The Investment Authority details the procedures for “Mall of Iraq” and responds to the statements of its owner.
The Investment Authority details the procedures for “Mall of Iraq” and responds to the statements of its owner.
2026-06-14
Shafaq News – Baghdad
On Sunday, the National Investment Commission issued a statement clarifying the legal procedures related to the “Iraq Mall” project, in response to what was circulated in the media and statements by the project’s owner, Hassan Nasser, regarding exemption requests and power outages.
Hassan Nasser, the owner of “Iraq Mall,” announced during a press conference that the mall is threatened with closure within 48 hours due to power outages, and financial losses estimated at about one and a half billion per month.
Nasser also said that the mall is facing major operational difficulties as a result of fluctuating electricity supply, which may lead to its complete closure during the aforementioned period.
The statement issued by the commission, and received by Shafaq News Agency, said that the first official communication from “Jewel of Baghdad for Investment and Real Estate Development” company, the owner and implementer of the project, was dated 5/24/2026, and was received from the Baghdad Investment Commission to the National Investment Commission, in which it requested that the mobile power station for the project with a capacity of 132.33 MVA be included in the customs exemptions.
She added that the Authority contacted the Ministry of Electricity on 2/6/2026 after the request was studied by the technical department to obtain the necessary approvals from the relevant sectoral authorities. The Ministry of Industry and Minerals was also contacted on 1/6/2026 via the electronic platform to determine the possibility of manufacturing the station locally or not, in accordance with the law protecting local products.
The authority explained that the investor submitted a pledge on 6/8/2026 to pay the customs duties if the station could be manufactured locally by the Ministry of Industry, noting that the General Authority of Customs was contacted to include the station in the exemptions in order to speed up the procedures.
She explained that the General Authority of Customs responded on 6/10/2026 with a rejection due to the lack of a legal basis, while emphasizing the need for the approval of the Ministry of Industry and Minerals as an effective legal basis. The approval of the Ministry of Industry was received on 6/14/2026 stating that it is not possible to manufacture these stations locally, which gives the Authority the legal powers to follow up on the procedures for bringing in the electrical station.
The statement added that the Authority, while welcoming criticism and media follow-up, expresses its regret for the issuance of statements that included personal characterization and targeting of some of its employees, stressing that its staff perform their duties in accordance with applicable laws and instructions.
The commission affirmed that its doors are open to receive complaints and objections through official channels, calling on investors to adhere to the approved legal procedures, and stressing its continued support for investment projects that contribute to the development of the Iraqi economy.
shafaq.com
