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Many Investors Still Avoid Risks of Iraq

New York Times Original article ›

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The conditions of Iraqi industry, mostly state run industries, hobbled by corruption, poor infrastructure, poor roads , sporadic electricity, and bound by bureaucracy and central planning. This makes it hard to compete with cheap imports fromIran, Turkey and other countries. Iraq's chairman of the national investment commission, Sami-al-Araji, says he is after gradual change to an open economy.Currently Iraqi law forbids foreign company participation through owning equity. And $60 million investment deal from an Egyptian consortium for an electirical products factory here fell apart after the global crisis. The US stepped in with agrant to keep it running and its 3400 workers employed and not turning to the insurgency.

Iraqi industry and foreign investment prospects at the end of 2009.

09/28/2009

The gradual opening to foreign investment envisaged, and the problems of poor roads, sporadic electricity, bloated payrolls, and competition from cheaper imports from Turkey and Iran.

Grouped Articles

Many Investors Still Avoid Risks of Iraq

New York Times 09/28/2009

Oil Majors Boost Plans to Expand Iraq Oil Output

Wall Street Journal 07/19/2010

A Newly Assertive Turkey Dominates Trade With Iraq

Wall Street Journal 08/02/2012


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