Under the patronage of the Chairman of the National Investment Commission: Granting eight investment licenses at a cost of more than 250 billion dinars in Babylon Governorate

Under the patronage and presence of the Chairman of the National Investment Commission (NIC), Prof. Dr. Haider Mohammed Makkiya, the Babylon Investment Commission organized a ceremony to hand over investment licenses to eight investment projects at a cost of more than 250 billion dinars, distributed in the industrial, commercial, entertainment and services sectors. In his speech during the ceremony, the head of the National Investment Commission emphasized that Babylon province is witnessing a major economic opening through an increase in investment projects, noting that these projects represent a qualitative leap aimed at enhancing economic development in the province. He explained that the government attaches great importance to the investment file through its government program and amendments to the investment law, which contributed to enabling these projects and driving development. Dr. Makkiya added that the projects launched will provide about 4,000 diverse job opportunities, with a focus on housing, industry, and tourism. He praised the efforts of the Babylon Investment Commission in developing these projects and supporting them with all possible elements of success, calling for investing in the safe atmosphere and stable investment environment to enhance the province’s economic reality in line with its civilized history. During his visit to the headquarters of the Babylon Investment Commission, the Chairman of the Commission listened to a number of inquiries and suggestions related to the referral and advertising controls for projects, in addition to the technical and environmental conditions of the feasibility studies submitted by investors. He stressed the importance of adhering to the instructions issued by the higher authorities to ensure the continuity of investment activity away from any legal violations. The field tour included inspecting a number of prominent projects in the governorate, including:

• The United Factory for the production of packaging materials, which covers more than 70% of Iraq’s needs while exporting the surplus to neighboring countries.
• Al-Kawthar Residential Complex, which includes 1,061 housing units, with 375 units completed as the first phase.
• The Safwa residential complex, which was built on an area of 400 dunums and contains 343 housing units.

The ceremony was attended by Babylon Governor Mr. Adnan Faihan Al-Dulaimi, First Deputy Chairman of the Parliamentary Investment and Development Committee Mr. Hussein Al-Saabri, Chairman of the Babylon Investment Commission Engineer Abdul Jalil Al-Shajiri, in addition to the Chairman of Babylon Provincial Council Mr. Asaad Al-Salmawi and a number of officials and members of the provincial council.