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Basra Investment Commission Kuwaiti investors: 120% annual profits waiting for you
Sunday, January 26th, 2014 - The News
Mazen peaceful and happier Samer and just happy and Aladdin Canaanite during their talk with the editor colleague Yousef and Khalid Al-Marzouq, deputy chief editor colleague Adnan Rashid
Editor colleague Joseph and Khalid Al-Marzouq, deputy chief editor colleague Adnan Rashid with the members of the delegation city of Basra Investment Commission (Hani Al-Shammari)
Fellows Zaki Othman, secretary of economic liberalization and Mahmoud Farouk members of the delegation during the visit of the city of Basra Investment Commission's «news»
Basra has become a «protected» the presence of international companies and there is nothing to worry about security
Gulf investor to give him priority in the implementation of projects .. The hours for project approval
Economic legislation and laws flexible and help to attract foreign investment
8 billion dollar budget Basra .. We have a five-year plan will make the city of Basra achievements
Mahmoud Farouk
sent a delegation Investment Authority, the city of Basra State of Iraq, a message to Kuwaiti investors in particular, and the Gulf in general, in which they expressed their welcome investors at any time without any restrictions or bureaucracy to deal, stressing that the speed of achievement in the approval of projects they have no more than a few hours , in reference to their determination towards the development of Basra during the next 5 years. confirmed the Iraqi delegation, which was hosted by «News» and chaired by a member of the Board of Directors of BIC, a member of the Chamber of Commerce Mazen and peaceful presence of the Director of Water Resources in Basra Aladdin Canaanite and member of the Board of Directors of the Basra Investment Fair Saeed and consultant of BIC happiest Samer, the integrity of the security situation in Basra, becoming one of the more stable areas in Iraq, which called for a lot of foreign companies, especially those operating in the oil sector to invest in them during the recent addition to the groups major investment such as AAC group Arabia, which predicted its owner a profit equivalent to 120% per annum in Basra.
Asking the head of the delegation Mazen peaceful security situation in Basra as he window any Kuwaiti investor or the Gulf, he said, in general the situation is stable in Basra, where it became a protected existence of the interests and investments of many international companies there, such as a company's oil, which has a large share in the investments within the city .
He added that in spite of the small airport, but the movement of a permanent travel to Basra, and this demonstrates the stability and confidence of the world the existence of stability in Basra.
Legislation and laws
On the development of mechanisms and standards to attract foreign investors, either through legislation or laws or amendments to the law in Basra, said the peaceful: We made an amendment to the Act 13 in 2006, a slight modifications, but the basic materials and the outline of the law continued as is, without amendment, and the most important characteristic of the law :
1 - encourage investor
2 - and there are many incentives
3 - customs exemptions
4 - exemptions from taxes completely for 10 years since the beginning of commercial operation of the project
5 - land free of charge to turn ownership of the land on behalf of the investor for 50 years, renewable (but ownership of the land with regard to residential investment only The rest of the projects, there is no ownership of the land but the investment period will be about 30 or 50 years, subject to renewal in addition to the transfer of funds).
He pointed out that the legislation in general is excellent and includes many of the privileges and inspired by all the experiences of countries in the world, pointing out the problems of red tape that you intend to Iraqi state get rid of him soon, bureaucracy and documentary course, knowing that the investment in Basra is very flexible in this matter.
Investment plans
For the new plans with respect to encourage and attract Kuwaiti investments during the next phase explained Mazen peaceful he compares Basra with Iraq's provinces Others are more city by the achievements of investment in various sectors of residential, agricultural and industrial, but can not compare them to Kurdistan because it has a special status with respect to precedence stability.
Infrastructure
On infrastructure projects, said that during the last three years has been the implementation of the largest number of projects, noting that the next budget 2014/2015 is a giant of the content of the mega-projects will be implemented, with a budget of about eight billion dollars in Basra, taking into account that the Basra The mayor gets a dollar for every barrel of oil source, but in the current law has become a get 5 dollars on each barrel of oil source, and is currently exporting about 2 million barrels will arrive within two to four million barrels.
Implementation decision
And Bsalh decision to implement the projects have, however, from Basra, said that there Basra Board of Governors has a 35-member, and the governor of Basra, is the chief executive and the Council of the governor and therefore the governor proposes development projects are subject to the vote center of the province and is the county seat watchdog on the implementation of those projects , taking into account the size of the powers of the Board to approve the investment in Basra up to $ 250 million and more than it has to be the approval of the senior leadership in Baghdad.
Time plan
With regard to the plan the schedules established in order to build Basra said the peaceful it is to have a plan sevenfold related to agriculture and water resources in Basra and for the province of Basra, in general, there is a five-year plan has already begun will occur a big boom, led by the industrial sector of oil, which will be directed Basra toward the advancement of economic and urban and industrial through the coming period.
Attractive sectors
On the sectors most attractive to Kuwaiti investors said that the Kuwaiti investor has investments in the oil sector, in addition to the electricity sector, wishing draws investors to the real estate sector to address the crisis of rising prices, which have suffered in Basra, although services and modest infrastructure modest but in some areas the price meter to 4 thousand dollars, such as Algeria, note that more than 60% of the land is the land of Basra, including an oil slick makes in limited geographic areas and specific know Basra population momentum, which includes more than 3 million people.
