Iraq’s Current Economic Situation and Chances of Currency Revaluation

Iraq’s Current Economic Situation and Chances of Currency Revaluation

Iraqi Dinar NewsIraq has seen hard time for several decades. But, after 2004, the condition appears to be getting strong. Iraq is starting many new projects to earn revenue. It is trying to increase oil trade mostly because oil is its huge asset Iraq is proud of. Apart from oil, Iraq is moving swiftly towards progress in many industries like agriculture, steel production, canned food, property development, chemicals, trading and manpower solutions.

At first, in 2002 and 2003, Iraq invited many worldwide renowned companies to come to Iraq and invest in their business and work together for success. Several companies showed interest and many are still working in Iraq. At first, the manpower was also called from foreign source. The companies who started their projects in Iraq invited professionals and labor from their own countries.

The business investment got better in Iraq when the condition of security got better. Several countries showed interest in investment in Iraq as future economy. It is also truth that experts have predicted that Iraqi economy can boost at any time. They also say, Iraqi Dinar is going to revalue soon. However, nobody knows the date or time, but, in expert opinion, the time is near.

The new government, after Saddam’s reign in Iraq, made new rules and regulations for the company. They also provided boost to economy. As a result, in 2003 or 2004, Iraqi Dinar was once again circulated widely in international economy. In 2011 and 20012, the exchange rate of Iraqi dinar remained 1160 for one dollar. This is average value. The value changes every day so, for specific date, you have to consult true statistics.

The oil reserves are actually fascinating thing for every investor. They say if the condition of security is fine in Iraq, they are ready to work there. Some are already working there. The reason is high level of profit. About 10 years ago, Iraqi government invited many investors to Iraq for exploring new reserves of oil. The intention of Iraqi government was to boost the oil production and ultimately per annum revenue made from oil. America was also included in those countries who went to Iraq for oil exploration. China was also invited. Both nations have worked in those times for Iraq.

The overall condition of business in Iraq is not absolutely stable, however, it is also not scary. People feel interested in making investment there because of high profit. They also have to follow Iraqi laws to do business there. These things include paying tax on time, entry and exit permission from government, and vehicle registration, etc. They are not just free to start business without any law. All these and many other laws are imposed on them to work in Iraq.

Seeing all these present conditions of Iraqi business investment, many individuals and companies have also started investing in Iraqi Dinar trade. They think this trade has so much potential. Iraq is making progress fast, which means its currency will also strengthen soon. Once Iraqi Dinar Revaluation happens, those investors will get their reward back in the form of several thousand dollars.

Iraq has much potential for foreign investors. That investment can be in many forms. That can be in any industry in Iraq or particularly in its currency. Iraqi Dinar investment is also a golden chance every other person is talking about these days. A lot of other business development companies are working in Iraq. They need investors, manpower and other resources to run their businesses.

There are many investment agencies in Iraq that settle down the investment of several businessmen from all over the world. They put their money in running industries of Iraq. They also guide investors about how to make investment in Iraq. They tell which sectors are beneficial. They also tell you several tips to survive in Iraqi market.

Iraq is a fortunate country with huge manpower. They are also blessed with third biggest oils reserves of the world. The GDP is also growing faster than ever. Experts predict the GDP is going to boost in coming time very soon. It will get ready to compete the entire Middle East.

Saddam Husain did not like any foreign investment. At that time, Iraq encouraged the people of Iraq to take part in business development. But, after the war, condition of manpower was also very weak. They needed more capital for starting new industries and they also required manpower to work in their country. The new prime minister after Saddam started inviting different countries to invest in the country to generate revenue.

This news is very appealing for the investors from all over the world. They are coming in the country from investment point of view. Iraq itself invited several countries to come and invest in Iraq’s economy. For example, it invited crew from America and China to explore hidden oil reserves. Iraq knows it that it is a big power in oil sector. More oil is hidden yet under Iraqi soil than what has been already explored.

If somebody is interested in investing in Iraqi market, he has to pay the taxes applied by government. For foreign investors, tax law of Iraq is not an easy thing to learn. This is not only true for foreign investors but local Iraqi investors also pay taxes on the money they make within that country.

The condition of Iraqi business development is substantial in the country as it is able to generate more opportunities. There is one big reason why countries and people think of investing in Iraq. This all is because of security condition of Iraq. Prior to 2009, the government offices and residential hotels were victim of bombing. But, after that, the condition is now quite satisfactory.

Iraqi dinar investment is another sort of investment in the world that has attracted many investors from all over the world. One reason can be its current value. Second reason can be that you don’t have to pay any tax for purchasing Iraqi dinar. Current value of Iraqi dinar predicts the economy of Iraq in near future. At present, you can buy more than one thousand Iraqi dinars in just one US Dollar. Once the economy gets stable, the price of this currency will also boost. As a result, investors will earn handsome profit on their purchase.

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