Disclosing results of investigating information about offering site of (leather industries) for investment

Prevention Office calls for obtaining fundamental approvals for investment projects and determining granting regulations

CoI’s Prevention Office recommended that Ministry of Industry and Minerals must obtain the fundamental approvals from the concerned parties on the proposals of investment projects, in a way not inconsistent with the basic design of Baghdad and the provinces.

In a report on the visit of its team to the Ministry of Industry and the Inspector-General office at the Ministry, the Office called for verifying the information reported in one of the news agencies that was monitored by CoI’s Information Center about the sale of the headquarters of the State Company for Leather Industries to an investor; to build a commercial mall with the intention of the Ministry to seconded the company`s employees to Baghdad outskirts, it called the Ministry and the Office of Inspector-General to study the information and to take the appropriate action in this regard.

The report stressed that all proposal of investment project should be through the investment department in the Ministry; to determine the regulations of granting approvals for investment projects proposed by its subsidiaries in coordination with the National Investment Commission

The report pointed out that the board of directors of the State Company for Leather Industries, at the late last year addressed the Ministry to obtain the fundamental approvals to announce all the company`s distinctive locations in Baghdad and the governorates for investment to raise company`s resources. The Office indicated that investment is irrelevant with the company`s traditional activity, with the existence of non-distinctive sites suitable to be alternative sites for factories, pointing that board of directors of the company responded to the demands of the employees, where it decided to exclude the headquarters of the factories from investment.