Iraq signs investment contracts of more than 63 billion dollars

Iraq signed with a large number of investment companies in the world for decades to set up projects with a resurrection more than 63 billion dollars. The most prominent of these projects, according to head the Iraqi National Investment Authority, Dr. Ahmed Reza,

Establishment of the great port of Basra and the reconstruction of Baghdad International Airport, in addition to building housing units and the city will prepare an integrated housing of the largest modern cities in the Middle East. Riza said in an exclusive statement to "Assabah": "We have introduced during the current year investment projects and very broad, they were Signed contracts with several different companies worldwide, pointing out that the establishment of these contracts are: 12 billion dollars for the establishment of the port of Basra and 17 billion dollars to build the Baghdad airport, setting up a business and building hotels. He added that the projects also include the establishment of 200 thousand housing units and hotels, many tourism city Cornish Kufa to Najaf governorate, cost 34 billion dollars, in addition to the establishment of the city of Kut the new value of 650 million dollars. The Prime Minister Nuri al-Maliki said in his speech to parliament yesterday on the preparation of the government plan to rebuild the country and develop the sectors of education, electricity, oil, health and railway Iron and other sectors, and revealed the existence of a project for establishing the "higher council for reconstruction," and send ten thousand students outside the country and develop a plan to the reality of electricity during the 3-4 years, announcing the Government's determination to raise standards of the export of oil from (6-8) Million barrels Iumiaraes National Investment Authority, told "Sabah" on the sidelines of the Construction and Investment II, which concluded its work in Cairo recently, that the conference was a qualitative leap in the number of attendees on one hand and serious desire to see investment opportunities in Iraq on the other hand, noting that Side meetings between investors Iraqis, Arabs and foreigners was an advanced step in the discovery of investment opportunities in Iraq and the discovery of the benefits and safeguards set by the Law No. 13 in 2006, which witnessed the signing of the company (C. Krupp) investment contracts with four Iraqi provinces, to create many investment projects, noting in The same time that the company will begin early next year to invest in (Diwaniyah, Anbar, Karbala and Nasiriyah) and then move to other provinces.
He added that the Iraqi delegation was presented during the Cairo conference large investment projects in all governorates to build housing complexes and hotels, first class, pointing out that investment opportunities in this year's big "We must take advantage of them because they can be non-existent in the coming years, or less than opportunities This year 2008, which raised the slogan that (general investment and reconstruction).
The Council of the Baghdad governorate, according to a certain El-Kazhemi President of the Council in an interview earlier of the "morning", five priorities for the implementation of projects within the campaign of reconstruction and building announced by the government early this year. And on the merits of the investment law, Iraqi and Arab laws compared with other global, Reda said: that the law guarantees many advantages investors do not know, so when asked the Iraqi delegation, investors realized that the latest law to invest in the region, so relieved investor for a period of ten years of tax and give the land for 50-year renewable term and gives all the equipment and machinery and assets for projects exempted from customs duties, in addition to soft loans can be obtained from banks with a freedom that prevents the capital to any state and any currency without impediments or obstacles, also guarantees the investor's lack of confiscation or nationalization Any project within the Law No., 13 in addition to that it can be used non-Iraqi workers in case of non-presence of workers turns out to Iraqis in the project and have the right to convert all their salaries and emoluments they receive, in any convertible currency abroad.
And on the Egyptian companies registered to invest in Iraq said Dr. Ahmed Reda: It was recorded 600 Egyptian companies in the Register of Companies in the Ministry of Trade and all wish to invest in Iraq, pointing to the existence of the "Giant very much" put up for implementation in Iraq is the creation of an integrated city with all its economic and residential units Universities, hospitals, schools and roads will implement the most important Egyptian investors in Iraq and on a very wide area has been allocated land and would start in the coming days to implement, pointing out that a large number of Iraqi investors also started to invest since the founding of the year 2006, since many of them registered to invest in the country, and came From abroad are varied and numerous projects for investment.

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