NIC Hosts Economic Negotiations with the Finland Delegation Headed by Minister of Foreign Trade and Development

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With the Attendance of the Deputy Prime Minister for Economic Affairs and a Number of Ministers
NIC Hosts Economic Negotiations with the Finland Delegation Headed by Minister of Foreign Trade and Development

Deputy Prime Minister, Mr. Rodj Nuri Shawees assured that Iraq is anxious to foster links of economic cooperation and trade in the fields of Housing, Industry, Agriculture, Health, Education, Trade and Telecommunication with the Republic of Finland.
Mr. Shawees said in a press conference held Wednesday 6. Apr.11 at the NIC premises, with the attendance of Mr. Paavo Väyrynen, Finland Minister of Foreign Trade and Development- Head of the Finland Delegation and Dr. Sami Al- Araji, NIC Chairman, that the negotiations made were about prospects of cooperation and facilities made available for investors in Iraq with the plan adopted to reconstruct Iraq as the Iraqi Government had shown its full readiness to submit the necessary facilities to encourage Finnish companies to launch the promising Iraqi market.
Head of the Finnish delegation in his turn expressed his happiness to reactivate the bilateral relations between the two countries assuring that Iraq has certain privacy and differs from Finland and they need new partnerships with Iraqi local private sector and sometimes with the public sector especially if the start would be in the industrial sector where the need for a partner would be critical.
In the same context, NIC Chairman clarified that the commission is currently working to submit all the required facilities for investors in the various fields in a way that contribute to reconstructing Iraq.
The meeting was also attended by the Iraqi Ministers of Trade, Transport, Telecommunication and Education in addition to Deputies, advisors and DGs in several other Ministries when prospects of mutual interest were discussed with the visiting delegation.
It is also worthwhile to mention that the Finnish delegation had included representatives of the Industries council, the Finnish Technological Industries Union and representatives of the biggest companies like (Nokia Siemens) and companies specialized in construction, agriculture, environment and climate monitoring.

NIC Forms a Committee to Draw a New Investment Strategy in Iraq

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NIC Forms a Committee to Draw a New Investment Strategy in Iraq

NIC formed a committee that included Babil, Anbar and Basra investment commissions in order to draw a new strategy for investment commissions’ work within the 100 days plan which had been set by the Iraqi Prime Minister to improve the ministries and independent commissions work.

Mr. Haidar Ali stated that the committee newly formed is determined to apply a specialized program that includes three stages starting from the stage of the 100 day plan and the period that follows this plan and the long term plan.

Mr. Ali added that the goal behind forming this committee is to redraw the investment map according to the directives given by the NIC chairman who also directed to finish the new investment map in the 10th of April 2011 in order to be ratified by the concerned sides.

He continued that after ratifying the new strategy by the NIC all PICs will be working according to its directions, he also added that the committee will practice all its activities within the coming two weeks from the NIC premises in Baghdad for the purpose of laying down a work mechanism to act with the ministries that own most of the investment lands and to come up with a complete business plan that facilitate procedures in the forthcoming period.

He added that the most important task of this committee is to minimize red tape to simplify procedures needed to obtain approvals and lands.

Muthana Investment Commission Grants a License to Construct a Housing Project of 70 Billion ID Cost

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Muthana Investment Commission Grants a License to Construct a Housing Project of 70 Billion ID Cost

Muthana Investment Commission granted an investment license to Barakat Al- Ziyadi local company to construct a housing project in the governorate.
MIC Chairman, Mr. Adel Al- Yasiry said that the project cost is 70 billion ID with an implementation term of 24 months adding that the commission had already granted 4 other investment licenses in housing, commercial and industrial sectors referring that the implementation term of these projects goes between (18-36 Months)
He continued that another license had been granted to construct a plant for sand production and lithotripsy.
Al- Yasiry stated that the total number of the investment licenses granted by Muthana Investment commission reached 49 licenses in various investment sectors assuring that lots of these are under construction.

Babil Investment Commission hosts a meeting for Provincial Investment Commissions

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In Order to discuss investment problems
Babil Investment Commission hosts a meeting for Provincial Investment Commissions

A number of investment commissions’ chairmen discussed some of investment topics during a meeting held in Babil Investment Commission and run By Mr. Ala Harba, BIC chairman.
Statute No. 7 and the range of its impact on investment projects was discussed during the meeting in addition to discussing problems and obstacles facing investment process.
Other important topics were also discussed during the meeting like utilizing the infrastructure for investment projects and establishing an investment bank with updating a unified investment map for Iraq and activating the One stop shop law.

