Baghdad: The National Investment Commission announced on Thursday the approval of measures to support investors in Iraq. According to National Iraqi News Agency, the Commission’s Chairman, Adel Dakhel Al-Yassiri, conducted an expanded meeting with the committee responsible for reviewing the instructions for issuing investor ID cards. This meeting was chaired by the Director General of the Department of Relations and Media, Haider Hamada, to discuss the final draft of regulations governing the issuance of these ID cards and the associated privileges.

During the meeting, the Chairman approved the committee’s minutes and the new instructions, subsequently submitting them to the General Secretariat of the Council of Ministers. This move aligns with the provisions of the amended Investment Law No. (13) of 2006. The Chairman highlighted that completing the investor ID procedures is part of the Commission’s commitment to supporting investors, regulating their status, and providing them with necessary facilities, thereby strengthening the investment environment in Iraq.

The ID card serves as a regulatory tool that grants investors a range of facilities and privileges to help them meet the requirements of their investment projects. Among the most prominent advantages is the ability to obtain necessary facilities from government departments and the public sector, facilitating residency procedures for foreign investors, and simplifying procedures for opening bank accounts or securing necessary financing from financial institutions.

The commission further explained that this step is part of the National Investment Commission’s ongoing efforts to develop a more effective system of procedures for investors. The aim is to provide regulatory tools that facilitate investor activities, enhance confidence in the investment environment, and support the implementation of investment projects in Iraq.