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Prime Minister Mustafa Al-Kazemi issued, on Wednesday (April 21, 2021), three directives regarding investment in the country.
The Prime Minister’s Office stated, in a statement received by IQ NEWS , that “Al-Kazemi visited the Investment Authority and was briefed on the progress of work and the obstacles facing investment in the country.”
He added that "Al-Kazemi directed the cancellation of all licenses for investment projects whose completion rate ranged between (0-35%) and the time period available for the implementation of the project has expired, and the number of projects to which this applies is 1,128 projects."
The office stated, "The Prime Minister also directed a full commitment to implementing the provisions of Article 28 of the Investment Law by sending warnings to unfinished projects, and the National Investment Commission shall supervise and follow up the implementation of procedures," indicating that "licenses are withdrawn in the event that the investor does not adhere to the completion period."
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