Chairman of Basra investment, said on Friday, that the volume of investment projects in the province in 2010 exceeded the previous years, pointing to the need to redraw the investment map of the city in the next stage.
“Investment was a distinct movement in Basra during the current year as it has witnessed the implementation of strategic projects in various sectors” Haidar Ali Fadhil, said.
He added that “Basra Investment Commission granted 12 investment licenses this year, the same number of projects that were licensed last year, 2009, but they differ in terms of the amount invested,” noting that “the volume of investments during this year was too high where they exceeded the cost of housing projects, which was granted an investment license of $ 500 million, while the cost of the projects in the industrial sector reached $ 245 million, as well as small businesses, pointing out that 12 investment license was granted last year too, but with much lower amounts. ”
Fadhil pointed that “Basra Investment Commission has been able during the last period to turn the investment map into real projects on the ground after attracting companies and investors to work in the province,” but he called at the same time to “redraw the map of investment in Basra during the next phase,” considering that a necessity.
Fadhil said the commission is about to begin a new phase of economic development in Basra during the next stage.”
Basra city, the provincial center, is located 590 km to the south of the capital, Baghdad