NIC Signs a Strategic Cooperation Memorandum with KOTRA 01/13/2013

2013/01/13 11:38
For the Purpose of Increasing the Korean Investments in Iraq,




NIC Signs a Strategic Cooperation Memorandum with KOTRA





The National Investment Commission represented by its chairman Dr. Sami Al-Araji has signed a strategic memorandum of cooperation with the chairman of the Korean Organization for Development, trade and investment (KOTRA) O young Hu to increase the size of investment and economic exchange between Iraq and South Korea.

In his speech in this occasion Dr. Sami Al-Araji reviewed the investment opportunities available in the country, urging the Korean companies to invest in all economic sectors in Iraq for the interest of both countries.

The signing ceremony was attended by Deputy Minister of Economy and Knowledge and both countries' ambassadors in addition to 200 companies and 60 businessmen

Dr. Sami Al-Araji met the Korean Minister of Land, Transport and Maritime

During his visit to Seoul Dr. Sami Al-Araji met the Korean Minister of Land, Transport and Maritime (Kune Do Yupp) to discuss the ways of developing cooperation in economic sectors in Iraq for the interest of both countries

Dr. Sami Al-Araji confirmed during a press conference in this occasion that Bismayah New city Project is in progress and the implementation is going as planned,

Dr. Sami Al-Araji urged the Korean companies to enter the Iraqi market that has great economic and investment opportunities on the international level

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KOTRA

Korea Trade-Investment Promotion Agency

KOTRA (Korea Trade-Investment Promotion Agency) is a non-profit, governmental agency of Republic of Korea committed to promoting international trade and investment. KOTRA Los Angeles as part of KOTRA’s worldwide network of over 100 offices in 70 countries, offers a wide variety of initiatives to support U.S. clients.
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Korean Builders Win US$1.45 bln in Overseas Orders
Hit : 8Date : 2013-01-07

South Korean builders have won a combined US$1.45 billion deals from the Middle East and other regions over the past few weeks, a trade group said Monday, raising expectations for their better performaces in overseas markets this year.

Doosan Heavy Industries & Construction Co., South Korea's leading power equipment manufacturer, has clinched a $520 million deal to build two power plant boilers in India, according to the International Contractors Association of Korea.

The construction arm of Samsung C&T Corp. has secured a $100 million deal to construct a building for a local bank in Saudi Arabia. Hyundai Heavy Industries Co., the world's largest shipyard company, bagged a $290 million order to build an oil refinery and terminal in the kingdom's southwestern economic city of Jazan, according to the association.

Daelim Industrial Co. has signed a $210 million deal to build a 100-megawatt power plant in the Philippines.

Hyundai Amco Co., the construction unit of automaker Hyundai Motor Group, has clinched a $180 million deal to construct a new building in California for Hyundai Motor America, a U.S. unit of Hyundai Motor Co.

Hyundai Motor and its smaller Kia Motors Corp. are the flagship companies of the world's fifth-largest automotive group.

STX Heavy Industries Co., a unit of South Korea's STX Group, has signed a $150 million order to build a gas turbine plant in Iraq, according to the association.

The association predicted local builders to clinch overseas orders worth more than $70 billion this year.

South Korean builders won overseas orders worth $64.9 billion in 2012, up 9.8 percent from a year earlier, according to the Ministry of Land, Transport and Maritime Affairs. But the volume was lower than the government's target of $70 billion, it added.



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