Home
$ 6 billion the amount of money in foreign investment inflows to Baghdad alone
On: Sun 08/28/2011 19:21
Baghdad: the citizen
*****demand for investment in Iraq, especially in the capital Baghdad,***** it seemed, according to chief investment Baghdad, Shaker al-Musawi, *****gradually rising investment and in particular the Gulf, *****noting that the volume of inflows of foreign funds *****actually reached the capital of nearly $ 6 billion. *****Moussawi said in an interview (citizen) that the number of projects allocated already to the end of last month amounted to more than 114 project for a total of 5 billion and $ 394 million is added to funds projects that have been referred through the days, thirty years, and all these projects have been allocated land will be carried out, are divided over a 21-residential project and 26 tourism project, and 14 of the industrial sector and 41 in the commercial sector and service, and four projects in the health sector and three in the agricultural sector and two in the education sector. and detect the presence of a great desire to investors and owners of capital from the Gulf in particular want to enter the sector investment in the capital, but mostly they are now turning towards Almkstreet the surest and most profitable, such as the housing sector and industrial and recreational ml amusement parks, hotels, restaurants, and entered several projects United Arab Emirates, and Saudi companies, such as Dalla invest in housing, there is a desire for Saudi companies and Chinese to invest in the markets of central and converted to moles of major and Investment Fair in Baghdad international levels. Chief Investment Baghdad highlighted the most important problems of investment, which is in the public budget allocations for the investment, pointing out that 75% of the budget goes to the sector, operational, and the remaining investment, and here we found that the allocations of 25 years to come are not sufficient to meet spending half of the projects that have contracted out , and here is the Arab and foreign investment is an urgent need. He explained that until 2015, will do more than 400 thousand residential units, and the plans and the dates fixed. And if the investment is the Gulf and foreign higher in some provinces than in the capital, said al-Moussawi that by numbers the money, we find the capital, is the highest there is focus on being the capital of Iraq and also the number of population and investment opportunities more material resources higher, and there is a large turnout of foreign companies to enter Baghdad and requests for too many come to us every day, and we are working to remove obstacles in front of them which can be summarized in the allocation of land and complete the transaction despite the fact that the law emphasized the completion of any request within 14 on, but Help is not implemented, unfortunately. Another problem lies in the potential of local banks civil does not exceed the capital of some of the cost of the project and one of the mega-projects, and this is the dilemma of our work to find appropriate solutions through, and most companies bring their money from abroad and deposited guarantees with the World CBI, as the system will convert the deposits of citizens who wish to purchase investments in these banks, and here we will increase the size of its capital gradually, but the condition is not clouds, but approval of the Chairman of the Investment Authority and also protect the funds of investors themselves. He said the Commission is currently preparing surveys include all Iraqi ministries wishing to set up housing complexes to its employees and actually began the configuration of the complex project of the Ministry of defense, education, health and reporters on the condition that the coordinates of these bodies for space implementation was limited to 7500 acres after excluding the 750 dunums as agricultural land and areas of impact not can invest within them, and all of these contracts will be reported to the Korean company has been contracted to build 100 thousand residential units, 224 residential units will be the pilot cities, and will be distributed the last of all citizens, without exception, according to the method of direct purchase. He disclosed that the new bill would be the establishment of an industrial city $ 200 million dollars outside the municipal boundaries of the capital will be allocated for light and medium industries, the goal of which is to be an alternative location for industries that are located within the capital, let alone create a city big warehouses to increase storage within cities and convert it to this city in the vicinity of the capital and decrypt traffic jams, and there are projects related to waste and the agricultural sector and health . and on the most important privileges under the law No. 7 of the investment, and are there benefits can be secured, even if not contained in the law, said the law, which is the rate of the previous law carry a lot of privileges that were given to the investor the local, Arab and foreign alike, such as the right to enter the capital and out and the introduction of employment and technology transfer, tax and customs exemptions 100% ownership of the land free of charge to the investor of foreign and local in the field of housing, and have apartments for citizens during the period of achievement, and determined the rate of 2% of the value of rent and agrarian ideals, and tourism, 5%, health and education 5% instead of rent It amounts at very low the whole is supportive of bringing investors, stressing that the entry of foreign companies to Baghdad, appeared to escalate dramatically for consideration and you measure it by the amount of investment that exceeded 5 billion in less than two years, and within the 100-day investment reached one billion and $ 300 million.
[You must be registered and logged in to see this link.]
