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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Integrity: 333 billion cost of investment projects in Dhi Qar, most of which are not implemented or

    Rocky
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    investment - Integrity: 333 billion cost of investment projects in Dhi Qar, most of which are not implemented or Empty Integrity: 333 billion cost of investment projects in Dhi Qar, most of which are not implemented or

    Post by Rocky Mon 23 Oct 2023, 4:51 am

    Integrity: 333 billion cost of investment projects in Dhi Qar, most of which are not implemented or at low rates.

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    Economy News - Baghdad
    On Sunday, the Investigations Department of the Integrity Commission revealed that investment licenses had been granted in “very large amounts” exceeding hundreds of billions of dinars. To implement projects in Dhi Qar, “none of them saw the light.”
    The department said in a statement, “The Dhi Qar Investigation Office detected violations in (19) investment licenses granted by the Dhi Qar Investment Authority for various projects at a cost of (333,117,074,000) three hundred and thirty-three billion dinars,” noting that “the licenses were granted to establish residential, commercial, educational, and laboratory complexes.” Producing solar cells, plastic tubes, medicines, medical supplies, a wood factory and furniture production, as well as a car showroom, warehouses, trade shows, household materials, showrooms and shops.”
    The department indicated that “the reports of the office’s External Audit Division and the technical expert confirmed that there was no real economic feasibility for most of these projects in line with the market need, that they did not provide job opportunities, and that their completion rate was low.”
    She continued, "The cost of constructing (4) low-quality residential complexes amounted to (161,890,378,000) one hundred and sixty-one billion dinars, explaining that the Dhi Qar Investment Authority did not conclude a contract with the investor and the Nasiriyah Municipality Directorate (the owner) to create a fifth residential complex," pointing out that “The investor did not provide local or foreign sources of funds or a financing body letter issued by an accredited financial institution, and without submitting similar work, and I noticed that the investment opportunity was referred without an announcement and an investment map, in violation of Investment Law No. (13 of 2006) as amended.”
    She continued, "The investment licenses that were granted included the establishment of a pharmaceutical and medical supplies factory at a cost of (49,036,965,000) forty-nine billion dinars, a car showroom city at a cost of (42,052,750,000) forty-two billion dinars, a solar cell production plant at a cost of (41,853,820,000) forty-one billion dinars, and other... "The investment opportunities that were granted, none of them were implemented on the ground."
     


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