BIC signs memo with American companies

BASRA / IraqiNews.com: The Basra Investment Commission signed on Wednesday a memorandum of understanding with American companies to set up a world-class modern city in the province, according to a statement of the BIC. “Basra Investment Commission held a joint conference with a coalition of U.S. companies, JK and Businessmen Union and the Federation of Industries and Chamber of Commerce in Basra for the purpose of identifying the investment atmosphere and signed a joint memorandum of understanding that would facilitate the establishment of a project a world-class modern city (Barakat Park),” said the statement received by IraqiNews.com news agency. “The city would import services and manufactured products in America, in addition to providing various types of services to assist in the training and rehabilitation of local employment for the purposes of development planned in the the province.” Basra is 590 km south of Baghdad. SH (P)/SR 913