NIC holds a workshop for its staff about corporate Governance and activating the role of the Private Sector

Through a video conference meeting with the Governance Institute for Directors

NIC holds a workshop for its staff about corporate Governance and activating the role of the Private Sector

NIC in coordination with the Governance Institute for Directors and the International Finance Corporation held a workshop through a video conference meeting on Monday 18.01.2021 under the title of (The role of NIC in developing corporate governance practices to activate the role of the private sector in Iraq) with the attendance of NIC advisor, Mr. Adnan Kashmoola and the participation of the heads of sections and a number of NIC employees.

Lecturers (Dr. Bushra Ameen: CEO of the Governance Institute for Directors in Iraq, Mr. Wadeea Al- Handhal: member of the Institute board of trustees/ Baghdad, Dr. Ameera al- Saeed: in charge of corporate governance projects in MENA/ Cairo, Dr. Usama al- Ansari: expert of research and development of Arab capitals market/ Cairo) presented a lecture included defining the role of the Governance Institute for Directors in spreading the governance culture to support and activate the private sector and minimize the challenges it encounters, in addition to the role of governance  in attracting local and foreign investment with presenting success stories of corporations that had applied governance as a work style which led to increase in profits.

The lecturers expressed thankfulness for the NIC Chairwoman, Suha Dawood Najar for adopting such workshops that can have positive effect on the Commission’s work to provide best services for investment companies and investors.

Investment Opportunity/ First Announcement- al- Djela Iraqi- Jordanian Joint- Stock company 

Investment Opportunity/ First Announcement

 

According to investment law no. 13 for the year 2006 as amended and its regulations,
NIC in cooperation with al- Djela Iraqi- Jordanian Joint- Stock company  are pleased to announce the investment opportunity of (investing the cows stations and the related fields with total area of 36 thousand donum (9000 Hectar) of reclaimed agricultural lands with the utilities and vehicles attached located in wasit province / wasit (Al- Djela) district in a way that achieve developing these stations within the framework of agricultural- industrial integration).

Local and foreign companies willing to invest in this opportunity are invited to apply through filling in the Investment application form available on the NIC website: www.investpromo.gov.iq and provide all the documents mentioned in the application within (30) days from the date of publishing this announcement , in case of the synchronicity of another curfew with the duration of this extension it will be further extended in the same curfew days number, and if it happens that the last date of receiving the offers is an official holiday it will be postponed to the following day.

For any further information please visit the NIC premises- Ones Stop Shop dept. located at Baghdad – (IZ next to Avicenna Hospital) or send email to: oss@investpromo.gov.iq or contact number 07706771719

Required documents

– application form (stamped and approved by the Administration dept. of the National Investment commission) with a buying receipt of the application form
– Executive briefing
– Economic feasibility study
– Financing plan guarantied by a credited financial institution
– Implementation Timetable
– Company establishment papers and its final records with a briefing of its work history (legal person)
– Copies of ID and passport of the investors (natural person)
– Copies of ID and passport of the company representative
– A list of the similar works previously implemented by the company or the investor (4 maximum)

 

NIC embarks on supervising the works of rehabilitating the plants of Iron & Steel and Steel Rolling in Basra

In direct order from Prime Minister

NIC embarks on supervising the works of rehabilitating the plants of Iron & Steel and Steel Rolling in Basra

NIC Chairwoman, Suha Dawood Najar, announced starting the first tour of following up and supervision of finishing the works of constructing and rehabilitating the complex of Iron & steel and Steel Rolling plants in Basra province after ensuring the required funding from the investment budget for regional development.

Najar said, during an elaborated field visit for the industrial complexes and other projects in the province on Saturday 16.01.2021, that the supervision works came after forming a joint committee that included in its membership the Ministry of Industry and Minerals, the State Company for Iron and Steel, and the National Investment Commission, according to the directives of the Prime Minister, which role will be technical supervision and field following up  for the referral works and providing all sorts of support required after ensuring the funding required for rehabilitation..

Najar added that this big industrial edifice that operates more than 4500 worker of various specializations can contribute to moving the province economic wheel and absorb a high amount of manpower in case of its rehabilitation to work in its design capacity agreed upon in the contract, assuring that the referral works shall be finalized within minimum time that not exceeds one week to one of the advancing companies..  all this came during a meeting was held in the beginning of the tour with the attendance of the technical deputy minister of Industry and Minerals, Mr. Adel Kareem and DG of the State Company for Iron and Steel, Mr. Abbas Hiyal.

Project manager, Eng. Jawad Kadhum Jaafar, said that the achievement rates for the steel rolling plant reached 84% with 75% of equipment installing works completed while the achievement rate in the Iron and Steel plant reached 76% with the readiness to start the works of installing equipments after finishing the civil works, referring to reaching an agreement with the South State Company for electrical distribution to provide the needed power for the project in addition to agreeing with the South Gas Company to provide natural gas given that water supply is ensured from Shat al- Arab river. He added that the rehabilitation works will be totally implemented by Iraqi hands after finishing the operating works by the manufacturing company expecting that this year shall witness actual production from the steel rolling plant after the referral works are finished.

