Foreign Investment: The Non-oil Revenue Source Iraq Needs to Ensure a Vibrant and Sustainable Economy . BY BASTA SIRWAN* Executive Summary: For Iraq, Foreign Direct Investment (FDI) could be the answer to fiscal improvements and increasing foreign currency reserve in the market. Global demand for oil export is expected to continue, thus exploiting high energy prices to m
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Iraq has struggled to attract FDI over the past two decades. Now, with a period of stability, can it turn a page and attract foreign investment? It is safe to say that Iraq has struggled to attract foreign direct investment (FDI) over the past 20 years. Two decades of conflict, which have included the 2003 US-led invasion, intra-sectarian strife and a war against Islamic
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The emphasis on investment as a basic and strategic component of a country's economic and social development should perhaps not be overdone. It is not, of course, the only component, for there are other strategic factors, such as entrepreneurial ability, the required skills and know-how, the efficient utilization of resources, political and social stability, and other elements
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In his recent article “Iraq’s Government Investments: Between Ambitions and Stumbling,” Dr. Mudhr Mohammed Salih, former Deputy Governor of the Iraqi Central Bank and financial adviser of the Iraqi Government, fairly described the political and administrative dynamics that prevent investment in infrastructure; basically showing how endemic corruption, institutional limitations,
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FOREWORD In 2007, the Government of Iraq requested OECD support to help identify and support policy reforms through research, policy dialogue, and capacity building. Since then, the OECD Iraq Project has assisted the Iraqi government in a wide range of economic policy initiatives in the areas of infrastructure finance, developing and implementing economic zones, and public pr
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