Kuwaiti investments
And Bsalh about the nature of Kuwaiti investments in Basra, he replied that the Kuwaitis are moving away completely from investing in Iraq, especially in Basra and their eyes on Kurdistan, the problem is not only in the Kuwaiti investor magnitude of investment in Basra is not a measure of ambition that we aspire to him despite the great facilities offered by Basra, in addition to the The security situation in Iraq in general is reflected negatively on the Basra safe and stable, the problem is not specific to Kuwaitis, but a general problem however is of Basra is Iraq's largest province that carried out by international investments.
The banking sector in Basra
And on the status of the banking sector said that the number of banks the local Iraqi in Basra more than 30 banks and Arab and foreign banks exceeded the 12 banks almost, and during the recent period has been the opening of many of the banks and we currently have about 5 Lebanese banks and a branch of the British bank and branches of U.S. banks.
Bsalh and the reasons for non-Iraqi investors directed towards investment in Kuwait said that the Iraqis know that Kuwait is almost complete investment and investment opportunities have a semi-tight.
He concluded Mazen peaceful statement of his speech, stressing on the availability of security and stability in Basra and the presence of a good number of Kuwaiti investors in Basra in various investment sectors, and called on all Gulf investors, especially Kuwaiti to seize the opportunity and move towards investment in Basra in various economic sectors without any restrictions.
700 million dollars invested a Saudi company in Basra
The adviser said the Basra Investment Commission Alasamer The happiest of the leading investors in Basra Saudi Group estimated the size of its investments in Basra, about 700 million dollars, a group AAC Arabia which operates in the electricity sector.
Participants of the Iraqi delegation
Ensure that the Iraqi delegation hosted by «news» both: a member of the Board of Directors of the Investment Authority in Basra Mazen peaceful and consultant of BIC happiest Samer and both just happy and Aladdin Canaanite members of the Basra Investment Commission.
Basra, Iraq's economic capital in Brief
The province of Basra from more provinces of Iraq safer compared to the rest of Iraq's provinces, as well as the enjoyment of the riches of oil and natural enormous enabled it to be the investment environment fertile for each foreign capital and Arabic, and has the Basra oil fields are huge, large factories, ports and wealth of a variety of agricultural, they are a variety of resources of the economic aspects and comes on top of its economic resources «oil» that resource, which is the lifeblood of the world today and as a result change maps and put new maps, the cities of Basra is oil with a distinctive large reserve addition, there are agricultural resources. sutu ended.
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Sunday, January 26th, 2014 - The News
Mazen peaceful and happier Samer and just happy and Aladdin Canaanite during their talk with the editor colleague Yousef and Khalid Al-Marzouq, deputy chief editor colleague Adnan Rashid
Editor colleague Joseph and Khalid Al-Marzouq, deputy chief editor colleague Adnan Rashid with the members of the delegation city of Basra Investment Commission (Hani Al-Shammari)
Fellows Zaki Othman, secretary of economic liberalization and Mahmoud Farouk members of the delegation during the visit of the city of Basra Investment Commission's «news»
Basra has become a «protected» the presence of international companies and there is nothing to worry about security
Gulf investor to give him priority in the implementation of projects .. The hours for project approval
Economic legislation and laws flexible and help to attract foreign investment
8 billion dollar budget Basra .. We have a five-year plan will make the city of Basra achievements
Mahmoud Farouk
sent a delegation Investment Authority, the city of Basra State of Iraq, a message to Kuwaiti investors in particular, and the Gulf in general, in which they expressed their welcome investors at any time without any restrictions or bureaucracy to deal, stressing that the speed of achievement in the approval of projects they have no more than a few hours , in reference to their determination towards the development of Basra during the next 5 years. confirmed the Iraqi delegation, which was hosted by «News» and chaired by a member of the Board of Directors of BIC, a member of the Chamber of Commerce Mazen and peaceful presence of the Director of Water Resources in Basra Aladdin Canaanite and member of the Board of Directors of the Basra Investment Fair Saeed and consultant of BIC happiest Samer, the integrity of the security situation in Basra, becoming one of the more stable areas in Iraq, which called for a lot of foreign companies, especially those operating in the oil sector to invest in them during the recent addition to the groups major investment such as AAC group Arabia, which predicted its owner a profit equivalent to 120% per annum in Basra.
Asking the head of the delegation Mazen peaceful security situation in Basra as he window any Kuwaiti investor or the Gulf, he said, in general the situation is stable in Basra, where it became a protected existence of the interests and investments of many international companies there, such as a company's oil, which has a large share in the investments within the city .
He added that in spite of the small airport, but the movement of a permanent travel to Basra, and this demonstrates the stability and confidence of the world the existence of stability in Basra.
