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.