INA - Baghdad
Head of the Investment Authority Suha Al-Najjar, confirmed on Wednesday, that the directives of Prime Minister Mustafa Al-Kadhimi regarding investment will contribute to returning about 90 trillion dinars to the state.
"Al-Kadhimi's directives are to cancel the investment license for fictitious and lagging projects, that is, the percentage of completion of 35% or less, will have tangible results at the level of the economy in the short and long term," Al-Najjar said in a statement to the Iraqi News Agency (INA).
She explained that these directives will result in the restoration of more than 400 thousand dunams of land, after it was reserved under the umbrella of illusory and unfinished investment projects.
"The estimated value of these lands, at least, amounts to about 90 trillion Iraqi dinars, which are the rights of a state and people. It will return to state ownership and leave the fictitious umbrella called investment projects," she added.