract more investors.

At the end of his speech the NIC chairman repeated his thanks and gratitude to (OECD) to select Iraq to be the head of Investment Protection Program Working Group and invited them to hold the next meeting in Baghdad.

Announcement

Ministry of telecommunication in coordination with the National Investment Commission is delighted to announce for all Iraqi and Foreign investors the opportunity to invest the lands belonging to the Ministry, which its details are specified in the below table, in accordance with the investment law No. 13 for the year 2006 as amended and its regulations.

Interested investors can submit their applications to the National Investment Commission through the email (oss@investpromo.gov.iq ), within a period of 30 days starting from the date of publishing this announcement, please take into consideration that the ground floor of the investment project is to be exclusively constructed and designed as a post office.

Online address information:

–         The National Investment Commission’s Website: www.investpromo.gov.iq

–         Ministry of Communication’s Email: office_mng@moc.gov.iq

Information Table for The Proposed Investment Opportunities

Note: Olk =100 M2

 

 

Within the Framework of the Iraqi- French Business and Investment Forum

Baghdad Hosts Major French Companies- MEDEF International Members

 

The Iraqi – French Business and Investment Forum works started in Baghdad on the 25^th of November 2013 and continued for two successive days under the patronage of H.E. Prime Minister, Mr. Nuri Kamil al- Maliki and with the attendance of Deputy Prime Minister for Energy Affairs, Dr. Hussein al- Shahrestani, a number of Iraqi Ministers, Parliament members and those involved in the economic sector in Iraq.

Dr. al- Shahrestani initiated the Forum with a speech through which he emphasized that the government had been keen during the previous years to achieve the gradual and thoughtful economic transformation in the various fields in Iraq and especially investment field which had witnessed legislating the investment law no.13 for the year 2006 that submitted required guaranties for investors and contributed to supporting and encouraging them through many incentives represented by tax exemptions, customs facilitations necessary for goods entrances and exits, facilitating capital movement and allocating lands required for the investment projects.

The government of Iraq had set a plan for an overall economic development in Iraq for the years 2013-2017 concentrating on diversifying the economic resources and constructing a solid economic foundation that covers all sectors.

In the energy sector, al- Shahrestani clarified that a plan had been set to construct new power stations, the capacity of which shall exceed 20 thousand MW. These power stations had already been introduced to service to add electrical capacity for the national grid production the matter that helped in continuous power provision; he also announced that the government had taken for the first time the decision to invite Iraqi and foreign investors to invest in the electrical power provision sector to build new power stations on the basis of (I.B.B). The government also is currently studying the possibility of privatizing the electrical distribution sector and the oil derivatives distribution sector which are considered new opportunities for local and foreign investors.

In the Oil sector, the Deputy Prime Minister referred to the large increase achieved in oil production not only on the level of Iraq but also on the world level after succeeding in finalizing the licensing round through which big famous international companies had participated in the extraction process in Oil fields.

He also referred to the opportunities available to develop the Iraqi industrial sector which focuses on petrochemical and fertilizers production, with 7 MOUs signed with big international companies in these fields, in addition to other available investment opportunities in the sectors of transport, housing and others inviting French companies to study cosiderig Iraq as a principal site for producing and marketing their products in the middle east promising to find all required support and capacities.

NIC Chairman, Dr. Sami al- Araji opened the Forum works with a welcome speech asserting the importance of attending this big number of French businessmen which reflects their confidence in Iraq’s capability to overcome all difficulties.

French Ambassador, Mr. Denys GAUER said in his speech that France is of the first countries that had resumed its relations with Iraq after 2003 and had always been committed to provide support for the reconstruction process after decades of suffering and isolation.

Mr. GAUER added that French companied were encouraged to return to the Iraqi Market with putting all state capabilities under their disposal in order to support the external trade, stating that open policy was adopted in the field of granting entry visas for Iraqis aiming at facilitating their visits to France.

The Forum works included an extensive session held in the first day of the forum under the title of “Doing Business in Iraq” chaired by Minister of Trade ad NIC Chairman and focused on available investment opportunities.

