President of the National Investment Authority supports the initiative to build 100,000 housing units in Baghdad and the provinces
BAGHDAD – Monday, December 23, 2024
The National Investment Commission (NIC) held today its regular meeting of the heads of investment authorities in Baghdad and the governorates, chaired by Prof. Dr. Haider MohammedMakiya, in the presence of the Chairman of the Iraqi Economic Council, Mr. Ibrahim Al-Masoudi Al-Baghdadi, and a number of directors general and officials in the Commission. During the meeting, Dr. Makkiya affirmed his full support for the “Tashkeen ” initiative launched by the Iraqi Economic Council, which aims to build 100,000 housing units in Baghdad and the governorates in a vertical and horizontal manner, with a focus on providing economic housing suitable for middle-class and low-income groups, according to accurate architectural specifications and plans. He also directed the heads of agencies to identify suitable land for these projects in coordination with the higher committee formed for this purpose.
Investment Law Amendments
The meeting discussed the proposed amendments to the Investment Law No. 13 of 2006 as amended in cooperation with the competent government agencies, with the aim of enhancing the investment environment in Iraq and increasing the competitiveness of the economy in line with global changes. Dr. Makkiya called on the heads of investment authorities in the governorates to submit their proposals to ensure that these amendments are aligned with the needs of their governorates and enhance confidence in the investment climate.
Unified Investment Map
The head of the Authority pointed out that the Prime Minister approved the hiring of an international consulting firm to prepare preliminary feasibility studies, in preparation for the development of a comprehensive investment map for Iraq. The map aims to identify the economic identity of each governorate in proportion to its resources and population, contributing to enhancing job opportunities and achieving economic recovery.
Solar Energy in Residential Projects
The meeting also discussed the Prime Minister’s directives on introducing solar energy systems in investment housing complexes. It was agreed to include in investment contracts a clause that obliges investors to provide solar energy systems from international sources for each housing unit, in addition to obliging investors with active licenses to apply this measure in projects that are under implementation or completed.
Other initiatives
The meeting agenda included:
- A change initiative towards institutionalized leadership for investment authorities, following the example of the National Investment Authority (NIA).
- Discussing circular economy projects and minimizing the depletion of raw resources in investment projects.
Conclusion of the meeting
Dr. Makkiya stressed the importance of strengthening joint work between the National Investment Commission and the provincial authorities to achieve ambitious investment goals, praising the active role of the heads of the authorities in implementing the National Investment Commission’s vision to advance the reality of the Iraqi economy.
