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Consensus to activate investment activity in Iraq
Economical 05/16/2024
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The activities of the Third Iraq International Real Estate and Investment Exhibition were opened on the grounds of the Baghdad International Fair to showcase the efforts of the public and private sectors in addressing the housing crisis, the reconstruction projects that aspire to be implemented in various regions of the country, the local capabilities in dealing with the tasks of reconstruction and investment, and the advanced technology it possesses that saves effort and time.
Chairman of the Parliamentary Investment and Development Committee, Hassan Al-Khafaji, said: The Iraqi Investment Law encourages investment efforts and provides facilities for establishing important and solid projects and obtaining housing units in a way that addresses the population pressure that the country is suffering from. He pointed out that the country’s need for housing units exceeds 3 million housing units. Increasingly, investment in housing is considered the most successful among investments in Iraq due to the large demand for housing units.
Al-Khafaji stressed that the committee encourages investment through its powers, studies the challenges, and provides solutions to all the problems that represent an obstacle to investors, including those related to the government, represented by encouraging investment by adopting appropriate mechanisms, and others related to the House of Representatives, represented by amending legislation. Now we are working on amending the investment law in a way that regulates The investment process is carried out in a way that suits the needs of Iraq. As for the head of the Baghdad Investment Commission, Ali Al-Attar, he said: The government has placed reconstruction and development among its priorities, and this led us to work towards supporting development and its requirements in a way that achieves the highest levels of benefit to Iraq. He pointed to the necessity of organizing exhibitions Specialized sessions and dialogues contribute to exchanging ideas, identifying scientific developments that the world has witnessed, and working to benefit from their details in a way that serves the country. He stressed the importance of providing all the data that supports the development of performance and takes the country to true sustainable development. In turn, the President of the Iraqi Contractors Union, Ali, described Fakher Al-Sanafi highlighted the effective capabilities of the Iraqi contractor, based on evidence from projects implemented in various regions of the country.
Al-Sanafi said: The Iraqi contractor today has worked to develop the reality of its performance to levels that rise to international standards in many of its aspects.
He pointed out the importance of supporting the performance of the Iraqi contractor through the concerned departments in a way that achieves high flow in the implementation of projects in various sectors, and that providing the ideal atmosphere represents an inevitable necessity that advances the national economy and places it on the path of sustainable development that everyone seeks.
As for the economic affairs specialist, Hawraa Nouri Al-Qassab, she confirmed the possibility of addressing the housing problem in a phased manner in cooperation with the competent authorities. Al-Qassab said: The population pressure that Iraq is suffering from represents the accumulation of decades that the country has lived without the existence of a correct population policy, and today the course can be corrected by relying on the country’s own efforts, and there is no harm in participating in the international effort due to the capacity of the work. Al-Qassab pointed out that the Iraqi private sector today is capable of implementing horizontal and vertical housing projects and is leaving evidence in Baghdad and the governorates proving its implementation capabilities, which rise to global standards. She pointed out the importance of integration between the public and private sectors and working to address population pressure in a serious manner commensurate with the citizen’s ambitions.
As for the specialist in economic affairs, Qasim Al-Maliki, he stated that the capabilities of the Iraqi contractor are advanced and that he can handle the responsibilities of construction and reconstruction in various production and service sectors. Al-Maliki added that the Iraqi contractor today is leaving important evidence through his implementation of projects in all cities of Iraq, with high efficiency and specifications that rise to the international standard. The cooperation of the concerned authorities with contractors and their support represents an important step that advances the national economy, as integration between public and private institutions is extremely important.
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