NIC Vice Chairman Speech on the Conference of the Central Plan of the Ministry of Electricity in Istanbul

NIC Vice Chairman Speech on the Conference of the Central Plan of the Ministry of Electricity in Istanbul

NIC Vice Chairman Speech on the Conference of the Central Plan of the Ministry of Electricity in Istanbul

The importance of the electricity sector is a well-known fact to all of us. This sector is in dire need of major reform in order to create a new reality in Iraq. Electricity is not only important for the welfare or our people, but it is one of the main pillars for attracting mega investment projects and economic transformation.

There are many challenges facing this sector today. They include deteriorating power generation units and distribution networks both in quality and quantity, shortage of water and its impact on operating the hydroelectric stations, the challenges in meeting the environmental requirements particularly for the old projects, the shortage of skilled labor, and the difficulty in meeting the financial obligations that are hindering the execution of the government investment plans.

In cooperation with the different ministries and the ministry of electricity in particular, the National Investment Commission worked on including the sectoral investment opportunities which were updated twice during the last year. This investment map is used to promote the investment opportunities through conferences and meetings held by the Commission in Iraq and aboard. We are focusing on the great incentives offered by the investment law 13 of 2006 and its amendments No. 2 of 2010