NIC Chairwoman: We are continuing in withdrawing investment licenses of dilatory projects

The decision of withdrawing investment licenses contributed in differentiating the serious investor from the dilatory one

 

NIC Chairwoman, Suha Dawood Najar, assured that NIC is continuing its procedures of withdrawing investment licenses of dilatory projects whose achievement rates varies between 0-35% in accordance with the directives of the Prime Minister during his visit to the NIC premises last April.

Najar clarified that NIC keeps studying these projects according to specialized committees to stand on each project details and reasons behind its delay, and this process goes in coordination between NIC and Provincial Investment Commissions.

NIC Chairwoman assured that this decision has widely contributed to differentiating serious investor from the dilatory one who misused the essential investment tools represented by tax exemptions, fees cuts, entry visas granting and other facilitations  in a way that participated in disrupting investment process in Iraq.

Worth mentioning that Nineveh Province comes at the top of the list by withdrawing 22 investment licenses in various economic fields while 8 licenses were withdrawn in Najaf province, whereas Basra province is studying withdrawing 16 licenses and other provinces are still studying the cases.

PR and Media Dept.

19.12.21