NIC is getting ready to adopt the (COMFAR) computer program to evaluate the feasibility of investment projects submitted to the commission in a digital process that is adopted in most of the developed countries.
NIC prepared a list of Iraqi companies willing to cooperate with the Japanese side to create investment partnerships between the two friendly countries within the framework of implementing the MOU signed between NIC and the Japanese Center for Cooperation with the Middle East (JCCME) at the end of last year during the second Arab- Japanese conference held in Tunisia.
Within the framework of the efforts of encouraging and enabling private foreign investment in Iraq and aiming at overcoming some obstacles that had faced the implementation of some investment projects, NIC adopted the concept of establishing Investment Zones
NIC Chairman, Dr. Sami Al- Araji assured that the commission is working hard to motivate the self funded productive sector to be companies ready to compete after rehabilitating and restructuring these companies in order to support the Iraqi private sector to take its important role.
NIC Chairman Dr. Sami Al- Araji assured the necessity of establishing a unified vision and a clear picture for the investment requirements in each province through continuous coordination between all concerned departments in the province represented by the provincial councils and investment commissions and committees adding that investment is not a substitute for the capital budget but is a complementary and supporting to reach the desired goal.
NIC Chairman, Dr. Sami Al- Araji received Ms. Park Soon Ja, Member of the South Korean Parliament and head of the Iraqi- Korean Parliamentary Relations, and the accompanying delegation and discussed the possibility of reinforcing means of economic and investment cooperation between the two countries.
Deputy Prime Minister, Mr. Rodj Nuri Shawees assured that Iraq is anxious to foster links of economic cooperation and trade in the fields of Housing, Industry, Agriculture, Health, Education, Trade and Telecommunication with the Republic of Finland.
NIC formed a committee that included Babil, Anbar and Basra investment commissions in order to draw a new strategy for investment commissions' work within the 100 days plan which had been set by the Iraqi Prime Minister to improve the ministries and independent commissions work.
NIC participated in the meeting held in the Ministry of Transport to discuss designs submitted to build Iraq Grand Port in Basra by the Italian company. The meeting was headed by the Minister of Transport Mr. Hadi Al- Amiry and attended by the ministry deputy ministers, a number of the Parliament members on behalf of Basra governorate, the Marine leader assistant, Ministries representatives and experts from the Ministry of Planning.
Basra Investment Commission chairman, Mr. Haidar Ali Fadhul said that there had a promotional and strategic sectoral plan been laid, as for the promotional side, it had been drawn to be in three stages the first is to achieve growth in the Iraqi private sector investment capacities since the commission had succeeded in attracting a number of local investors while the second stage is aiming at creating partnerships between expatriate Iraqi investors and the foreign capitals
Anbar investment Commission held a meeting in the One Stop Shop Dept. headed by the commission's Chairman, Mr. Farhan Awadh and attended by the commission's vice chairman and representatives of the provincial government, the provincial experts' office and managers of investment affairs departments.