With The Attendance of HE Prime Minister Nuri Al- Maliki
NIC Chairman Signs the Deal of Constructing 100 Thousand Housing Unit in Baghdad

Iraqi Prime Minister HE Nuri Al- Maliky assured his desire to see the implementation of the project as soon as possible in order to build one million housing units and to perform major projects in other fields.
The Prime minister’s speech came during signing the agreement of building 100 thousand housing units in Baghdad with Hanwah Engineering & Construction this last Wednesday.
NIC Chairman in his turn Dr. Sami Al- Araji, who signed on behalf of the Iraqi side, said that signing this contract is the beginning of the project of building one Million housing units throughout Iraq, the agreement which was supported by the recent visit of Prime Minister Maliki to South Korea
Dr. Sami added that this project will begin soon in the land that had been allocated for this purpose in Bismaya (south east of Baghdad) and covers part of the share of housing units allocated to Baghdad which is 224 thousand of the total one million housing units. He stressed that this project will house approximately 600 thousand residents and will provide them with all the services.
Mr. Hyun-Chung Kim, CEO & Vice Chairman of Hanwha expressed his great satisfaction with the signing of this agreement and affirmed that work will begin immediately at the site.

In Coordination with the Ministry of Electricity and a Number of Energy Specialists
NIC Hosts a Workshop to Improve and Regulate the Electricity System in Iraq

A workshop to improve and regulate the electricity system in Iraq was held in the NIC premises in Baghdad on the 16th of May 2011 in coordination between the Ministry of Electricity, the NIC, USAID and the Economic section in the US Embassy.
The workshop works was opened by a speech for the Minister of Electricity Mr. Raad Shalal through which he presented his Ministry’s central plan for the years 2011-2015 for comprehensive and central reconstruction process of electricity system that is compatible with global standards with a clear vision for the needs and priorities of the electricity sector on the short and long runs explaining that this plan is depending on two key sectors, the first is represented by rehabilitating the working power producing stations while the second is concentrating on constructing new power stations (Gas, steam and Diesel).
Minister of Electricity also mentioned that in order to treat the current shortage in supplying the electrical power for consumers the Ministry had laid down an urgent plan to insert 5000 MW of diesel units to be operating during the 2012 summer, hoping that establishing these units will provide additional six hours of power supply to reach the extent of supplying 16 hours/day by 2012.
NIC Chairman in his turn assured that the electricity sector is a key vital one and there are different visions of how to run it economically and administratively within the state trends of adopting the market economy.
In this context, NIC had always been careful to host the elite of those concerned in the Ministry of Electricity, USAID and the economic section in the American Embassy in order to discuss how to make real development whether in administrative or economic side to ensure reaching the citizens’ actual need noting that this project is the start that will take several years and that reforms had started in production and have to extend to include transmission and distribution of power.
Mr. Adel Hameed, the MOE advisor assured that the Ministry had announced its investment plan that aims at adding 2750 MW for locations in Shat Al- Basra, Umara, Samawa and Diwania, in this concern, efforts had been done in cooperation with NIC and the Ministry is in the process of announcing the wining offers as the forthcoming short term will witness announcing the final candidate for each station of the four.
On the same context, Mr. Allen Aisne, the USAID expat presented some of the forms globally adopted and suggested to improve electricity sector in Iraq which include establishing new governmental departments for electricity and privatization according to six years administrative contract to overcome the electricity shortage with adopting some of the competitive forms that had succeeded in a number of the world countries referring in the same time to the importance of taking in to consideration some important points in improving the electricity sector like the computerized system of price determining in addition to examining the individual purchaser system adopted all over the world.
The meeting was also attended by Mr. Dell Abler, the economic council in the American Embassy in Baghdad.

During the Conference of Investment Business
NIC Presents a Presentation on Investment Climate in Iraq

NIC participated through a specialized delegation headed by the Commission’s economic advisor in the conference held in the Netherland’s Chamber of Commerce with the participation of a number of investors and businessmen and companies specialized in sectors like (Housing, Agriculture, Industry and Tourism), the conference was also attended by the Iraqi Ambassador in Netherlands and the Netherlands Ambassador to Baghdad. Investment Climate in Iraq was reviewed during the meeting including the most important available investment opportunities in Iraq, Investment law No. 13 for the year 2006 was also made clear during the conference in addition to explaining the statute No. 7 for the year 2010.
The initiation of holding such a meeting was highly welcomed by the Dutch companies which did not know anything about the investment climate in Iraq and many of these companies showed the willingness to have more details about the available investment opportunities in Iraq in order to be able to enter Iraqi market to invest.
The Iraqi Ambassador to Amsterdam and the Dutch Ambassador to Baghdad highly appreciated the NIC participation which contributed a lot to make the meeting a success which had lasted for 2 days form 11th -12th .Apr.2011.

