Page 28 - of Khadrun’, and that Mark said about the lineage of Jesus son of ‎Mary that he was 'The word of God which He placed in the human ‎body, so it became human’, and that Luke said, 'Jesus son of Mary ‎and his mother were humans of flesh and blood, so the Ho

Investor Guide to Iraq 2021

NIC Strategic Projects

The National Commission is charged with the formulation of a policy and strategy of national investment at the federal level ,
with the development of plans, regulations and directives for the implementation of policies in place, and with monitoring the
implementation of directives and regulations. The NIC was created to oversee projects at the federal and strategic levels. This
responsibility was further defined in investment statute No. 2 (2009), namely:
• Infrastructure projects with capital greater than $50 Million USD or equivalent in Iraqi Dinars (IQD).
• Common projects between more than one region or province.
• Projects related to the extraction of natural resources, other than limited by article 29 of the investment law.
• Projects established under an agreement to which the Republic of Iraq is a party.
• Engineering, mineral, petrochemical, pharmaceutical, and manufacturing projects for various types of vehicles where the capital
of each project is greater than $50M USD or its equivalent in Iraqi dinars.
• Projects relating to the development of archeological and historical sites.
• Transportation projects such as roads, seaports, airports and railways with capital greater than $30M USD or its equivalent in
IQD.
• Power projects with capacity greater than 30 MW each.
• Projects related to dams, reservoirs, and irrigation greater than 50M sq. m.
• Projects related to telecommunications.
• Any project with capital greater than $1 Billion USD or its equivalent in IQD.
• Any other projects deemed by the Cabinet to be of a strategic or federal nature.

All projects not on the strategic project list above fall under the authority of the PIC. For the purpose of the organization of their
work, powers and administrative structures, the bylaw system for investment commissions in provinces where they are not
organized in a region are regulated by statute No. 3 for the year 2009 which restricted the forming of investment commissions in
the provinces, the powers of their administrative councils and their organizational structures.
For the purpose of encouraging investment in general and for housing projects in particular, and in order to enable investors to
implement investment projects in Iraq, particularly the construction of housing units of various styles of housing, a statute has
been issued for selling and leasing of State real estate and land, which is statute No. 7 for the year 2010 as amended; the most
important of its contents being:
- The National Investment Commission, for the purposes of housing, has the right to let land, to be held by the investor free
of charge, providing that the price of the land shall not be calculated within the price of the residential unit sold.

www.investpromo.gov.iq 26