June 28, 2010
Investment Authority confirms readiness to provide all guarantees for investors and companies
بغداد ـ الصباح Baghdad morning
The president of the National Investment Sami Raouf Al-Araji fully prepared to provide all guarantees and facilities guaranteed by the investment law for investors wishing to invest in Iraq and in diverse sectors, including oil.
He said in press statement MEMRI issued by the Information Office of the Investment: that there are privileges and facilities several guaranteed investment law in this area, including free entry of capital and bring him with benefits in cash from Iraq with an exemption from fees and taxes for 10 years and other benefits accorded to investors, indicating that the Investment Law and its amendments No. 2 in 2010 with the liquidation of the Investment Law No. 64 of crude oil for 2007 are an ideal situation and a new investor who wants to invest in oil sector.
Araji said: the refining capacity to be achieved by refining the four proposed investment, in addition to the rehabilitation of existing refineries will have more than 1.5 million barrels per day, as well as the establishment of plants to produce electrical energy estimated capacity, with its 1600 to 1800 MW consumed part of it to run the new plants and other part In addition to the national grid.
He continued: that the cost of investment in refineries, which seeks four new oil ministry to set up would be about 25 billion dollars, and that investment in refineries will be either through direct investment or the participation of the Ministry of Oil on the basis of partnership between public and private sectors.
He stressed: The National Investment Commission is seeking with the Oil Ministry to contribute to the absorption of part of the unemployment through the operation of labor-skilled and unskilled, because these refineries will a revival in the field of oil refining which will reflect positively on the economies of the provinces which will be held where».
He expressed the relentless quest to attract foreign investment in economic sectors for the country's oil sector, as well as the creation of real investment partnerships between the private and public sector Iraqis and foreign private sector.
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