During Heading the Investment and Trade Forum for Supporting the Private Sector
NIC Chairman .. We work to Create Economic Partnerships between Iraqi Public and Private Sectors

NIC Chairman, Dr. Sami Al- Araji assured that the commission is working hard to motivate the self funded productive sector to be companies ready to compete after rehabilitating and restructuring these companies in order to support the Iraqi private sector to take its important role.
He added, during the opening remarks of the Investment and Trade Forum on the 9th of

April.2011 organized by NIC in cooperation with the Iraqi National Business Council through
which NIC hosted the elite of the Iraqi businessmen residing in UAE (the Iraqi Business Council in Abu Dhabi), that There are a number of fundamental bases which are worked on heavily and continuously represented by implementing the huge development plan first laid down after 2003 that concentrates on how to achieve integration between the country’s resources and what kind of investment could be attracted to reconstruct the country in harmony with the five year plan 2010-2014 which concentrates on infrastructure and the main economic development projects which estimated cost is 186 Billion $, 100 billion $ of which had been allocated from the capital budget (Oil revenues) while 86 billion $ cost projects will be announced for investment in different forms. Dr Sami also referred to the investment map which NIC is serious to update for the third time with the intention to make the updates in a half yearly manner to monitor all developments assuring the importance of reconsidering the concept of small and medium industries and ways of financing them and how it resurrect the idea of establishing (Investment Fund) adopted in many countries especially oil producing ones.
Mr. Ibraheem Baghdadi, Chairman of the Iraqi National Business Council referred, in the speech he gave during the Forum, to the development touched in the investment process in Iraq and the big opportunities offered to investors in various fields which makes it a successful experience especially after the courageous decisions ratified by the Ministers Council and the Parliament helped by NIC and INBC
Vice Chairman of Economy and Investment Committee in the Iraqi Parliament, Mr. Muhammad Salman Al- Saady presented the most prominent features of the new economic philosophy which gives the private sector high importance in the economic process through the articles of the Iraqi constitution which guarantees the reform of the Iraqi economy according to modern economic basis, assuring that the economic and investment committee in the Parliament works in an organized way with the executive sides in charge of investment file in Iraq especially NIC in order to specify laws and legislations that put obstacles in the way of investment in order to reform them and submit them to the Iraqi Parliament to be ratified in a way that serves to make the Iraqi investment process a success.
On the sidelines of the second session of the Forum (the Ministry of Trade role in supporting the private sector) Mr. Ali Al- Dabagh said that the government is paying special attention to the Iraqi private sector to make it a strategic partner in the investment process and not only an agent or service provider encouraging the idea of establishing investment funds since it will represent savings that contribute to bridging the deficits in the important economic fields.
NIC Chairman presented during the works of the first session of the Forum the investment opportunities available in Iraq and the possibility of participating in these opportunities in 10 vital sectors (Oil & Gas, Industry, Agriculture, Telecommunication, Transport, Education, Health, Housing, Infrastructure, Electricity and Tourism) in addition to that a presentation of the valid laws and legislations was also given .
Worth mentioning that two of the members of the Iraqi Parliament Dr. Salman Al- Musawi and Mr. Ibraheem Al- Rikabi attended the Investment session while the second session was attended by the member Abdul Abbas Al- Saaedy and Ms. Suwaiba Zangana, Trade Deputy Minister.

During His Meeting PICs Chairmen and Representatives
NIC Chairman Assures the Necessity of Establishing a Unified Vision for Investment requirements in Iraq

NIC Chairman Dr. Sami Al- Araji assured the necessity of establishing a unified vision and a clear picture for the investment requirements in each province through continuous coordination between all concerned departments in the province represented by the provincial councils and investment commissions and committees adding that investment is not a substitute for the capital budget but is a complementary and supporting to reach the desired goal.
He also overviewed during his meeting with the PICs chairmen problems and obstacles facing investment committees in the provinces with the suggestions to eliminate these obstacles assuring the importance of getting these committees acquainted with the investment plans in the provinces to show their opinions and submit the needed support since they are considered as part of the investment process.
Dr. Araji followed up the details of applying the first amendment (1) for the year 2011 on the statute of selling and leasing the state owned lands for investment purposes number (7) for the year 2010 after publicizing it to all PICs which includes possessing land for housing purposes by investor freely provided that the land value is not estimated when selling housing units to Iraqi people , while leasing state lands with tiny rates of its real value in other sectors the matter that represents encouraging incentive to invest in Iraq.
Within the framework of following up preparing lands for investment purposes, Dr. Sami made clear that NIC is currently following up problems that hinders allocating lands with the possessing sides and finding the suitable solutions for these problems according to the valid laws in coordination with the concerned departments represented by the Ministries of Municipalities and Finance referring to the meetings to be held in this regard as Mr. Saleh
Al- Mutlaq – Deputy Prime Minister will meet in the 11th of the current Month with the
attendance of the State Minister for Provincial Affairs and NIC chairman with the provincial investment commissions and committees, while another enlarged meeting will be held the next day with the Minister of Finance and other officials concerned with lands allocation issue in a serious step to solve all problems facing allocating lands for investment purposes.

Aiming at expanding Means of Economic Cooperation between the two Countries
NIC Chairman Receives a South Korean Parliamentary Delegation

NIC Chairman, Dr. Sami Al- Araji received Ms. Park Soon Ja, Member of the South Korean Parliament and head of the Iraqi- Korean Parliamentary Relations, and the accompanying delegation and discussed the possibility of reinforcing means of economic and investment cooperation between the two countries.
NIC chairman said during the bilateral discussions that Iraq is currently witnessing a huge economic movement for the enormous encouraging attractive investment incentives assuring that Iraq and South Korea always had good economic relations and that lots of Korean companies had shown their readiness to work in Iraq through diversified investment partnerships.
The head of the Korean delegation in her turn expressed her happiness with this meeting and the attendance of important members from the Iraqi Parliament like Mr. Muhammed Salman, Dr. Salman Al- Musawi and Mr. Ibraheem Al- Rikabi, and referred that the project of building One Million Housing Unit all over Iraq is a vital and important one for Iraq in one side and for the Korean companies in the other side for the positive impact it will leave on the cooperation prospects between the two countries.
The meeting was also attended by the South Korean ambassador to Iraq Mr. Park Soom Boom.