NIC Chairman meets with several South Korean companies discussing the requirments of implementing their obligations in the project of the One Million Housing Unit

NIC Chairman .. Emphasizes that the Fair is a Fundamental Base for Investment Promotion process in Iraq

NIC Chairman, Dr. Sami Al- Araji emphasized that the commission’s participation in the fairs and international events especially those held in Baghdad ahead of which Baghdad International Fair is considered as a fundamental base for investment promotion process in Iraq, that was during his visit to Baghdad International Fair in its 37th session which was held in Baghdad for the period 1-10.Nov.2010.
He added “We are so happy for the participation of foreign and local companies in this fair as this participation is considered as a very good proof of the interest and contribution these companies are making to the reconstruction process” asserting that NIC and through its participation in the fair with other provincial investment commissions had responded to all enquiries made by investors and Iraqi citizens especially those attached to investment law No. 13 for the year 2006 and its amendments with all the privileges and guaranties this law is presenting and procedures taken by the One Stop Shop to utilize all investors needs.
Dr. Al- Araji also referred to the efforts made by NIC to promote the investment process in Iraq during the year 2009 while in 2010 a decision had been made to change the promotion strategy by holding direct meetings with foreign and local investors and making achievements on the ground stressing that Iraq obtains great natural resources and capacities that enable it to attract most of the international developed companies and create solid partnerships in all sectors.

NIC Chairman, Dr. Sami Al- Araji met with the Italian Ambassador in Baghdad and discussed a number of Investment projects of mutual interest.

Eng. Hakim Al Khuzaie, Chairman of Al Dewaniya Province Investment Commission discussed with a local company the possibility of establishing cement and ceramic plants in the province.
Al Khuzaie informed NIC media office that the proposal submitted by Zain Al Qawafil Company for Trade and Contracts includes establishing a cement plant with Italian specifications in Al Shanafiya district on a land of 600 domens area.
The company submitted the project designs and the feasibility of establishing it. Both parties discussed the possibility of establishing a ceramic plant in the same district.
Al Khuzaie assured that Dewaniya PIC provided all Facilities and capabilities to this company to facilitate their work in the province.
According to Dewaniya PIC, many local and international companies has visited the province in the last years and discussed investment with officials there.

NIC Chairman, Dr. Sami Al- Araji discusses means of economic cooperation between Iraq and Netherlans with the Netherlands ambassador to Baghdad and the representative of the Dutch Minister of Economy .

NIC Chairman confirms the willingness to create Huge Economic Partnerships between Iraq & Germany

NIC Chairman, Dr. Sami Al- Araji confirmed the NIC willingness to create huge economic partnerships between Iraq and Germany in various sectors according to an investment strategy aiming at reinforcing the economic relations between the two countries, his confirmation came during a meeting with the representatives of the German Ministries of Economy and Foreign Affairs and a number of German and Iraqi Businessmen in Baghdad, the meeting was also attended by the German Ambassador to Iraq.
Dr. Sami also said that NIC is ready to grant all facilities and privileges mentioned in the investment law No. 13 for the year 2006 and its amendments for investors interested to invest in Iraq asserting that the Iraqi market is a promising one; he also stressed the Iraqi businessmen need to the expertise of the big German companies in sectors like (electricity, Housing and Transport) not to mention that the German manufactured goods enjoy a very good reputation among Iraqis.
Sessions of negotiations between Iraqi and German companies of mutual interests and specializations were held during which important ideas were discussed to create real partnerships between the two sides and how to overcome difficulties that may hinder concluding these arrangements to seize available investment opportunities in Iraq.
German ambassador in his turn showed his deep gratitude for the warm reception made to the German delegation by the government of Iraq in general and by NIC in particular; he also stressed his government willingness to reinforce the economic relations between the two countries and seize the available opportunities to enter the Iraqi market in a way that serves both countries interests.

