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.

Muthana Investment Commission Grants a License to Construct a Housing Project of 70 Billion ID Cost

Muthana Investment Commission granted an investment license to Barakat Al- Ziyadi local company to construct a housing project in the governorate.
MIC Chairman, Mr. Adel Al- Yasiry said that the project cost is 70 billion ID with an implementation term of 24 months adding that the commission had already granted 4 other investment licenses in housing, commercial and industrial sectors referring that the implementation term of these projects goes between (18-36 Months)
He continued that another license had been granted to construct a plant for sand production and lithotripsy.
Al- Yasiry stated that the total number of the investment licenses granted by Muthana Investment commission reached 49 licenses in various investment sectors assuring that lots of these are under construction.

In Order to discuss investment problems
Babil Investment Commission hosts a meeting for Provincial Investment Commissions

A number of investment commissions’ chairmen discussed some of investment topics during a meeting held in Babil Investment Commission and run By Mr. Ala Harba, BIC chairman.
Statute No. 7 and the range of its impact on investment projects was discussed during the meeting in addition to discussing problems and obstacles facing investment process.
Other important topics were also discussed during the meeting like utilizing the infrastructure for investment projects and establishing an investment bank with updating a unified investment map for Iraq and activating the One stop shop law.

Anbar Investment Commission Holds a Meeting to Discuss Constructing Industrial Cities

Anbar investment Commission held a meeting in the One Stop Shop Dept. headed by the commission’s Chairman, Mr. Farhan Awadh and attended by the commission’s vice chairman and representatives of the provincial government, the provincial experts’ office and managers of investment affairs departments.
Anbar Investment commission Chairman stressed the importance of attending all relative sides all meetings held in the commission in order to eliminate all obstacles that might hinder investments inflows into the governorate assuring that “Investment in Anbar will step confidently forward this year especially after issuing the statute of leasing and possessing lands in addition to the remarkable improvement in the security situation the matter that creates an attractive investment climate in the governorate.
Mr. Farhan added that his commission made exceptional efforts to delegate the heads of the concerned departments outside Iraq in order to get them acquainted with the investment experiences of the neighboring countries which will unify visions among the departments concerned with attracting investment and the investment commission to establish an investment environment that contributes to attracting investors into the governorate.
The AIC Chairman presented a presentation briefing investment licenses granted so far assuring that the commission is serious in following up the licensed projects implementation stages and that it already had withdrawn seven licenses for the reluctance shown in running the implementation.
Several other projects were discussed during the meeting like Faluja Farm project which is considered one of the most important tourists sites in the governorate stressing the necessity of making serious efforts to prepare this site for investment. AIC chairman also stressed the importance of unifying efforts to establish the industrial cities in the governorate for the active role it can play to enhance economy and absorb unemployment.

Investment Opportunity

In conjunction with the Ministry of Health and Baghdad Investment commission, NIC announces the project of Arab Child Hospital in Baghdad (located at the entrance of the IZ) as an investment opportunity for Local and foreign investors and companies according to the amended investment law No. 13 provisions.

General information:

1- The hospital is located in Karadat Miriam – IZ entrance on the lot number 505/76 of a total area of (211590) Ulke.
2- The lot was allocated for the Ministry of health according to the contract No. (1117109) and the Council of Ministers letter No. 2391 in 28.09.2008.
3- The building consists of (6) stairs (damaged)
4- The main purpose behind announcing this investment opportunity is investing the building mentioned by a local or foreign investor or company according to the technical conditions and requirements of constructing the specialty medical centers.
Preferred specializations:
A specialty hospital for the treatment of infertility and IVF – 30 Bed in minimum
A hospital for heart surgery – 30 beds in minimum

5- Applying for this project shall require previewing the site by the interested investor.
Investment license applications can be found on the One Stop Shop page of our site.
Applications should be submitted directly to the NIC or by email to info@investpromo.gov.iq .

NIC Chairman meets with the South Korean Ambassador to Baghdad and discusses investment projects of mutual interest.

Nineveh Investment commission Chairman denied the news over his commission’s contracting with South korean Companies in sectors like Electricity and sewage exclaiming at publishing such kind of untruthful news.