Al-Kadhimi: Cancelling the licenses for “0-35% completion” investment projects

INA – Baghdad

Prime Minister Mustafa Al- Kadhimi directed to cancel licenses for investment projects whose completion rate ranged between (0-35%).

Al- Kadhimi visited the Investment Authority and was briefed on the progress of work and the obstacles facing investment in the country as he directed the following: Canceling all licenses for investment projects whose completion rate is between (0 - 35%) where the specified time period for the implementation of the project has expired, and the number of projects to which this applies is 1128 projects, according to the media office of the Prime Minister, received by the Iraqi News Agency (INA).

Among the directives was a full commitment to implement the provisions of Article 28 of the Investment Law by sending warnings to unfinished projects.

The National Investment Commission shall supervise and follow up the implementation of procedures, in addition to withdrawing licenses in the event that the investor does not adhere to the completion period.