The Investment Commission: Establishing new cities in the governorates and has set three criteria to encourage investment in Iraq
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Economy News - Baghdad
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Added 07/09/2023 - 11:54 AM
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Economy News - Baghdad
On Sunday, the National Investment Commission announced projects for new residential cities awaiting different governorates, stressing that the government focused on attracting solid companies to implement strategic projects, while setting three criteria to encourage investment in Iraq.
The spokesman for the authority, Muthanna Al-Ghanmi, told the Iraqi News Agency (INA), followed by "Al-Iqtisad News": "The privileges provided by Investment Law No. 13 of 2006 are that it did not differentiate between foreign or Iraqi investments, in terms of granting privileges, exemptions and guarantees, as it is the guarantor of companies." .
He added, "The Iraqi government focused on attracting solid companies to implement strategic projects in many economic sectors, and worked to provide investment opportunities with economic returns for the country."
And he pointed out, "The percentage of completion of projects by the operating companies in the implementation, the higher it will be, will be a point of attraction for the rest of the companies and for several projects," noting, "The successful project affects many economic sectors positively, and also provides space for achieving benefit and employing the workforce." .
And he indicated, "Raising the confidence of Arab and foreign investors to invest in Iraq depends on many things, including: the facilities in the law, its application, and the cooperation of the concerned sectoral authorities regarding investment and its positive repercussions on the national economy."
He stated, "The agreement included in the Arab-Chinese summit represents a step towards achieving strategic goals, and now the Iraqi government is in the process of implementing the path of development with a national vision and studied scientific steps, and it is one of the projects whose returns will be clearly reflected on the Iraqi economy, and it will achieve national goals." By saying: "According to the information available to us, the project is now in the process of studies and preparation for strategic investment opportunities."
He pointed out, "The commission in Baghdad and the provinces is working with the tourism and archaeological sectors to provide investment opportunities, as work is underway in Iraqi provinces to be a point of attraction for tourists," noting that "these measures depend on the extent to which investment opportunities are provided by the tourism commission, for the purpose of Work on it in coordination with specialized companies.
He stressed, "The commission is working on important vital sectors and projects, including: the recent announcement of (5) investment opportunities for the establishment of new cities in the governorates of Baghdad, Babil, Holy Karbala, Anbar and Nineveh, in coordination with the Ministry of Construction and Housing."
And he continued by saying: "This step went through several stages of work and long dialogue and consultation sessions with the local sectoral departments and advisory bodies to set differentiation criteria in the new cities, and the special requirements for caring for the sustainability clauses in the announced cities," stressing "the existence of new investment opportunities, which will be announced immediately after the completion of their special procedures." It will include other Iraqi provinces.
Prime Minister Muhammad Shia al-Sudani confirmed, earlier, that new residential cities will be built for all citizens, and their prices will not be high.
The Ministry of Construction and Housing confirmed, earlier, that the five investment opportunities mainly target the middle and poor classes.
She explained that the five investment opportunities were distributed in the Baghdad governorate in the new city of Al-Jawahiri located in the Abu Ghraib district / Al-Nasr and Al-Salam district, Tariq Camp (formerly), with an area of (7121) dunums, and in the governorate of Babel in the new city of Al-Jawahiri, with an area of (7000) dunums, while in the Karbala governorate, the opportunity was presented. Investment in the city of Dafaf Karbala with an area of (3000) dunums, while the opportunity was represented in the Anbar governorate in the new city of Fallujah with an area of (4085) dunums, and in the province of Nineveh, the new city of Ghazlani, the former Ghazlani camp, with an area of (4700) dunums.
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