Government authorizes Investment Committee to contract with Korean company

Baghdad (IraqiNews.com) The Iraqi Government authorized the acting head of the National Investment Committee, Sami al-Araji, to contract with Korean Hanwa Company to construct Besmaya New City.

The spokesperson of the government, Ali al-Dabbagh stated in a press statement received by IraqiNews.com on Tuesday “The Council of Ministers held its regular meeting where it decided to authorize Araji to sign the modified contract and grant the investment authorization.”

“The Ministry of Trade was allowed to purchase the items of the ration card with a preferable price in 5% maximum from the price of the imported products in order to encourage the private and general industrial sector,” he added.

“The government also increased the capital of al-Rafidain bank with 400 billions of Iraqi Dinar and al-Rashid bank with 300 billions of Iraqi Dinar,” he concluded.