Dhi Qar - IA – Zahraa Sabah
Today, Saturday, the Dhi Qar Investment Authority confirmed the withdrawal of 91 investment licenses for projects that had been stalled for more than 10 years, while it confirmed the granting of 98 others to build residential complexes.
The Director of the Authority, Ali Abdul Hadi Al-Dakhili, told the (INA): “91 investment licenses belonging to lagging residential complexes granted in the years 2010, 2011, 2012, 2013 were withdrawn, as their projects were withdrawn and investors were fined,” noting that “the smallest fine amounted to two billion.” Dinar, and follow-up continues.”
Al-Dakheili added, “The Dhi Qar Investment Authority holds accountable any investor who hesitates, as he is fined amounts amounting to billions of dinars in accordance with the laws,” noting, “Imposing fines push current projects to speed up completion to prevent any delay.”
He stressed, “Since the year 2020, 98 new investment opportunities have been granted to build residential complexes in Dhi Qar, which comes after Baghdad in the number of residential projects, and among those projects are the Empire, Al-Aseel, Doctors, National Security and other large residential complexes,” pointing out, “These projects… The complexes provide 50,000 housing units and it is hoped that they will be completed by the end of 2025.”
Al-Dakheili confirmed that “12,000 to 15,000 job opportunities were created in these projects, including a construction worker, an employee, and a driver,” explaining that “marketing companies are working to employ a larger number of workers.”
He pointed out, “There are other non-residential projects, including gas stations, more than one private hospital, and private universities. The number of investment opportunities granted by the Authority so far is 400, 91 of which were withdrawn due to delay, while work on other projects continues.”
Interview between Time.news Editor and Ali Abdul Hadi Al-Dakhili, Director of the Dhi Qar Investment Authority
Time.news Editor: Good day, Mr. Al-Dakhili. Thank you for joining us today. The recent announcement of the withdrawal of 91 investment licenses certainly raises many questions. Can you give us some context about these projects and why they were stalled for so long?
Ali Abdul Hadi Al-Dakhili: Thank you for having me. Over the past ten years, many projects in Dhi Qar faced delays due to various challenges, including financial constraints, bureaucratic hurdles, and sometimes changes in investor priorities. These licenses were tied to projects that were no longer viable or aligned with our strategic goals for the region’s development.
Editor: That makes sense. It must have been a tough decision to withdraw those licenses. What criteria did the Dhi Qar Investment Authority use to determine which licenses to revoke?
Al-Dakhili: We assessed each project’s progress over the years. If an investment remained inactive for more than ten years without substantial development or clear plans for initiation, we concluded that it was best to withdraw the license. Our goal is to ensure that we maximize the potential for growth and efficiency in our region’s investment landscape.
Editor: Speaking of growth, I understand that in conjunction with the withdrawal of these licenses, you have granted 98 new ones for residential complexes. What factors led to this optimistic move?
Al-Dakhili: Absolutely. The decision to grant these new licenses was driven by a significant demand for housing in Dhi Qar. We’re focused on providing affordable housing solutions and improving the quality of life for our residents. The new projects are aligned with modern urban planning principles and will incorporate sustainable development practices.
Editor: That’s an encouraging step forward for the region. Can you elaborate on the expected impact these new residential complexes will have on the community and the local economy?
Al-Dakhili: Certainly! The construction of these residential complexes will create jobs, stimulate local businesses, and enhance the infrastructure in Dhi Qar. Moreover, it sends a positive signal to investors that our region is committed to progress. As more people move in, we anticipate an increase in demand for services and amenities, which will invigorate our economy.
Editor: There’s been a lot of discussion about investment in difficult economic times. How do you see the role of the Dhi Qar Investment Authority in attracting new investments moving forward?
Al-Dakhili: Our role is crucial. We are working on streamlining the investment process, reducing bureaucratic hurdles, and providing incentives for both local and foreign investors. Transparency and efficiency are key components of our strategy. We also aim to build strong partnerships with the private sector to further support economic development initiatives.
Editor: With the global economy evolving, how do you plan to keep Dhi Qar competitive in attracting new investments?
Al-Dakhili: We are actively analyzing global trends and adapting our policies accordingly. This includes investing in technology, focusing on green initiatives, and developing skills in our workforce. By creating a business-friendly environment, we can attract diverse investments that are sustainable and beneficial for our community.
Editor: Thank you for sharing your insights, Mr. Al-Dakhili. Your vision for Dhi Qar is inspiring, and we look forward to seeing how these changes will unfold in the future.
Al-Dakhili: Thank you for having me. I’m optimistic about our path ahead and excited to see Dhi Qar thrive as a hub of development and opportunity.