Chairwoman of the National Investment Commission.. New mechanisms for granting lands for investment equal to its real value

Chairwoman of the National Investment Commission.. New mechanisms for granting lands for investment equal to its real value

Chairwoman of the National Investment Commission.. New mechanisms for granting lands for investment equal to its real value

Chairwoman of the National Investment Commission, Suha Daoud Najjar, said that the commission is continuing its efforts and procedures related to reviewing the allocation of land to investors with all its priorities in order to identify cases of manipulation and correct the course.

She added that the presence of (850) investment projects in Iraq that is stalled or lagging reflects a huge financial waste that requires concerted efforts by all concerned institutions and the necessary firmness and will to stop this waste, adding that the mechanisms for granting land at almost free prices are also subject to review and audit as we work to determine prices Lands in proportion to their locations and their actual economic value, in which the profit margin from investments reaches 400% sometimes, as some investors (brokers and traders) resell the lands they obtained at huge prices, taking advantage of the privileges granted to them from customs exemptions and entry visas and others Thus, achieving very large profits at the expense of serving the economy and infrastructure of Iraqi society

The suspension of granting licenses in Baghdad and the governorates and subjecting them to scrutiny was one of the first measures taken by the Commission to preserve the assets and lands of the state, especially with the presence of (2300) projects in Baghdad and the governorates, of which only 300 projects have been completed, which means that there are about (1800) suspended or fictitious projects that we are working on finishing measures taken in this regard that will reflect positively on the reality of investment in Iraq.