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BAGHDAD - INA
, President of the Investment Authority, Suha Al-Najjar, confirmed today, Wednesday, that the directives of Prime Minister Mustafa Al-Kazemi regarding investment will contribute to returning about 90 trillion dinars to the state.
Al-Najjar said in a statement to the Iraqi News Agency (INA), that "Al-Kazemi's directives to cancel the investment license for fictitious and lagging projects, that is, the percentage of completion of 35% or less, will have tangible results at the level of the economy in the short and long term."
She explained that "these directives will result in the restoration of more than 400 thousand dunams of land, after it was reserved under the umbrella of fictitious and unfinished investment projects."
And she continued, "The estimated value of these lands, at least, amounts to about 90 trillion Iraqi dinars, which are the rights of a state and people. It will return to state ownership and leave the phantom umbrella called investment projects."
The Prime Minister, Mustafa Al-Kazemi, had directed, during his visit to the Investment Authority, the following:
1- Canceling all licenses for investment projects whose completion percentage is 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 1128 projects. .
2- Full commitment to implement the provisions of Article 28 of the Investment Law by sending warnings to unfinished projects. The National Investment Commission shall supervise and follow up the implementation of procedures.
3- The licenses are withdrawn in the event that the investor does not adhere to the completion period.
[You must be registered and logged in to see this link.]
BAGHDAD - INA
, President of the Investment Authority, Suha Al-Najjar, confirmed today, Wednesday, that the directives of Prime Minister Mustafa Al-Kazemi regarding investment will contribute to returning about 90 trillion dinars to the state.
Al-Najjar said in a statement to the Iraqi News Agency (INA), that "Al-Kazemi's directives to cancel the investment license for fictitious and lagging projects, that is, the percentage of completion of 35% or less, will have tangible results at the level of the economy in the short and long term."
She explained that "these directives will result in the restoration of more than 400 thousand dunams of land, after it was reserved under the umbrella of fictitious and unfinished investment projects."
And she continued, "The estimated value of these lands, at least, amounts to about 90 trillion Iraqi dinars, which are the rights of a state and people. It will return to state ownership and leave the phantom umbrella called investment projects."
The Prime Minister, Mustafa Al-Kazemi, had directed, during his visit to the Investment Authority, the following:
1- Canceling all licenses for investment projects whose completion percentage is 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 1128 projects. .
2- Full commitment to implement the provisions of Article 28 of the Investment Law by sending warnings to unfinished projects. The National Investment Commission shall supervise and follow up the implementation of procedures.
3- The licenses are withdrawn in the event that the investor does not adhere to the completion period.
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