While the second day included 2 sessions, the first, chaired by Mr. Ihsan al- Attar- Deputy Minister of Oil, on the sectors of Energy, transport, infrastructures and industry, while the second session was, chaired by Mr. Ameer al- Baiaty- Deputy Minister of Telecommunications, on telecommunications, health, banking and insurance. The 2 sessions were followed by networking session between the two sides aiming at laying down visions and objectives required to create solid partnerships.

Under the patronage of H-E Prime Minister Nuri Al Maliki

The National Investment Commission holds the Iraqi- British Business and Investment Forum

With the presence of the Prime Minister Nuri Al Maliki, the Iraqi- British Business and Investment Forum works began in Baghdad on Monday 18/11/2013 which was initiated with the Prime Minister speech, who stressed the importance of holding such forums, which is an extension of the first forum that was held in London in 2009 that witnessed the foundation of the Iraqi- British Business and Investment Council

Prime Minister stressed the Iraqi Government desire to take advantage of the expertise of the British Universities, British companies and Businessmen who attended the forum through their participation in implementing the available investment opportunities in all Iraqi sectors through the economic, constructional and developmental program Iraq is witnessing.

Al-Maliki expressed his gratitude and appreciation for the health initiative presented by the British side to prepare an integrated and developed health system that meet the needs and respond to developments in accordance with the scientific bases and the internationally adopted programs .

Explaining the interest in the process of reconstruction and investment comes at the forefront of the Iraqi government priorities after countering-terrorism.

 And Iraq while seeking to increase its revenues from oil and gas, it does not aspire to its economy to be unilateral but, to exploit these  revenues to develop other sectors for economic diversity that increase the construction, development and reconstruction  processes which require more concerted  efforts  with the British companies with experience and competence .

The NIC Chairman, Dr. Sami Al- Araji, in his speech, welcomed guests reviewing the economic relations between Iraq and the United Kingdom that began at April 2009 at first London conference , then he divided the   conference events to three sessions the first one dealt with available investment opportunities in power sector the second discussed the Health and Education sector while the last  one devoted to investment in infrastructure and housing .

From his part the Deputy Prime Minister ,Dr. Roze Nuri Shaways , reviewed number of economic  developments that have been made in Iraqi arena such as removing Iraq from Chapter VII of the UN Charter , approving the five-years development plan of Iraq (2013-2017), issuing  economic reform law and opening Baghdad International Fair in its new session stressing the urgent Iraqi economic need to diversify economic resources through diversifying the funding resources through encouraging local and foreign private sector to achieve the future visions in building an  economy consisting of the active partnership between the state and the private sector in development sides and creating new job opportunities instead of totally  depending on oil revenues .

Indicating that the amount allocated to investment spending in the five-years development plan (2013-2017)is (350) billion dollars and (54) billion dollars for the year 2014 ,expressing his optimism about Iraq’s future for its prominent position among the oil-exporting countries compared to  other countries.

in the other hand Iraq has competitive potential in other industries like Iron, phosphate ,silicate and many sites that contains limestone used in the cement industry, asking owners of capitals and companies to contribute to achieve these investment  plans.

From the British side, the Deputy head of Mission in Iraq, Mr. Mark Bryson- Richardson showed that the United Kingdom has three priorities for action in Iraq the first one to support the Iraqi efforts to establish positive relationship regionally and internationally, the second represented by reinforcing  security and stability and the last one deals with supporting and launching  the Iraqi capabilities for a better future.

The forum included a speech for Baroness Emma Nicholson chief executive of the Iraqi- British Business Council, and Mr. Hussein Zangana, the Chairman of the Federation of Industries after that the two sessions of the forum started to end by bilateral extensive meeting between Iraq and British side .

Announcement

Ministry of telecommunication in coordination with the National Investment Commission is delighted to announce for all Iraqi and Foreign investors the opportunity to invest the lands belonging to the Ministry, which its details are specified in the below table, in accordance with the investment law No. 13 for the year 2006 as amended and its regulations.

Interested investors can submit their applications to the National Investment Commission through the email (oss@investpromo.gov.iq ), within a period of 30 days starting from the date of publishing this announcement, please take into consideration that the ground floor of the investment project is to be exclusively constructed and designed as a post office.

Online address information:

–         The National Investment Commission’s Website: www.investpromo.gov.iq

–         Ministry of Communication’s Email: office_mng@moc.gov.iq

Information Table for The Proposed Investment Opportunities

Note: Olk =100 M2