Good news to Bismayah city and other housing complexes inhibiters

After a stoppage for years …

NIC Chairman, Dr. haider Makkiyah, was able, after one meeting with the Minister of Justice and DG of Real Estate registration, to settle the matter of defining the housing units in Bismayah city project and issuing possession bonds for buyers.

It was agreed upon the form of the possession bonds to save the rights of buyers, the measure that shall be generalized on all other housing complexes in Iraq.

In coordination with the Iraqi Minister of Justice , Dr. Khalid Shwani

NIC Chairman, Dr. Haider Makkiyah, confirms

• Settling the matter of defining the housing units in Bismayah project with issuing possession bonds for buyers
• Adopting a mechanism to define the housing units of vertical order which shall be implemented outside Baghdad borders
• Preparing an adequate place in Bismayah city as an observation building for real estate registration

An elaborated meeting was held today Thursday, 2^nd of Feb.2023 in the Ministry of justice premises with the attendance of Dr. Khalid Shwani, Minister of Justice and Dr. Haider Makkiyah, Chairman of the National Investment Commission and a number of the concerned officials from both sides, during the meeting an agreement had been reached to define the housing units of Bismayah city project and issue the possession bonds for buyers in an exception from the real estate registration law.

The two sides also agreed to adopt a new mechanism to define the housing units of vertical order which shall be implemented outside the borders of Baghdad as a big support for the process of marketing these projects.

There was a confirmation during the meeting to support the department of real estate registration of Bismayah city project after providing the needed building and other needs, enabling it to act its role in the proper way that can match the expected rise in the numbers of registrars

This new NIC moves come to solve the problems facing housing projects in Iraq in general, within the framework of the serious plans to support this vital sector harmoniously with the governmental programs

Worth mentioning that the meeting was also attended by a number of DGs and concerned members from the Ministry of Justice and NIC.

During his meeting with the Minister of Transport, Mr. Razaq Mhebes al- Saadawi

NIC Chairman, Dr. Haider Makkiyah, submits a review for three strategic projects

NIC Chairman met on Wednesday 1^st of Feb.2023 with H.E Minister of Transport, Mr. Razaq Mhebes al- Saadawi and discussed with him plans and mechanisms of implementing three strategic and vital projects that NIC intends to announce for investment in direct coordination with the governmental concerned sides. The projects are ( Oh Hussein Metro, expansion of Baghdad International Airport, in addition to the construction of new airport in the capital).

Minister of transport expressed his consent to list the projects of (Oh Hussein and the new airport) in the paper of the opinion Committee of the Ministry of Transport.

NIC Chairman, Dr. Haider Makkiyah, previews the investment offers submitted by Hazar Turkish group

NIC Chairman met on Wednesday 1^st of Feb. 2023 with Shekh Hazar Al- Zibari- chairman of Hazar group and partner of YDA Holding Turkish group

He discussed with him a number of the projects that the group seeks to implement in Iraq among which housing projects in Baghdad and Mosul and high way project that connects Basra – Mosul beside others in infrastructures, airports, hospitals, industrial and services buildings.

NIC Chairman previewed the preliminary offers submitted by the company and promised to study them and take adequate decisions in the way that match with NIC plans to attract solid capitals and companies. Worth to mention that YDA group is one of the pioneers in ten of the key sectors like (constructions and entrepreneurships, real estate development, general medical sectors, energy,

mining, agriculture and IT) and has an experience of more than half a century that puts it within NIC field of interest.

 

 

Within the framework of the State’s procedures to control the exchange rate

NIC Chairman direct investment companies to adopt Iraqi Dinar

Directives from NIC were given today Wednesday 1^st of Feb.2023 to all investment companies, licensed by it to construct housing compounds, to abide by the government exchange rate approved by Iraqi central bank which is 1470 Dinars for each 1 Dollar. NIC official spokesman added that these directives came according to the Ministers’ Council decision no. 23026 for the year 2023 which stipulated taking the necessary actions by investment companies investing in housing sector not to demand beneficiaries to pay in higher than CBI approved exchange rate otherwise companies shall be legally prosecuted.

 

NIC Chairman, Dr. Haider Makkiyah, meets the Egyptian businessman – Naguib Sawiris- Chairman of the Board of Directors of Orascom Invetsment holding company

And discussed a number of opportunities and sectors the company is willing to invest in, like taking part in the construction of new housing projects (big cities) for low and high income classes outside Baghdad with all needed services to reduce congestion in the Capital. In addition to the interest in sectors like tourism, food processing and others previously experienced by the company.

