Economy Update – Baghdad
The National Investment Authority announced on Monday the functionalities of its one-window department aimed at streamlining investment procedures and minimizing bureaucratic hurdles.
The one-window department serves as the primary channel for investor engagement, designed to simplify the investment process within Iraq.
The authority detailed a range of essential services offered by this one-window approach, which include the issuance of investment licenses. This department provides the necessary permits for various projects, particularly strategic initiatives and those valued over $250 million. Furthermore, investors can submit and track their applications electronically through the dedicated online portal.
In addition to licensing, the one-window department offers essential advice and vital data to investors, complemented by the publication of specialized materials to assist in informed investment decision-making. The department also facilitates land allocation and leasing for potential investment projects by coordinating with relevant authorities to ensure conducive site selection.
Moreover, logistical support for investors is provided, encompassing assistance with obtaining entry visas, hotel accommodations, and transportation arrangements to ease visits to prospective project sites. The department aids investors in adhering to local statutes and regulations as well, which includes help with feasibility studies, company registration with the Ministry of Trade, and securing the necessary business operating licenses in Iraq.
Jassim emphasized that the goal of these services is to foster an attractive and transparent investment climate, thereby enabling both local and foreign investors to execute their projects efficiently and effectively, ultimately contributing to the country’s economic development.
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