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Iraqi Egyptian agreement in the field of joint investment

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Iraqi Egyptian agreement in the field of joint investment
FRIDAY, 03 MAY / MAY 2013 16:50

Twilight News / Iraq concluded an agreement in Cairo with Egypt to encourage and protect investment between the two sides and support the technical and investment cooperation between them and to encourage businessmen to establish joint development projects.

Like Iraq in the signing of the agreement Sami al-Araji, head of the Iraqi National Investment while, such as the Egyptian side and Investment Minister Osama Abdel Moneim favor.

According to reports received for "Twilight News" that the agreement aims to create a safe environment for joint investments, and encourage investors to pump more investments and projects in a market governed by rules and legislation creating the investment.

He announced the two parties for the start of coordination to explore the possibility of paying more joint investments, and take advantage of the prospects and investment schemes and the current development in Iraq, which are summarized in the draft Industrial Zone Bhtin, and scheduled to be held along the lines of the system economic zones, to specialize in mechanical and electromechanical, which is expected to have expertise Egyptian investment with a large post, next to housing projects allocated to middle-and low-income people.

He also stressed the Iraqi side on the need to take advantage of the expertise of the Egyptian side and sector investors Egyptian real estate in this area, in addition to tourism projects prepared now to set up area Shatt al-Arab city of Basra, which asked Iraqi officials to use corporate Egyptian for Developing and pushing these projects, tourism and developmentally.

The agreement also includes a proposal of cooperation between enterprises of chemical industry of the two countries in the field of manufacture of the drug, including helping to meet the needs of the market from both sides.

The parties have signed a memorandum of understanding for technical cooperation and investment between the two countries on Baghdad in 2009.


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