During an Official Visit to South Korea
NIC Chairman signs an MOU to Build 500 Thousand Housing Unit All Over Iraq

Dr. Sami Al- Araji, NIC Chairman signed in Seoul an MOU with the world well known Korean company ” Track Group for investment & Development” to build 500 thousand housing unit all over Iraqi provinces.
Dr. Al- Araji, who had headed a delegation of specialized officials to South Korea, invited all Korean companies to enter the Iraqi market through direct investments or through investment partnerships with the Iraqi public and private sectors to participate in the current investment process in Iraq.
The Iraqi delegation was warmly welcomed by the Korean officials, where the NIC Chairman met with a number of high officials of the Korean government as (the Prime Minister, Chair of the Parliament and the president advisor for economic affairs) in addition to a number of ministers and deputy ministers, chairs of government enterprises and chairs of the most internationally well known construction companies. Dr. Sami referred to the GOI high appreciation for the Korean stands towards Iraq assuring that all meetings with the Korean side were fruitful, during which available investment opportunities in several sectors like (Electricity, Industry, Housing, and Transport, Communication, and Infrastructure projects) were discussed.
NIC Chairman said that one of the important achievements which was achieved during this visit was meeting with the Korean public and private sectors in addition to the visits paid to a number of housing projects of high construction technology implemented by huge companies like Hyundai, SK, Bosco in addition to LH company which is doing great efforts to provide the appropriate lodging for each Korean citizen.
Dr. Sami hoped that these meetings could be made use of to establish solid partnerships in all investment and economic fields so that Iraqi businessmen can benefit from the Korean expertise since the big projects in Iraq need high technological and organizational capabilities which can be provided by the Korean side.
The high Korean Officials in their turn conveyed their happiness to meet the Iraqi delegation showing that the two countries have good relationships on both political and economic sides

NIC Vice Chairman, Mr. Salar Muhammad Ameen announced that the commission had put a new investment strategy that deals with each economic sector separately, noting that NIC shall hold international conferences to encourage investment within the next few months and shall concentrate on the following sectors; Medical care, Agriculture, Electricity, Communication and infrastructure.
Mr. Ameen added that NIC had held several international conferences that dealt with all economic sectors collectively but those conferences did not come out with the results hoped for, and that was the reason behind putting this new strategy for holding the conferences referring that the commission is working currently to prepare a new investment map focusing on economic sectors and the number of investment opportunities within each sector for the purpose of attracting international companies.

NIC Vice chairman said that the commission currently has a complete investment map that includes 700 projects in all sectors expecting good results out of the new strategy that shall be touched by the Iraqi citizen starting from the next year.

NIC Holds a Meeting with the Ministerial Representatives

NIC held a meeting attended by the Ministerial representatives headed by Mr. Abdullah Al- Bander, the NIC advisor.
Mr. Al- Bander asserted the importance of reinforcing the role of the Ministerial representatives through following up the letters issued by NIC regarding the sectoral approvals within the legal period of time specified by the law which is (15 days).
The attendees also reviewed the article No. 20 (first & second) of the investment law No. 13 for the year 2006 and the NIC efforts in coordinating with the ministerial representatives to reach the best forms of cooperation and issue the investment licenses within the time specified by the law were also clarified.
Granting authorities required to obtain sectoral approvals also was discussed since this will minimize the time required to grant the investment license. Mr. Abdullah reasserted the importance of explaining the goal of having a representative of each ministry by the representative himself to his superior, at the same time the representative must inform the NIC about all obstacles or difficulties they have in their departments especially those connected to responding to the commission’s requests.

The NIC chairman confirms that the project of the One Million Housing Units will contribute to solving part of the housing Crisis

NIC Chairman, Dr. Sami Al- Araji announced that 125 companies of various nationalities had submitted offers to implement the project of the One Million Housing Unit all over Iraq within the framework of the National Housing Project providing that 35 companies shall be chosen to implement the whole project.
Dr. Sami, during a celebration organized by the Ministry of Construction and Housing on the occasion of the International Day for Housing, explained that the project of the One Million Housing Unit adopted by NIC within the framework of the National Housing Project shall be implemented on an area of 80 thousand Donum.
NIC Chairman added that the commission shall choose only 35 companies out of 125 with an implementation term of two years, referring that these companies are of local and international origins as of the international ones were American, French, Spanish, Korean in addition to 12 big Turkish companies like (Torkey) well known company.
Dr. Sami also said that the NIC is currently evaluating the applying companies on technical and economic basis before starting the implementation phase, referring that the commission had also informed the investing companies about the importance of cooperation with specialized companies to provide the infrastructure necessary for the projects as electricity, water, sewerage, communication and other important services.