Investment Opportunity in Babil

By John Lee.

Babylon Investment Commission (BIC) has invited investors to set up in the Industrial Zone at Al-Kefel, Babil. In a statement, the BIC said:

Babylon Investment Commission is pleased to announce completing the procedures of specifying the Industrial Zone borders in Al- Kefel area to be extended on parts of the lots numbered 17/1 and 17/6 on total area of 3000 Donum according to investment law No. 13 for the year 2006, amended.

Investors are invited to invest in this zone according to the following conditions:

The zone is allowing all environment polluting industries of types (A, B, and C) excluding Bricks and Asphalt factories.

Investor is required to provide the following documents annexed to his/her filled application:

  • Economic and technical feasibility study for the project
  • The project technical drawings
  • The investor’s official identification papers and documents
  • Financial competency from an accredited bank with the project funding details
  • A clear time table for completing the project phases
  • Previous similar achieved projects

The investor shall obtain all privileges and guaranties of investment law as tax and customs exemptions, transfer of capitals, revenues and workers fees, in case the investor is a foreigner, according to the instructions of the Central Bank of Iraq.

Applications submitted through the email shall be accepted, providing that official documents are provided before granting the investment license.

For further information, please visit Babylon Investment Commission website www.bic.gov.iq or send an email to [email protected]

(Source: NIC)

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