Ten Reason to Invest in Iraq

From: Muhaned Saleh <muhaned.jobori_at_gmail.com>
Date: Tue, 17 Nov 2009 09:02:45 +0300

With an economy poised for resurgence, abundant numbers of educated and
talented people immediately available and an attractive pro-business fiscal
environment, Iraq has a lot to offer.

Invest in Iraq The Time is Now.

1. Superb strategic location gateway to the region.

Iraq has historically occupied a pivotal position in the Arabian Gulf and
Middle East region. It has strategically important ports and airports and
can prove to be a cost-effective trading and distribution location.

2. Numerous green and brownfield opportunities across multiple sectors.

There investment needs across all sectors of the Iraqi economy. The
Government of Iraq has identified over 750 investment opportunities
throughout Iraq in a variety of sectors. These include construction,
manufacturing industry, agriculture, tourism, housing, telecommunications
and healthcare. Most of these are immediately available and further details
can be obtained by contacting the National Investment Commission.

3. Unmet needs of a diverse domestic market.

Iraqs strategic position, availability of people and competitive cost base
make it an excellent location from which to export to the region and to the
world. However, given that the majority of goods sold now in Iraq are
imported, Iraqs domestic market of 30 million people offers an obvious
opportunity to produce and sell goods and service to provide import
substitution.

4. Increasing middle class creating demand for new products and services.

As Iraqs stability and security continues to improve, its displaced
professionals are slowly returning home and re-entering the workforce.
Iraqs expanding middle-class is proving to have the expendable income to
demand better products and services.

5. Educated, talented and available workforce.

The workforce in Iraq is well-educated. Over 11% are graduates or
post-graduates and 20% have higher-level academic or technical
qualifications. Iraq traditionally is strong in disciplines such as
engineering, medicine and agriculture and has also abundant numbers of
people with administrative and organizational skills.

Iraqs population of 30 million is one of the worlds youngest with 71%
under the 30 years of age and an astounding 83% under 40. Factors such as
the current unemployment rate of 15% and high levels of underemployment
clearly show the enormous capacity of the Iraqi workforce to provide a
strong people solution to investors needs.

6. Competitive wages and operating costs.

Iraqs cost base is one of the most competitive in the region and globally.
For example, an engineering professional is 89% cheaper than the UAE and a
skilled operative 92% cheaper than the UK. Whilst wages rates are
dramatically below those in the United States or Europe, this factor,
combined with Iraqs availability of graduates and professionals means an
overall excellent value for money investment proposition.

7. Strong investment incentives, tax exemptions and guarantees offered.

Iraq offers investors a period of ten years free from all taxes, including
corporation tax and fees. This period is extended to 15 years if the project
is a joint venture with a majority Iraqi stakeholder. Additional incentives
include the right to repatriate investment and profits from investment, the
right to employ foreign workers when needed and three years exemption from
import fees for required equipment. The Government of Iraq also guarantees
that investments will not be nationalized or confiscated.

8. Low corporate tax rates.

Even after the generous tax-free period has been completed, investors will
continue to benefit from Iraqs company tax rate of only 15% - one of the
most competitive in the region and globally. Both the tax free period and
the low ongoing rate help investors to become profitable more quickly and
encourages reinvestment.

9. Ample opportunity for local partnerships.

The Iraqi economy boasts a number of established companies,
state-owned-enterprises and service providers. As the country continues to
refine its investment environment and bring stability to its political,
security and economic activities, local partners serve as good option to
expedite and navigate the legal, regulatory and physical landscapes of Iraq.
Local partners have access to vital market knowledge; navigate regulatory
requirements; provide labor and other inputs at competitive rates; utilize
pre-established sales network; and maintain other necessary business
relationships, i.e. banking, legal, and distribution, which are critical to
the success of an operation.

While these companies maintain room for growth, many are poised to share in
both the investment risk and long-term benefits. These companies and service
providers span most sectors, industries and provinces throughout Iraq.

10. Abundant and untapped natural resources.

Iraq holds one of the principal hydrocarbon reserves in the world. With
proven reserves estimated at 115 billion barrels, Iraqs undiscovered oil
reserve is considered to have the second largest reserve in the world
possibly 300 billion barrels. Iraq also has reserves of gas of 3.2 trillion
cubic meters. Iraq is also rich in other minerals, including sulphur,
phosphate and iron.

For More details about the avialable opportunities to invest in, do not
hestate to contact us.

Best Regards

Engineer Muhaned Saleh

Investors Affairs

Salahaddin Investment Commission

mobile:- +9647703020449

Personal E-mail:- muhaned.jobori_at_gmail.com

Official E-mail:- muhaned.saleh_at_investsalahaddin.org

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Received on Tue Nov 17 2009 - 07:18:27 CET

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