Al-Kazemi directs to cancel more than a thousand investment licenses



2021-04-21 06:38



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Shafaq News / The Iraqi Prime Minister, Mustafa Al-Kazemi directed, on Wednesday, to cancel more than a thousand investment licenses for delayed projects.

This came during his visit to the Investment Authority and briefed him on the progress of work and obstacles facing investment in the country, according to a statement of his office received by Shafaq News Agency.

The statement stated that Al-Kazemi directed the cancellation of all licenses for investment projects whose completion rate ranged between (0-35%) and the time period available for the implementation of the project has expired, and the number of projects to which this applies is 1128 projects.

The Prime Minister also directed that he be fully committed to implementing the provisions of Article 28 of the Investment Law by sending warnings to incomplete projects. The National Investment Commission shall supervise and follow up the implementation of procedures.

Al-Kazemi also directed to withdraw the licenses in the event that the investor does not adhere to the completion period.–35


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