Alsumaria News - 09/19/2012 - 9:42 pm | Hits: 22
Alsumaria News / Babylon
announced the Investment Commission of Babylon, Wednesday, announced the signing of a memorandum of understanding with a group Malaysian companies to build housing complexes for employees Oil Products Distribution Company to maintain, and as shown that the total value of the project amounted to 70 billion dinars, confirmed that the apartments of these complexes will be distributed in installments. said Deputy Director General of the Abbas-Tai said in an interview for "Alsumaria News", "Authority and signed a memorandum of understanding with the group of companies Nezer Malaysian to build housing complexes for employees Oil Products Distribution Company in hand denominator (18 km south of Hilla), and an area of 55 dunums," noting "The total cost of this project amounted to 70 billion dinars." said Tai that "apartments of this complex will be distributed to employees in installments," noting that "the construction of the complex will be vertically and horizontally and at 300 units." For his part, Chairman of the Board of Directors of companies Nezer Malaysian Shiar Ali Khadr for "Alsumaria News", that "the company visited the site and made plans about creating complexes," pointing out that "there is a great desire to set companies in completing the project as soon as possible." He Khadr that "group of companies Nezer has long experience in the field of housing, bridges and construction of hospitals, where granted a guarantee for 60 years, "explaining" it already has built housing units in the Malaysian and Lebanon, in addition to the compound of the olive tree in Erbil and complexes in the province of Nineveh. " The Investment Commission of Babylon awarded, in 2010 0.44 an investment license for the establishment of a number of projects, where allowed it to be the first at the administrative and technical according to the classification of the National Investment. and Iraq's parliament approved in October 2006 Iraqi investment law, who was with him at the time he would open the doors to foreign investment, due to submission a lot of facilities to foreign investors, but many foreign companies are still hesitant because of fear of actually unstable security in Iraq, adding that the law did not give investors the right ownership of the property for the project, and equated the Iraqi investors and foreign each privileges, except ownership property, as can a foreign investor from renting land for 50 years, renewable for, according to paragraph 11 of the Investment Law. and investors should be brought their projects to the National Commission for Investment, or the Investment Commission of the region, or province, for investment licenses, and can apply leave investment to the "circle of single window", developed by the National Investment Commission, and authorized to inform the investor the final decision of the Commission within 45 days, to eliminate administrative red tape in granting leave investment.
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