National Authority for Investment and Business Conference held Iraqi investment – German

National Authority for Investment and Business Conference held Iraqi investment – German

In order to increase the volume of German investments in Iraq, the National Authority for Investment and Business Conference held Iraqi investment – German state-sponsored Mr. Prime Minister Nuri al-Maliki held a National Commission for Investment Business and Investment Conference (Iraqi – German) in Baghdad Tuesday, 02.05.2013 in the presence of Deputy Prime Minister state Dr. Rose Nuri Shaways and Transport Minister German (Peter Ramsawr) and Transport Minister Iraqi professor Hadi al-Amiri and a member of the House of Representatives German Mrs. (Dagmar Worrell) and representatives of more than 50 German companies, as well as a large number of officials and businessmen in both countries in order to enhance relations economic relations between the two countries to serve the common interests. In a speech opening the conference, Dr. Sami Raouf al-Araji, head of the National Investment Commission that the Commission has paid since its inception special attention to the issue of attracting capital, national and foreign companies prestigious World to contribute to the reconstruction of Iraq, where she worked with the government agencies concerned and the House of Representatives to provide legal protection and safeguards and exceptions tax credits for investments through amendments to the Investment Law No. (13) for the year 2006 to give the best opportunities for investors. He pointed out that the amendments included the introduction of the concept of the developer who is the establishment and management of cities and residential investment areas safe and allowing investors to workers in these projects to enjoy the benefits of vacation investment from date of issue and not from the date of issuance of license the original developer, the establishment of a fund to support investment enjoys legal personality and is linked at the National Investment to enable them to Access to finance investment projects and participate in raising the ceiling of exemptions of customs to include the entire duration of the project and when he entered the stage of commercial operation, requiring ministries to allocate land prone to invest for the body to be included within the investment map and allocated to the investor, compensate the investor for the investment project in the event of nationalization or expropriation under the rule judicial, as well as the repeal or amendment of several laws that hinder or do not conform with the provisions of the Investment Law. He said al-Araji said the government realized that any success of the process of investment in Iraq requires the development of banking and financial sector, this has embarked on the task of restructuring and modernization of this sector, which consists of 41 banks, including (7) government and (34) are owned by the private sector to keep up with the work of banks the world and the ability to provide the requirements success of the investment process, as well as providing rules banking would increase efficiency and contribute to the support of investment and a free market economy, in addition to the start of the Iraqi market for securities in the exercise of its role in attracting investment through the introduction of التدوال-mail along the lines of what the case in international stock markets. With regard to the housing sector and real estate development between the head of the National Investment Commission that Iraq needs three million housing units during the next ten years, and as a result it has initiated the National Investment Commission in an ambitious program aims to build one million housing units through private investment which culminated in the efforts to sign an agreement with the company Hanwha, South Korea to build a city بسماية new southeast of Baghdad, and by 100 thousand housing units and a total cost estimated at about eight billion dollars, where he entered this project into effect a few months ago, indicating that the body is about to sign investment contracts for the construction of residential cities, typical in Karbala (City the banks of Karbala by 40,000 thousand residential units) and Baghdad (development project Rasheed Camp previously by 70,000 thousand residential units and a project to build the city of the future rate of 30,000 housing units and the construction of 20,000 thousand residential units in the area of ​​Dabbash in Baghdad), plus there are great opportunities to invest in various economic sectors, including (telecommunications, transport, industry, education, health, etc.). Indicating that Iraq and by the expectations of a number of international economic institutions to suggest that the Iraqi economy will be among the ten fastest-growing in 2013. For his part, Deputy Prime Minister Ruz Nuri Shaways in his speech that the government is ready to provide all forms of support to German companies and to overcome all the obstacles they faced in Iraq, noting that the focus of the concerns of the government is to bring foreign investment and stimulate business and diversify its funding sources by activating sector industrial and agricultural sectors which foreign investment can play an important role in this area to achieve the desired development. At the same praised Transport Minister German (Peter Ramsawr) in his speech warmly hospitality and reception that greeted the visiting delegation and conveyed the greetings of the German government to the government and people of Iraq, noting that the Almatmervi Baghdad is of great significance after the first conference in Germany several months before to promote bilateral relations, announcing at the same time the German government’s willingness to provide assistance to Iraq in all areas and access to the investment process and participate in through large projects a manner that promotes economic cooperation between the two countries. On the sidelines of the conference held three sessions of discussion first discussed investment opportunities in the transport sector of Iraq, which asked the representatives of the Ministry of Transport, the number of investment opportunities on the German side, either the session panel discussion second was dedicated to discuss investment opportunities in the housing sector and construction, water resources and urban development On the third and final session addressed the investment opportunities available in the manufacturing sector of Iraq. This conference was attended by representatives of a number of ministries are (financial, oil, electricity, Planning, Industry, Construction and Housing, water resources), as well as a number of members of the Iraqi parliament and governors and heads of boards of some provinces and heads of Investment provinces, as Congress saw the presence of effective by non-governmental organizations and civil society organizations, in addition to the Arab-German Chamber of Commerce and the Federation of Iraqi Chambers of Commerce, the Iraqi Federation of Industries, the Federation of Iraqi businessmen, the Iraqi National Business Council, an independent economic grouping, the Association of Iraqi banks, and the Federation of Iraqi contractors.