During an Official Visit to South Korea
NIC Chairman signs an MOU to Build 500 Thousand Housing Unit All Over Iraq
Dr. Sami Al- Araji, NIC Chairman signed in Seoul an MOU with the world well known Korean company ” Track Group for investment & Development” to build 500 thousand housing unit all over Iraqi provinces.
Dr. Al- Araji, who had headed a delegation of specialized officials to South Korea, invited all Korean companies to enter the Iraqi market through direct investments or through investment partnerships with the Iraqi public and private sectors to participate in the current investment process in Iraq.
The Iraqi delegation was warmly welcomed by the Korean officials, where the NIC Chairman met with a number of high officials of the Korean government as (the Prime Minister, Chair of the Parliament and the president advisor for economic affairs) in addition to a number of ministers and deputy ministers, chairs of government enterprises and chairs of the most internationally well known construction companies. Dr. Sami referred to the GOI high appreciation for the Korean stands towards Iraq assuring that all meetings with the Korean side were fruitful, during which available investment opportunities in several sectors like (Electricity, Industry, Housing, and Transport, Communication, and Infrastructure projects) were discussed.
NIC Chairman said that one of the important achievements which was achieved during this visit was meeting with the Korean public and private sectors in addition to the visits paid to a number of housing projects of high construction technology implemented by huge companies like Hyundai, SK, Bosco in addition to LH company which is doing great efforts to provide the appropriate lodging for each Korean citizen.
Dr. Sami hoped that these meetings could be made use of to establish solid partnerships in all investment and economic fields so that Iraqi businessmen can benefit from the Korean expertise since the big projects in Iraq need high technological and organizational capabilities which can be provided by the Korean side.
The high Korean Officials in their turn conveyed their happiness to meet the Iraqi delegation showing that the two countries have good relationships on both political and economic sides