Deputy Prime Minister and Foreign Minister Chairs 27th Meeting of Ministerial Council for Economy

On Monday, September 2, 2024. Deputy Prime Minister, Foreign Minister and Chairman of the Ministerial Council for Economy Mr. Fuad Hussein, chaired the Ministerial Council for Economy 27th Meeting, which was held at the Ministry of Planning headquarters. The Meeting was attended by Deputy Prime Minister and Minister of Planning, the Ministers of Finance, Trade, Agriculture, the Secretary General of the Council of Ministers, the Governor of the Central Bank of Iraq, Prime Minister’s advisors for Economic and Legal Affairs, Chairman of the Securities Commission, and Oil Ministry Undersecretary.

The Council discussed the topics on its agenda and took the necessary decisions regarding them. As well the Council hosted the Director-General of the Directorate of Housing at the Ministry of Housing and Construction to discuss stalled residential complex projects and the best ways to complete those projects. The Council decided that the Ministry would announce the sale of those residential complexes and calculate the values ​​of the amounts spent as an initiation line for competition between investors when submitting their offers.

Additionally, the Council hosted the Director General of Planning and Follow-up and the Director General of the General Commission for Groundwater at the Ministry of Water Resources to discuss the issue of random use of groundwater and organize it. The Council decided to submit a clear and detailed study on the groundwater map, and to prepare controls and mechanisms for granting approvals for drilling wells in coordination with the Ministries of Agriculture and Industry and Minerals, in addition to including artesian well drilling equipment in the import license after the approval of the sectoral authority.

The Council decided that the Ministry of Water Resources would prepare a detailed study for the projects (Irrigation of Amara and Reclamation of the Middle Tigris).

The Council also hosted the head of the Central Organization for Standardization and Quality Control and the head of the Federation of Iraqi Chambers of Commerce to discuss the implementation of the Council’s decision regarding granting the Iraqi quality mark and the tracking tape for goods (barcode), which entered into force.

The Council recommended to the Council of Ministers to approve the allocation of an amount of (3) million dollars to secure and update the systems of the Iraqi Deposit Center at the Securities Commission.

The Council also decided, based on the request submitted by the Federation of Iraqi Industries, to recommend to the Council of Ministers that the customs duty for ground plastic granules and plastic granules be (0.5%).

The Council approved the request of Imathia Spanish company which is implementing the Basra-Shalamcheh rail line, to provide a performance bond amounting to 5% of the contract value within 21 days from the date of signing the contract, based on the instructions for implementing government contracts, and to confirm to the Ministry of Transport that this line be used exclusively for transporting passengers. The Council also approved the completion of the project to construct a building for female students’ dormitories at the University of Baghdad, and approved the increase in the total cost of the projects to equip specialized equipment for the municipalities of Ramadi and Fallujah, and to establish a water project for government departments in the 7 kilometers area in Ramadi.