Iraqi delegation in Cairo to take advantage of the experience of the Egyptian Investment Authority

08/17/2016 - 17:44

Visited by an official delegation of the Republic of Iraq, headed by Ali Yacoub head of the Investment Commission of Basra province, the Egyptian Investment Authority, within the World Bank's program for the development of investment Iraqi governorate.

Chief Executive Officer of the General Authority for Investment and Free Zones Mohammed Khudair and accept Wednesday with an official delegation from Iraq, headed by Dr. Yacoub on the head of the Investment Commission of Basra province the current role of the body and the various sectors to attract more investments to the Egyptian market.

The Commission said in a statement Wednesday that the delegation's visit comes within the framework of the World Bank's program for the development of investment and promotion in Basra province.

And it comprises 22 officials from the World Bank and the National Commission of Iraq for Investment and the Investment Authority in Basra.

She explained that it was reviewing investment services automation systems Complex services of the body in order to provide the time and effort undecided investors to the sector.

The head of the visiting delegation allowed in the tour of the investment services complex to determine the nature of the services provided to investors, where the delegation listened to an explanation of the complex chairman Mustafa Ali about the mechanisms of action targeting mainly easier for investors to get integrated services Speaking brings together all government agencies that deal with investors in one place in order to improve the environment in which offers investment services.

Khudair said, "We are delighted to share experiences with our colleagues in the sister Republic of Iraq in order to support technical cooperation between the two countries."

For his part, the head of the Iraqi delegation, "Come visit us today for Egypt within the World Bank's program for the development of investment and promotion in Basra province, and we hope to identify the Egyptian experience to develop a mechanism of our labor."

The representative of the World Bank, the bank's quest for the transfer of expertise at the regional level between Egypt and Iraq in the presence of representatives of the private sector in Iraq, including some businessmen who have investments in Egypt and have previous experience in dealing with the Egyptian market.

The delegation also listened to a briefing by Dr. Iman Mansour, head of the center of the settlement of the dispute body on the procedures followed by the Center for the settlement of disputes between investors.

The visit of the Iraqi delegation to the Investment Authority in the framework of the memorandum of understanding signed in 2013 between the General Authority for Investment and National Investment Commission of the Republic of Iraq.

And The Board has trained nearly 488 Iraqis in the investment, insurance, stock exchange and capital market areas, and was greeted with a delegation of 18 representatives of government agencies and the National Commission for the Iraqi investment.

It should be noted that Iraq is ranked 25 in the list of countries investing in Egypt, where the number of Iraqi contributions to 3324 companies with a capital of Iraqi reach $ 492 million and employs 4015 workers and cover the activities of companies and industrial, agricultural and service and construction sectors.