On the same context, Eng. Haider Taher Jasim, DG of Ibn Majid State Company, one of Ministry of Industry and Minerals affiliations, said that his company is seeking participation in the works of installing the plant of Iron and Steel to be re operated with in the coming 6 to 8 months, as the site and equipment have been studied and a full offer has been presented to the State Company for Steel and Iron and the Ministry of Industry and Minerals and he expressed his hopes for their offer to seize approval if it can serve the province, the country and the national industry…

Basra tour also included meeting with Mr. Asaad al- Edani, governor of the province, who welcomed the projects of developing and rehabilitating the big industrial complexes in the province for what they represent of promising job opportunities for the province population, and the two sides agreed to conclude an understanding to fund the project.

The tour included visiting a number of investment projects in Basra among which was Al- Rumaila Gas and Steam Power Station which hopefully expected to enter service next summer, the matter that shall reinforce the supply capacities for the province.

Regarding the investment licenses granted by NIC for al- Narjis Co. which was the fifth station in the tour, DG of OSS dept. in NIC assured that the Commission granted three investment licenses for al- Narjis Co. , the first to build a complete industrial zone with actual achievement rate of 30% and to be fully implemented within the next 6 months on total area of 40 donum and shall provide around 500 job opportunities and the other two licenses for constructing two housing projects which will be provided by construction materials manufactured in the aforementioned industrial zone.

 

NIC Chair woman: NIC is working hard to create an Investment Friendly Environment

During Receiving a Parliamentary Deputation

NIC Chair woman: NIC is working hard to create an Investment Friendly Environment

NIC Chair woman, Suha Dawood Najar, assured that NIC is working according to a well scrutinized strategy aiming at creating an investment friendly environment complying with the economic development plan followed by the Iraqi Government, stressing that NIC is highly supporting private sector through providing all facilitations granted by investment law for each investor willing to invest in Iraq after obtaining the investment license for his/ her project.

This came during her receiving a deputation from the Iraqi Parliament headed by the head of integrity Parliamentary committee, Thabit al- Abbassi who had a tour in NIC led by the Chair woman during which they had a look at the work mechanisms including the One Stop Shop dept. in charge of obtaining the required ministerial approvals to establish any investment project without any delay by red tape loops.

The visiting deputation also viewed and praised the NIC work plans and its investment policy for the coming period to attract successful investments.

NIC Chair woman, Suha Dawood Najar, assured that NIC is working according to a well scrutinized strategy aiming at creating an investment friendly environment complying with the economic development plan followed by the Iraqi Government, stressing that NIC is highly supporting private sector through providing all facilitations granted by investment law for each investor willing to invest in Iraq after obtaining the investment license for his/ her project.

This came during her receiving a deputation from the Iraqi Parliament headed by the head of integrity Parliamentary committee, Thabit al- Abbassi who had a tour in NIC led by the Chair woman during which they had a look at the work mechanisms including the One Stop Shop dept. in charge of obtaining the required ministerial approvals to establish any investment project without any delay by red tape loops.

The visiting deputation also viewed and praised the NIC work plans and its investment policy for the coming period to attract successful investments.

NIC Chair woman meets a number of projects managers in Diwaniah Province

Within the framework of following provincial investment projects up

NIC Chair woman meets a number of projects managers in Diwaniah Province

NIC Chair woman, Suha Dawood Najar, stressed the importance of finding realistic and practical solutions that can directly contribute to solve the problems that hinder the work of several projects in the different provinces through high level of direct coordination with the concerned sides.

During an elaborated meeting with the managers of a number of projects in Diwaniah province with the attendance of the MP Huda Sajad, the member in the parliamentary committee of services and construction, she added that the direct field presence to view the reality of these projects by the NIC specialized committees in charge of following up projects implementation according to the time ceiling specified can participate in diagnosing the shortages that stand against achieving these projects with taking in to consideration privacy and nature of each project and presenting possible solutions.

Najar also listened to suggestions, legal and adminstrial solutions presented by head of Diwaniah Provincial Investment Commission and DG of the Legal dept. in NIC after a detailed presentation of the problems facing projects owners.

 

on the 11th of Jan. 2021 a meeting for the committee formed to gear up with the reality of the State Company for Iron and Steel was held to discuss and follow up the orders of the Prime Minister regarding the completion of the project of rehabilitating the plants of the State Company for Iron and Steel and the activation of the future vision for the company.

NIC Chair Woman, Suha Dawod Najar, meets with Minister of Interior, Uthman Al- Ghanmi, on Thursday 24.12.2020 to discuss a number of issues headed by ensuring investors entry visas

 

NIC Chair woman, Suha Dawood Najar, meets with Minister of Interior, Uthman Al- Ghanmi, on Thursday 24.12.2020 to discuss a number of issues headed by ensuring entry visas for investors willing to work in Iraq and foreign workers in an organized way.

The two ministers also discussed the issue of approving the foreign workers certificates by the Iraqi Embassies abroad  and they reached an agreement to form a joint committee to conclude a joint vision according to the governmental supportive policy toward investment.