Foreign Direct Investment – Iraq Needs to Take Lead

Iraq NewsAccording to the CEBR (London’s Centre for Economics and Business Research), the Gulf Cooperation Council (GCC) and World bank’s report the foreign direct investment in Iran, Iraq, Lebanon, Egypt and Jordan is increasing with the every passing day. Iraq is taking lead in foreign direct investment against all other Middle East countries. Therefore the growth rate of Iraq economy is also better than other countries, according to recent economic report of IMF and World Bank.

The recent economic growth of Iraq is 6.5% that is expected 8.6% by the end of 2016. Interesting and encouraging fact about Iraq is that it is struggling under unreliable political and law and order environment. Moving towards development with these ground realities is not always easy. The investment in non oil sector of Iraq is also appreciable. The non oil sector of Iraq hosted more than $22 billion dollar investment in the non oil sector of Iraq which is the biggest investment ever made by any of the foreign country as direct foreign investment.  Furthermore, Iraq brought positive changes in the foreign investment rules so that country would have maximum direct investment in the country. Prior to this there were so many legal obstacles for a foreign investor to invest in the country.

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