Free Zones sign 4 contracts with UAE Company to invest in Khor Al-Zubair
The authority said in a statement reported for " Shafaq News " that “ The first contract has been signed with the oil derivatives company with a land area of 20 000 square meters”.
It added that the contract included the establishment of the second service project with an area of 1600 square meters to provide special oil services and logistics as well as providing maintenance services for oil projects .
The authority said that the last two contracts has been signed with the company for the exercise of commercial activity , indicating that the area of one of them amounted to 30 000 square meters.
Free Zones have witnessed active investment movement in recent period as a result of local, Arab and foreign investment in them.
Iraq includes three free zones in Khor Al-Zubair in Basra , Fulayfel in Nineveh province and the other based in Anbar province .
Iraq is looking forward to the creation of more free zones, benefiting from the experience of neighboring countries, in response to requests made by the Iraqi provinces , including Diyala and Najaf.
Free Zones in Iraq are based on Law No. 3 of 1998 , which was activated in 1999 , but the outbreak of 2003 war had destructed what had been built.