During being hosted in the meetings of the dilatory investment projects committee of the General Secretariat of the Ministers Council

NIC Chairman discusses solutions available to motivate dilatory investment projects

NIC Chairman, Dr. Haider makkiyah, was hosted on Thursday 26^th of Jan.2023 in the committee of the dilatory investment projects in the General Secretariat of the Ministers’ Council premises with the attendance of the relative sectoral sides’ representatives and other concerned sides.

A number of crippled investment licensed projects were studied to define obstructions that hinder their implementation. During the meeting, chances and possibilities of implementing governmental visions were also discussed with the ways of adopting the policies that can contribute to attracting investments to raise economic growth rates and optimize the country’s economic situation.

During his meeting with the National Security Chancellor, Mr. Qasim Al- Araji

NIC Chairman affirms.. Our plans to develop Investment are harmonious with the Governmental program and depend on the essential needs of the Iraqi economy

NIC Chairman, Dr. Haider Mohammed Makkiyah, said during his meeting with the National Security Chancellor that being in charge of investment in Iraq, in the mid of what Iraqi economy is witnessing of critical need for strategic vital projects that can run economy wheel and move it positively and actively, put us before a national and personal responsibility that abide us and all workers in this field to work relentlessly and according to realistic planning to fix shortages in the economical body.

He added during this meeting which was held on Saturday, 28^th of Jan.2023, that new projects in important sectors shall be announced after completing all their requirements, and this comes according to NIC plans for the coming phase that depends on the governmental vision

Chancellor, Qasim Al- Araji, in his turn stressed the importance of providing adequate environment for investment in shade of  the stable political and security situation to attract strategic investments and achieve the required economic growth assuring the support of the National Security Chancellorship for all NIC’s steps.

In his first meeting with Hanwah South Korean Group, NIC Chairman stresses the readiness to recover work in Bismayah new city project in an initiation to grant the executing company a new Investment license

• NIC completes the minutes of meeting of the negotiating committee and is ready to be examined by the Ministrial Committee no. (94) for the year 2022
• Finishing the draft of the annexed new contract of the project

NIC Chairman, Dr. Haidar Makkiya, announced on Thursday 26^th of Jan. 2023 the road map of recovering work in Bismayah new city project according to three essential plots that concentrated on documenting the minutes of meeting of the Ministrial committee by the new negotiating committee that was formed in NIC to obtain the needed approvals for renewing the investment license of the project by the committee in charge of studying and modifying investment licenses formed according to the decision no. 94 for the year 2022 and presided by NIC Chairman.

He added during the elaborated meeting with the South Korean side that NIC had also prepared the annexed contract of the project which is hoped to be signed with the company within the forthcoming two or three months.

Regarding the financial settlements, NIC Chairman declared that extensive supporting meetings shall be held next week with the heads of banks of (Rafidain, Rasheed and TBI) in addition to the head of the Private Banks association to reach an agreeable financial agreement that can contribute to moving the project forward.

Head of Hanwah Group, in his turn, assured the South Korean side desire to return hastily to complete the project pledging to study the draft of the new contract financial, legal, and administrational wise ASAP.

He also referred to the preparations made by the company currently to achieve the maintenance works for some of the housing blocs in the project that are ready to be delivered to the beneficiaries and ended by stating that what bring us together is not a mere project but a joint goal and willingness supported by the two governments and a beginning for additional future works for Hanwah group in Iraq.

 

Dr. Haider Makiya, Chairman of the National investment Commission

Dr. Haider Muhammad Makiya: We developed plans and strategies according to the governmental curriculum of the Prime Minister, Mr. Muhammad Shia’a al-Sudani, to promote investment in the country

🟣 Dr. Haider Muhammad Makiya: We will work on  improving the investment environment, fight corruption and find solutions to obstacles facing investors within a short period of time.

Dr. Haider Muhammad Makiya started his duties today, Sunday, as Chairman of the National Investment Commission.

He immediately held a meeting with the Director Generals and the advanced cadre of the commission as soon as he arrived, during which he confirmed the development of plans and strategies according to the governmental curriculum of the Prime Minister, Mr. Muhammad Shayaa al-Sudani, to promote investment in the country, and move forward with an investment process in line with developed countries because Iraq has every reason for success in this important sector.

NIC Chairman stressed that staff members needs to save no effort to improve the investment environment, fight corruption and find solutions to obstacles facing investors within a short period of time.

============
Department of Relations and Media – National Investment Commission

22^nd January – 2023