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The Investment Authority of Maysan has signed a contract with German company to establish a residential complex
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Translated by IRAQdirectory.com - [3/15/2009]
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The Investment Authority in province of Maysan, signed a memorandum of understanding with the German company (Gem group) to establish a residential complex consisting of 2000 units.
The Head of the Investment Authority in the province, Ali Warid said that a memorandum of understanding was signed with German company (Gem group) included an investment project consists of 2000 residential units as a start of in this area, and also the company should provide a method of financing the project and sale of apartments to the citizens, while the investment authority in the province will address the banks, which have the ability to fund such projects. We are pleased that the German companies have an important role in investment as well as in industries including the oil industry, noting that the investment environment in the province is suitable for investing in all areas, especially in the area of housing that the province in need for these projects and we are ready to give assistance in all fields.
For his part, the representative of (Gem Group) Klaus Rncmdt, said that the project includes the construction of residential apartments consisting of 3 floors, and the completion duration of the project would not exceed two years in the event of signing the final contract.
He noted that according to the proposals of the German Chancellor and the German Foreign Minister, the German companies will rush towards the Iraqi market for investment contracts in all areas.
Prime Minister Nuri Al-Maliki called on Iraqi investors and international companies to take advantage of the promising investment opportunities in Iraq, and to benefit from the advantages offered by Iraqi investment law to the investor. He pointed to the need for the cooperation between ministries and national investment authority to facilitate the procedures and allocate the lands for investment projects without hindrance.
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