Najaf investment withdraws several vacations due to delays and legal irregularities



11/10/2017 04:40 | Number of readings: 58


Trend Press


The Chairman of Najaf Investment Commission, Durgam Kiko, on Wednesday, to withdraw more than 30 investment licenses due to the delay of the work of the investor and its violation of the law.

"The Investment Authority is applying the law to investors who violate the law and are hesitant to act," Kiko said in a statement on October 11, 2017.

"More than 38 investment projects have been completed this year in full and 120 investment projects under construction in stages of completion. We have a team to follow up projects with investors to complete them on time and according to the project outline," Kiko said.

"The municipality of Najaf for more than a year did not raise any investment opportunity to the Investment Authority because of bureaucracy in the Ministry of Municipality."

"The country is going through a severe financial crisis, so we have to invest the investment law and do it legally to win an economic resource for the province, rather than rely on the annual budget, which has declined significantly because of the war against Da'ash," he said.

Kiko called on the Ministry of Municipality and the Directorate of Najaf Municipality and the relevant departments to raise investment opportunities for the body because it will revive the country economically and help to reduce the unemployment rate and called for facilitating the routine routine procedures that delay the work of investment in Najaf and Iraq in general and especially that the investment law proceeded very well but was not implemented on the ground Especially from the relevant circles, he said.

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