Companies Seeking Investment Prospects in Basra

A number of companies participating in a Basra international fair revealed on Saturday their intention to seek investment opportunities in the province, the ‘economic capital of Iraq’, according to a source cited by AK News.

The 5-day Basra International Fair opened on Friday, with the participation of more than 150 local and foreign companies specialising in construction equipment, machinery, foodstuff and electrical appliances.

Director of Erbil Steel Company, Hevy Othman, said “this is our first participation in an exhibition in Basra, and this is important because Basra is one of the most important provinces in terms of economics, construction and investment.”

Ahmed Bilal, director of the Turkish electrical appliances company BEKO, said his company was seeking to increase its investment in the province through the exhibition.

BEKO is focusing on the central and southern parts of Iraq to develop its work, according to Bilal, who stressed that they were thinking of opening a branch in Najaf and later on in Ramadi as well, after they have covered Basra.

The director of Anjouan Company, Maha Abdullah, stressed the “full readiness” of Basra province to welcome the best companies, and the significance of its ports. Our goal is to provide the Iraqi market with high quality goods, she said.

AAIB View

A spokesperson from A.A.I.B. Insurance Brokers, a company specialising in Iraq said: The fact that a hundred and fifty local and foreign companies were represented at the Basra International Fair is a sign of a keen desire to penetrate the Iraqi market, for both consumer goods and industrial goods.

We are going to see many more trade exhibitions, fairs and conferences in the years ahead as the political landscape clears and the security environment improves further. A.A.I.B. Insurance Brokers has been working in Iraq for the last six years and we have seen many developments that make us very positive about the future of the country.

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