Dhi Qar withdraws the licenses of 22 investment projects, most of which are for the housing sector

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[size=52]Dhi Qar withdraws the licenses of 22 investment projects, most of which are for the housing sector[/size]

[size=45]Dhi Qar / Hussein Al-Amel[/size]
[size=45]The Dhi Qar Investment Commission revealed the withdrawal of licenses from 22 investment projects, most of which are related to the residential sector, and while it issued 60 warnings, it indicated 174 sites that have been suspended for more than 3 years due to the failure to hand over their sites to investors by the municipality department.[/size]
[size=45]The head of the Dhi Qar Investment Authority, Ali Al-Dakhili, said, "The total number of projects of the Dhi Qar Investment Authority amounts to 323 projects that have been granted to investors since the establishment of the authority until the present time."[/size]
[size=45]Al-Dakhili added, in a statement to Al-Mada, that "quite a few investment projects have entered commercial operation."[/size]
[size=45]He pointed out that "most of the residential complexes allocated to ministries and government departments have been completed or work continues on them at a high rate."[/size]
[size=45]Al-Dakhili spoke about "a number of housing projects that have been fully completed, including the (Tina) housing project, a housing project for judicial departments and judges, two projects for the Integrity Commission, a housing project for employees of the Treasury Department, and others."[/size]
[size=45]He stressed, "There are 174 projects that were approved for about 3 years or more, with a value exceeding one trillion Iraqi dinars."[/size]
[size=45]Al-Dakhili added, however, that “the municipality department did not complete its plans, did not conclude contracts with investors, and did not hand over its sites to them,” warning that “the projects are of various purposes, including commercial and service complexes, and others.”[/size]
[size=45]And he stated, "The Integrity Commission had previously opened a file to investigate this matter, while the local administration moved in this direction," and added that "the matter is still pending and has not been resolved until the present time, despite the formation of a committee to ratify the plans in the Investment Commission."[/size]
[size=45]Al-Dakhili finds that “the Investment Authority is unable to hold the investor accountable or withdraw the investment license from him before he officially handed over the site,” adding that “the municipality’s failure to hand over the sites to the investors is a major reason for not directing them.”[/size]
[size=45]He noted, "The investment controls emphasize commitment to handing over the site, signing the contract, and completing the plans from the concerned departments." Al-Dakhili stated, “The investor was able to hold him accountable, six months after handing over the site, in case he was lagging behind in his work.” And he went on to say, “This is what made us unable to hold the laggard, fictitious investor, or land speculator accountable.”[/size]
[size=45]Al-Dakhili stressed, “60 warnings were issued to lag companies and 22 investment opportunities were withdrawn from lag companies.”[/size]
[size=45]He noted that “most of the companies that have been held accountable are housing companies; It is directly related to the affairs of citizens.”[/size]
[size=45]Al-Dakhili goes on to say, “The work will focus during the coming period on approved projects, reviewing and evaluating their performance, and holding those lagging behind accountable.” He added, “The plan also includes granting qualitative, not quantitative, investment opportunities.”[/size]
[size=45]Al-Dakhili went on to "the importance of the financial competence of the investor and the sobriety of the investing company when granting new licenses."[/size]
[size=45]In addition, informed sources said, “The failure to hand over investment sites to investors and the municipal departments’ procrastination with their administrative procedures are all due to administrative and financial corruption aimed at putting pressure on investors.”[/size]
[size=45]And the sources continued, “The delay in handing over the sites is in the interest of some of the contracting investors who do not have the financial competence and are working to trade in them.”[/size]
[size=45]She pointed out, “The Investment Authority’s inability to hold incompetent investors accountable and withdraw investment licenses from them before handing over the investment site.”[/size]
[size=45]And she emphasized, “Handing over the sites, holding reluctant investors accountable, and withdrawing investment licenses from them is in the interest of the municipality department, which can, accordingly, recover its lands that are still suspended and have not benefited financially from them, because the rental fee cannot be obtained before handing over the site.”[/size]
[size=45]Investment projects in Dhi Qar face a number of challenges, most notably red tape, administrative and financial corruption, and tribal objections.[/size]
[size=45]Clan objections and conflicts in Dhi Qar Governorate, in which clans make up more than half of its population, are one of the most important reasons threatening the future of investment projects in the province, as clans claim that they have the right to dispose of agricultural land that falls within the clan’s speculators, although they do not have proof of that. Official documents.[/size]
[size=45]Observers confirm that this has prompted the investors to enter into multiple rounds of negotiations with the clans, which are usually settled by paying the money, and when a specific agreement is not reached, the stage of waving and threatening the clan force begins, forcing the investor to stop work for fear of his life and the lives of the workers in the investment project. to be implemented.[/size]
[size=45]Among the investment companies that were subjected to tribal threats at the end of November 2022 was the Golden City Company, which is working in the municipal housing project located in the Al-Mohiyah area, a suburb of Nasiriyah.[/size]
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