Based on Cabinet Resolution No. (24931) for the year 2024, controls for investment projects exempt from announcement and competition requirements, prepared by the National Investment Commission, have been approved. This is based on Paragraph (Secondly/2/a/2) of Axis Two of Cabinet Resolution No. (23374) for the year 2023, as follows:

Firstly: Types of Projects Covered by the Exemption

1. Specialized projects that require precise technical expertise and knowledge, including:

   • a. Specialized hospitals with no less than (100) beds, based on a study submitted by the investor.

   • b. Modern technology projects and digital economy projects with added value, with the approval of the competent sectoral authority, provided that the project value is not less than (250) million US dollars or its equivalent.

   • c. Circular economy (recycling) projects with added economic impact.

2. Renewable and clean (sustainable) energy projects with a production capacity of no less than (80) megawatts, to be submitted by specialized international companies with relevant experience and similar work in the sector.

3. Creative projects, including:

   • a. Projects based on innovative ideas by the investor, provided they are feasible and have added economic value.

   • b. Investment commissions in the governorates are committed to notifying the National Investment Commission and other governorate commissions when issuing any license for a creative project, to avoid duplication of the idea.

   • c. These projects must not conflict with the provisions of Consumer Protection Law No. (1) of 2010, to avoid monopoly cases.

4. Projects established on lands burdened with usufruct rights, provided the usufructuary agrees, and in compliance with the content of the General Secretariat of the Council of Ministers' letter No. (Q/2/1/107/19244) dated 2023/5/3.

5. Projects of prestigious international brands in sectors such as hotels, tourism, restaurants, theaters, and archaeological and historical sites.

6. Projects established on privately owned land (private or mixed), provided the land's classification matches the use, and original approvals are obtained from the competent sectoral authorities.

7. Large strategic projects with a capital of no less than (1) billion US dollars or its equivalent in Iraqi dinars, which require foreign expertise and are implemented by reputable international companies with at least (10) years of practical experience and a record of no less than (3) similar projects.

Secondly: Guarantees Required for Exempted Projects

The National Investment Commission determines the guarantees that must be provided for projects covered by the exemption, which include the following:

• a. Submission of a financing plan approved by a financial institution (local or foreign) for no less than (50%) of the capital.

• b. Use of modern technology or high technical specifications, with endorsement from the competent authorities.

• c. Determination of the state's share in revenues, in addition to the percentage of services or exemptions granted to the citizen.

• d. Commitment not to change the specified activity or add a new activity, and the project or the shares of the investing company may not be transferred or sold to others.

Thirdly: Effective Date

These controls are effective from the date of their approval by the Cabinet on 2024/12/3.

Contact Iraq law company

We hope this brief explanation of the controls for investment projects exempt from announcement and competition in Iraq has been helpful. If you have any legal inquiries or require assistance in understanding or applying these controls to your projects, we strongly encourage you to contact a specialized law firm in Iraq.

Legal advisors can provide the necessary guidance to ensure full compliance with laws and regulations, and protect your investment interests.