Legislation and laws
On the development of mechanisms and standards to attract foreign investors, either through legislation or laws or amendments to the law in Basra, said the peaceful: We made an amendment to the Act 13 in 2006, a slight modifications, but the basic materials and the outline of the law continued as is, without amendment, and the most important characteristic of the law :
1 - encourage investor
2 - and there are many incentives
3 - customs exemptions
4 - exemptions from taxes completely for 10 years since the beginning of commercial operation of the project
5 - land free of charge to turn ownership of the land on behalf of the investor for 50 years, renewable (but ownership of the land with regard to residential investment only The rest of the projects, there is no ownership of the land but the investment period will be about 30 or 50 years, subject to renewal in addition to the transfer of funds).
He pointed out that the legislation in general is excellent and includes many of the privileges and inspired by all the experiences of countries in the world, pointing out the problems of red tape that you intend to Iraqi state get rid of him soon, bureaucracy and documentary course, knowing that the investment in Basra is very flexible in this matter.
Investment plans
For the new plans with respect to encourage and attract Kuwaiti investments during the next phase explained Mazen peaceful he compares Basra with Iraq's provinces Others are more city by the achievements of investment in various sectors of residential, agricultural and industrial, but can not compare them to Kurdistan because it has a special status with respect to precedence stability.
Infrastructure
On infrastructure projects, said that during the last three years has been the implementation of the largest number of projects, noting that the next budget 2014/2015 is a giant of the content of the mega-projects will be implemented, with a budget of about eight billion dollars in Basra, taking into account that the Basra The mayor gets a dollar for every barrel of oil source, but in the current law has become a get 5 dollars on each barrel of oil source, and is currently exporting about 2 million barrels will arrive within two to four million barrels.
Implementation decision
And Bsalh decision to implement the projects have, however, from Basra, said that there Basra Board of Governors has a 35-member, and the governor of Basra, is the chief executive and the Council of the governor and therefore the governor proposes development projects are subject to the vote center of the province and is the county seat watchdog on the implementation of those projects , taking into account the size of the powers of the Board to approve the investment in Basra up to $ 250 million and more than it has to be the approval of the senior leadership in Baghdad.
Time plan
With regard to the plan the schedules established in order to build Basra said the peaceful it is to have a plan sevenfold related to agriculture and water resources in Basra and for the province of Basra, in general, there is a five-year plan has already begun will occur a big boom, led by the industrial sector of oil, which will be directed Basra toward the advancement of economic and urban and industrial through the coming period.
Attractive sectors
On the sectors most attractive to Kuwaiti investors said that the Kuwaiti investor has investments in the oil sector, in addition to the electricity sector, wishing draws investors to the real estate sector to address the crisis of rising prices, which have suffered in Basra, although services and modest infrastructure modest but in some areas the price meter to 4 thousand dollars, such as Algeria, note that more than 60% of the land is the land of Basra, including an oil slick makes in limited geographic areas and specific know Basra population momentum, which includes more than 3 million people.
Kuwaiti investments
And Bsalh about the nature of Kuwaiti investments in Basra, he replied that the Kuwaitis are moving away completely from investing in Iraq, especially in Basra and their eyes on Kurdistan, the problem is not only in the Kuwaiti investor magnitude of investment in Basra is not a measure of ambition that we aspire to him despite the great facilities offered by Basra, in addition to the The security situation in Iraq in general is reflected negatively on the Basra safe and stable, the problem is not specific to Kuwaitis, but a general problem however is of Basra is Iraq's largest province that carried out by international investments.
The banking sector in Basra
And on the status of the banking sector said that the number of banks the local Iraqi in Basra more than 30 banks and Arab and foreign banks exceeded the 12 banks almost, and during the recent period has been the opening of many of the banks and we currently have about 5 Lebanese banks and a branch of the British bank and branches of U.S. banks.
Bsalh and the reasons for non-Iraqi investors directed towards investment in Kuwait said that the Iraqis know that Kuwait is almost complete investment and investment opportunities have a semi-tight.
He concluded Mazen peaceful statement of his speech, stressing on the availability of security and stability in Basra and the presence of a good number of Kuwaiti investors in Basra in various investment sectors, and called on all Gulf investors, especially Kuwaiti to seize the opportunity and move towards investment in Basra in various economic sectors without any restrictions.
700 million dollars invested a Saudi company in Basra
The adviser said the Basra Investment Commission Alasamer The happiest of the leading investors in Basra Saudi Group estimated the size of its investments in Basra, about 700 million dollars, a group AAC Arabia which operates in the electricity sector.
Participants of the Iraqi delegation
Ensure that the Iraqi delegation hosted by «news» both: a member of the Board of Directors of the Investment Authority in Basra Mazen peaceful and consultant of BIC happiest Samer and both just happy and Aladdin Canaanite members of the Basra Investment Commission.
Basra, Iraq's economic capital in Brief
The province of Basra from more provinces of Iraq safer compared to the rest of Iraq's provinces, as well as the enjoyment of the riches of oil and natural enormous enabled it to be the investment environment fertile for each foreign capital and Arabic, and has the Basra oil fields are huge, large factories, ports and wealth of a variety of agricultural, they are a variety of resources of the economic aspects and comes on top of its economic resources «oil» that resource, which is the lifeblood of the world today and as a result change maps and put new maps, the cities of Basra is oil with a distinctive large reserve addition, there are agricultural resources. sutu ended.
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