BIC has discussed with Irish companies the possibility of creating joint cooperation and establishing investment projects in Basra in a step to create local partnership; they agreed to hold the first Irish Economic Conference in Basra in cooperation with BIC. The representative of the Irish group revealed that they have executed many major projects all around the world and in Kurdistan and that they intend to expand their projects by investing in Basra.

With the participation of the chairman of BIC, Mr. Khalaf Al- Badran, the governor of Basra, Khalaf Abdul Samaad, have met the investment committee and the representative of the consulting company which is responsible for designing the New Basra City.

Abdul Samaad stressed during the meeting the need to respect time when executing projects, adding that, the local government in Basra is working hard to construct integrated cities not included within the basic design of Basra as well as constructing 100000 housing units.

The chairman of BIC, Mr. Khalaf Al- Badran, revealed during the press conference that BIC has succeeded in 2011 to attract 30 investment projects with a total cost of 1,101,55 billion Iraqi Dinars. He added that BIC has held 14 workshops and 14 investment conferences as well as receiving senior delegations and representatives of major investment companies. He also appreciated the efforts of BIC for developing the systems and procedures of investment.

Al- Badran revealed that 2012 will witness the execution of a number of investment projects in various sectors and that BIC will work hard to create the best competitive investment environment. He referred to the main obstacles facing investment in Basra and the routine procedures that are followed in some directorates.

In a step to facilitate its duties, BIC has moved to its new location in Al- Ashaar, near the Red Bridge. At the same time, the chairman of BIC, Mr. Khalaf Al- Badran, revealed that the coming period will witness many economic conferences in order to attract various investments and to view the investment map of Basra.

It is worth mentioning that BIC was established under the Iraqi Investment License No.13 in 2006. The main tasks of BIC are:

1-     Granting investment licenses.

2-     Identifying and securing strategic investment opportunities.

3-     Promote investment, activate and guarantee the provisions of the investment law.

The Governor of Basra, Dr. Khalaf Abdul Sammad, has discussed with a local investor the possibility of obtaining investment opportunities in the petrochemical and gas sectors as well as the construction of a five stars hotel on the banks of Shatt Al- Arab. Th meeting was attended by the chairman of BIC, Mr. Khalaf Al- Badran, who revealed that BIC is working hard in order to facilitate the work of the local investors; he also confirmed the availability of appropriate lands for various investment projects.

On the other hand, the Governor of Basra said that," we are about to construct two integrated cities containing 1000 housing units each"; he also stressed the need to provide the best services to the citizens of Basra.

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