Construction Committee: International bids to be bigger, wider after endorsing late payment law draft

Baghdad (IraqiNews.com) MP, Ihsan al-Awadi, of the Parliamentary Construction Committee expected that the bids by the international companies will be bigger and wider after endorsing the late payment law draft.

Speaking to Iraqi News (IraqiNews.com), he said ” The Committee, during the last period of time, worked on settling all the breaches in this law draft,” pointing out “The mechanism of choosing the companies will be based on the fair competition to achieve the Iraqi benefit with the less benefits in addition to the least time and high quality.”

“There is a real interest by the Japanese, Korean and Chinese companies in this issue,” he added.

“Japan, Korea and China announced that the will the lenders to the companies that wish to work in Iraq according to this law,” he pointed out, noting that “This development will reveal the seriousness of those countries and there are several attempts with some countries like Germany and USA over this issue.”

“China intends to pay 10 USD Billions as a standby amount to those companies, whereas Japan allocated four USD Billions for its companies working in Iraq,” he concluded.