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Source: Journal-term - 25/12/2011
Investment Baghdad granted leave to 137 local and foreign firms
Authority announced the investment of Baghdad, yesterday granted an investment license for the 137 local companies and foreign financial value amounted to about six billion dollars, indicating that 56 of those licenses were awarded during the current year, as pointed out that most of them in the field of construction of residential complexes.
The chief investment Baghdad Shaker Zamili, on the sidelines of a conference held by the Board on discussion of the reality of investment in Baghdad that "the Commission granted 137 investment license to Iraqi investors and foreign financial value amounted to six billion dollars during the past three years," noting that "56 of those licenses were awarded During the year 2011. "
He Zamili that "this leaves on the field of housing, especially in the districts of six of the city of Baghdad, according to the best designs and international standards in the construction of modern houses," adding that "among these projects is the construction of housing units in the district of Taji, and by 1000 housing units, in addition to build 1,000 housing units in the district of Mahmudiya, and two compounds in the unit to eliminate the cities and by 1800 housing units for both. "
The Zamili that "the Commission also awarded four leaves of investment in education, including an investment license for the establishment of the American University and leave for the establishment of the university property and leave the other to create the International University of Lebanon, as the Board shall examine leave the fourth for the establishment of the University of Malaysia," pointing out that "the authority is working to establish large industrial cities, especially in the industrial city of Nahrawan and the area of 2000 acres. "
The Iraqi parliament has approved in October of 2006, the Iraqi investment law, which it was said at the time that it will open the doors wide open to foreign investment, due to introducing a lot of facilities to foreign investors, many foreign companies still hesitate because of fear of the security situation, instability in Iraq, in addition to that the law did not give investors the right to ownership of the property the project, and equated the Iraqi investors and foreign, in all the privileges, except own the property, as can a foreign investor to rent the land for 50 years, renewable, according to Paragraph 11 of the Investment Law.
It is incumbent upon investors to submit their projects for the National Commission for Investment, or the Investment Commission of the region, or province for investment licenses, and can apply for investment license to the "circle of single-window", developed by the National Investment Commission, and authorized to inform the investor's decision to the final in 45 days to eliminate the red tape in granting investment license.
It is noteworthy that Iraq suffers from a severe housing crisis due to the increasing number of Iraq's population, compared to the number of residential complexes, in addition to the inability of citizens with limited income from the construction of housing units of its own because of the high cost of land and construction materials.
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Investment Baghdad granted leave to 137 local and foreign firms
Authority announced the investment of Baghdad, yesterday granted an investment license for the 137 local companies and foreign financial value amounted to about six billion dollars, indicating that 56 of those licenses were awarded during the current year, as pointed out that most of them in the field of construction of residential complexes.
The chief investment Baghdad Shaker Zamili, on the sidelines of a conference held by the Board on discussion of the reality of investment in Baghdad that "the Commission granted 137 investment license to Iraqi investors and foreign financial value amounted to six billion dollars during the past three years," noting that "56 of those licenses were awarded During the year 2011. "
He Zamili that "this leaves on the field of housing, especially in the districts of six of the city of Baghdad, according to the best designs and international standards in the construction of modern houses," adding that "among these projects is the construction of housing units in the district of Taji, and by 1000 housing units, in addition to build 1,000 housing units in the district of Mahmudiya, and two compounds in the unit to eliminate the cities and by 1800 housing units for both. "
The Zamili that "the Commission also awarded four leaves of investment in education, including an investment license for the establishment of the American University and leave for the establishment of the university property and leave the other to create the International University of Lebanon, as the Board shall examine leave the fourth for the establishment of the University of Malaysia," pointing out that "the authority is working to establish large industrial cities, especially in the industrial city of Nahrawan and the area of 2000 acres. "
The Iraqi parliament has approved in October of 2006, the Iraqi investment law, which it was said at the time that it will open the doors wide open to foreign investment, due to introducing a lot of facilities to foreign investors, many foreign companies still hesitate because of fear of the security situation, instability in Iraq, in addition to that the law did not give investors the right to ownership of the property the project, and equated the Iraqi investors and foreign, in all the privileges, except own the property, as can a foreign investor to rent the land for 50 years, renewable, according to Paragraph 11 of the Investment Law.
It is incumbent upon investors to submit their projects for the National Commission for Investment, or the Investment Commission of the region, or province for investment licenses, and can apply for investment license to the "circle of single-window", developed by the National Investment Commission, and authorized to inform the investor's decision to the final in 45 days to eliminate the red tape in granting investment license.
It is noteworthy that Iraq suffers from a severe housing crisis due to the increasing number of Iraq's population, compared to the number of residential complexes, in addition to the inability of citizens with limited income from the construction of housing units of its own because of the high cost of land and construction materials.
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