Investment Authority announces a qualitative shift in attracting foreign investment to the Iraqi market

Baghdad - INA

The National Investment Commission announced today, Thursday, the issuance of licenses worth $69 billion, while indicating a qualitative shift in attracting foreign investment into the Iraqi market.

The head of the commission, Haider Makiya, told the Iraqi News Agency (INA): "The residential cities are working at full speed and it is hoped that the steps will accelerate so that we can notice the achievement on them soon," indicating that "there are important investment projects as the commission was able to issue investment licenses worth 69 billion dollars, of which 66 billion dollars are foreign money that we attracted to the Iraqi market, and this is a qualitative shift in investment and attracting investment to Iraq."

Makiya added, "These companies are major foreign companies and sometimes Iraqi companies in alliance with foreign companies." 

Regarding the delivery of residential units in the Bismayah complex, Makkia explained, “There is a timetable for the authority to receive the apartments from Hanwha Company. The company delivers a group of residential units ranging from 5,000 to 6,000 residential units, and sometimes if the pace of work is increasing, the number may increase beyond that. We have received these units, and we, in turn, deliver them in batches to the citizens.”