Baghdad:The National Investment Commission (NIC) has announced that Iraqi capital holds the largest share of both implemented and licensed investments within the country. This highlights a positive balance between local and foreign capital in Iraq’s investment climate.
According to the Iraqi News Agency, NIC spokesperson Hanan Jassim stated that the Iraqi private sector dominates key sectors such as housing, real estate, industry, services, and trade. In contrast, foreign and Arab investments are primarily directed towards large-scale, strategic projects that require modern technologies and significant capital, including energy and manufacturing infrastructure.
Jassim explained that the NIC views local and foreign investments as complementary. Local capital acts as the primary economic driver and national partner, while foreign investments contribute to technology transfer and increase foreign capital inflow. To support these efforts, the Commission has streamlined procedures, facilitated transactions, and reduced the time required for issuing investment licenses through the ‘Single Window’ department.
Further measures include the provision and preparation of land, achieved through ongoing coordination with ministries and governorates to allocate sites and resolve ownership issues. The Commission also promotes partnerships between local and international companies to bring expertise and technology into Iraq.
The NIC ensures comprehensive legal protections under the amended Investment Law No. 13 of 2006, providing equal opportunities for investment projects. The law offers various benefits, including tax exemptions up to 10 or 15 years, depending on Iraqi investor involvement, and exemptions from customs duties for imported assets and equipment.
Incentives extend to logistical support, market studies, and economic analyses to direct capital toward high-productivity sectors. The private sector is increasingly a direct partner in city-building and infrastructure projects, such as sustainable and smart cities and investment housing complexes.
Jassim emphasized the adoption of modern technologies in service management, including smart automated waste collection systems and environmental applications. The NIC is also transforming service-related challenges into investment opportunities, encouraging private sector investment in renewable energy, waste management, and strategic transport projects to ease the state budget while delivering quality services to citizens.