By John Lee.
On Thursday, Dr. Haider Mohammed Makkiya, President of the National Investment Commission (NIC), met with a team from the United Nations Development Programme (UNDP), led by Mr. Mamunur Rashid, the Environment, Energy, and Climate Change Program Portfolio Manager.
According to a statement from the NIC, the discussions focused on enhancing cooperation between the Kuwait Direct Investment Promotion Authority (KDIPA) [!?] and the United Nations to improve the country's investment environment, emphasizing the importance of social and environmental justice, and considering citizens' rights concerning climate change and investment.
Dr. Makkiya highlighted the NIC's role in providing investment opportunities aimed at reducing emissions. This includes granting an investment license to the French company TotalEnergies for a solar power plant projected to produce 1000 MW of electrical energy. Collaborative efforts are also underway with the Ministry of Electricity on additional solar energy projects.
Dr. Makkiya stressed that Iraq currently presents an attractive environment for foreign investments. He noted that Iraq's laws now recognize foreign judgments, which enhances its appeal to international investors. Additionally, KDIPA is working with the UNDP to develop a comprehensive climate investment plan in collaboration with relevant sectoral entities.
(Source: NIC)
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