Anbar Investment Commission Holds a Meeting to Discuss Constructing Industrial Cities

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Anbar Investment Commission Holds a Meeting to Discuss Constructing Industrial Cities

Anbar investment Commission held a meeting in the One Stop Shop Dept. headed by the commission’s Chairman, Mr. Farhan Awadh and attended by the commission’s vice chairman and representatives of the provincial government, the provincial experts’ office and managers of investment affairs departments.
Anbar Investment commission Chairman stressed the importance of attending all relative sides all meetings held in the commission in order to eliminate all obstacles that might hinder investments inflows into the governorate assuring that “Investment in Anbar will step confidently forward this year especially after issuing the statute of leasing and possessing lands in addition to the remarkable improvement in the security situation the matter that creates an attractive investment climate in the governorate.
Mr. Farhan added that his commission made exceptional efforts to delegate the heads of the concerned departments outside Iraq in order to get them acquainted with the investment experiences of the neighboring countries which will unify visions among the departments concerned with attracting investment and the investment commission to establish an investment environment that contributes to attracting investors into the governorate.
The AIC Chairman presented a presentation briefing investment licenses granted so far assuring that the commission is serious in following up the licensed projects implementation stages and that it already had withdrawn seven licenses for the reluctance shown in running the implementation.
Several other projects were discussed during the meeting like Faluja Farm project which is considered one of the most important tourists sites in the governorate stressing the necessity of making serious efforts to prepare this site for investment. AIC chairman also stressed the importance of unifying efforts to establish the industrial cities in the governorate for the active role it can play to enhance economy and absorb unemployment.

NIC Holds the Iraqi- Turkish Forum in Baghdad

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Under the Patronage of H. E Prime Minister Nuri Al- Maliki
And on the Purpose of Attracting Turkish Investors to Iraq and Creating Investment Partnerships between the two Countries
NIC Holds the Iraqi- Turkish Forum in Baghdad

Under the patronage of H. E Prime Minister Mr. Nuri Al- Maliky, NIC held the Iraqi – Turkish Investment Forum in Baghdad that aimed at attracting Turkish Investors and capitals to enter the Iraqi market and participate in the strategic investment projects in the various sectors and create investment partnerships between the two countries that can serve mutual interests.
Nuri Al- Maliky – Iraqi Prime Minister said in the speech he gave during the conference which was attended by H. E Mr. Rajab Taieb Ardogan – Turkish Prime Minister and a number of Ministers from both sides and more than 200 Turkish businessmen and companies representatives in addition to the elite of the Iraqi businessmen, Al- Maliki said “The Iraqi government is challenging time to accelerate the process of reconstruction, investment and providing the needed services to Iraqi people through being opened to the neighboring countries companies, adding; We all in the council of Ministers, the parliament and the National Investment Commission are supporting the process of reconstruction and investment and ready to submit all the needed facilities to companies willing to work in Iraq.”
H. E the Turkish Prime Minister in his turn expressed his happiness and appreciation for the warm welcome that greeted he and his entourage, stressing his country’s readiness to participate in the works of building and reconstructing Iraq in addition to participating in implementing the big and strategic investment projects assuring the strength of the relations between the two neighboring countries by saying that Iraq and Turkey are as brotherly as Tigris and Euphrates.
On the same context, NIC chairman Dr. Sami al- Araji stressed Iraq willingness to start wide economic relations in all sectors with Turkey calling for the Turkish companies to launch the promising Iraqi market and create investment partnerships with the Iraqi public and private sectors in a way that suits both countries intentions to build solid economic ties.
The Forum was anticipated by a seminar between the Iraqi businessmen and Turkish businessmen and investors during which Dr. Al- Araji explained investment opportunities in more than 10 economic sectors as ( Housing, Infrastructure, Oil & Gas, Industry, Agriculture, Water Resources, Electricity, Transport, Health, Education, Telecommunications and Tourism).
A number of questions and interventions by Turkish and Iraqi businessmen were witnessed during the seminar through which visions and thoughts were exchanged to remove all obstacles that hinders the foreign investors’ work in Iraq.

Investment Opportunity

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Investment Opportunity

In conjunction with the Ministry of Health and Baghdad Investment commission, NIC announces the project of Arab Child Hospital in Baghdad (located at the entrance of the IZ) as an investment opportunity for Local and foreign investors and companies according to the amended investment law No. 13 provisions.

General information:

1- The hospital is located in Karadat Miriam – IZ entrance on the lot number 505/76 of a total area of (211590) Ulke.
2- The lot was allocated for the Ministry of health according to the contract No. (1117109) and the Council of Ministers letter No. 2391 in 28.09.2008.
3- The building consists of (6) stairs (damaged)
4- The main purpose behind announcing this investment opportunity is investing the building mentioned by a local or foreign investor or company according to the technical conditions and requirements of constructing the specialty medical centers.
Preferred specializations:
A specialty hospital for the treatment of infertility and IVF – 30 Bed in minimum
A hospital for heart surgery – 30 beds in minimum

5- Applying for this project shall require previewing the site by the interested investor.
Investment license applications can be found on the One Stop Shop page of our site.
Applications should be submitted directly to the NIC or by email to info@investpromo.gov.iq .