The National Investment Commission (NIC) clarifies mechanisms of financial compromises followed in housing projects in Baghdad and provinces.

In the framework of supporting the state efforts to reach a stable currency exchange rate

NIC clarifies mechanisms of financial compromises followed in housing projects in Baghdad and provinces.

No secret for everyone the instability Iraqi market and economy are witnessing in all sectors because of the fluctuation in USD exchange rate and reflected confusion in implementing decisions made by the state Ministries and institutions to support the government and CBI measures to protect local currency.

And for investment companies contracting with NIC an PICs , NIC would prefer to clarify its procedures in this regard.

• Abiding by the directives of the General Secretariat of the Ministers’ Council to all investment companies specialized in constructing housing complexes, a number of investment companies have already started banking windows for their projects financial transactions in a number of banks in coordination with CBI in a mechanism that consists of requiring Iraqi customers to pay their financial dues in Iraqi Dinars that will be automatically exchanged into US dollars by the recipient bank and deposited to investment companies accounts in a way that not adding new burdens on customers. NIC could define the violating projects and in its turn had forwarded official abiding letters to the licensing PICs to urge these projects managements to abide by restrictions otherwise they will be subject for legal prosecution.
• Branches of state banks (financers of NIC licensed housing projects including Bismayah project) are fully committed to receive monthly dues from customers who contracted prior to the last devaluation of Iraqi dinar according to 1200 exchange rate, and those who contracted after devaluation shall pay according to CBI bulletin.

 

• Housing projects financed by private banks and private sector companies must be committed to adopt legal exchange rate announced by CBI according to the informative letters of the General Secretariat of Ministers’ Council and NIC.

 

NIC Chairman meets with Ms. Abeer AL- Naeb – DG of Iraqi Business Council in Jordan

NIC Chairman meets with Ms. Abeer AL- Naeb – DG of Iraqi Business Council in Jordan and her accompanying delegation, during the meeting they discussed opportunities and possibilities of reinforcing Jordanian investments  entering Iraq benefiting from incentives granted by investment law no. 13 for the year 2006 as amended.

Dr. Makiyah also listened to a detailed explanation of the most prominent problems that work against streamlined incoming investments, for the purpose of finding best solutions and supporting the Council efforts to attract investments and capitals into Iraq.

 

NIC Chairman, Dr. Haider Makiyah checks out progress in the works of Kerbala International Airport project

NIC Chairman, Dr. Haider Makiyah checks out progress in the works of Kerbala International Airport project as he was received by eng. Manhal al- Haboobi – project consultative engineer and during the visit he listened to a detailed presentation on project achievement stages when he expressed NIC full readiness to support a speedy implementation of the project for its high importance in streamlining local and international pilgrims movement the matter that will positively reflects on the province economy.

NIC Chairman Dr. Haider Makiyah listens to a detailed review on Warith Oncology International Center

NIC Chairman Dr. Haider Makiyah listened to a detailed presentation on Warith Oncology International center by its head Dr. Haider al- Abidi and went in a tour to view the modern equipments used in the center when he conveyed his pride for having such a great medical edifice.

Chairman of the National Investment Commission, Dr. Haider Makiya meets with the Secretary General of the Holy Husayni Shrine, Hajj Hassan Rashid al-Abaiji, and reviews a number of projects implemented by the shrine

Chairman … NIC is supportive to projects implemented by the Holy Husayni Shrine, we work on easing challenges and difficulties facing those projects.

Chairman … Shrine’s project are now success stories visible to Iraqis and foreign visitors.

Chairman visits a number of projects on site, etc, Al Sabtain University and Warith Oncology International Institution considered being the most important one in the Middle East.

Secretary General of the Holy Husayni Shrine.. Our projects are non-profit projects that serves Iraqis and visitors in all provinces, and not limited to Karbala.

Secretary General.. Karbala International Airport, built according to  international standards, shall soon be operated. It will contribute to smoothing the  visitors’ movement.

 

Dr. Haider Makiya, Chairman of the National Investment Commission in Holy Karbala to meet with Mr. Nsaif Jasim AL Khitabi, the Governor and a number of officials. All reviewing and following up the investment process in the Province

From Holy Karbala

Chairman of the National Investment Commission .. we are keen to continue fruitful cooperation between NIC and the local government in Karbala that reflects positively on the economic development in this important religious province.

Chairman of the National Investment Commission.. we are working according to a sustainable investment strategy based on an integrated administration, design and planning for the current and future generation.

Chairman of the National Investment Commission.. investing Al Razaza Lake shall be reactivated to establish a full served urban town for local and foreign tourists.

|Governor of Karbala …due to Karbala’s commercial and religious investment attracting location, tens of requests reached us from abroad desiring to invest in the province.

Governor of Karbala …investment projects created thousands of job opportunities to young people in Karbala which participated in improving the living standards in the province.

Governor of Karbala.. we have 22 residential blocks in different prices. In the agriculture sector, we were able to produce 2 b eggs/ annually .

In preparation to conclude investment contract with Uraifi Suadi Group

NIC Chairman Dr. Haider Muhammed Makkiyah assures..

• Completing the needed requirements to grant investment license for Jadet Baghdad project in its residential and commercial sides
• With the attendance of the concerned sides, Discussing obstacles facing the project and finding the suitable solutions

An expanded meeting has been held today Monday, 6^th of Feb. 2023 at the premises of NIC presided by Dr. Haider Makkiyah, NIC Chairman and Mr. Ammar Mousa Kadhum, Mayor of Baghdad with the representatives of Uraifi Suadi Group.

During the meeting they discussed the most important steps needed to be taken by the concerned sides to go forward with the construction and development of Jadet Baghdad project in its residential and commercial sides, the project that had already been granted a license by NIC in the year 2021.

NIC Media office added in a statement that the company had received the 600 donum land specified for the mentioned project in two separated parts in order to launch the process of leveling and contouring the site after completing the possession contract for the residential part of the project with Baghdad Mayorship (the possessor of the land)

The company was also provided with draft of the investment contract in order to study it and convey their notes before signing it in the coming period.

A detailed presentation of the most prominent obstacles facing the project implementation was presented during the meeting to discuss taking the necessary actions to solve these obstacles and facilitate procedures.

NIC Chairman, Dr. Haider Muhammed Makkiyah, meets with Chairman of Martyrs Institution, Mr. Abdul Ilah al- Naely, and the accompanying deputation today, Monday 6^th of Feb. 2023 and discusses possibilities of mutual cooperation.

NIC Chairman, Dr. Haider Muhammed Makkiyah, meets with the head of the supreme Judicial Council, the Judge Dr. Faeq Zedan, today Monday 6^th of Feb.2023 and discusses a number of issues pertaining to specific investment files and possibilities of preparing attractive investment environment.

NIC Chairman, Dr. Haider Muhammed Makkiyah, meets with the Ambassador of Saudi Arabia Kingdom in Baghdad, Mr. Abdul Aziz Al- Shimarry and the accompanying delegation.

The two parties discussed the progress of mutual relations and possibilities of economic cooperation in various investment fields in the way that serves the good of the two countries.