Helping Your Countrymen Succeed in Iraq

US Secretary of State, Hillary Rodham Clinton, didn’t mince her words:

According to the IMF, Iraq is projected to grow faster than China in the next two years. Now, let me repeat that, because when I read it I said, okay, are you sure because we always think of China as being the juggernaut? But no, indeed, Iraq is projected to grow faster than China … Iraq has one of the largest customer bases in the entire Arab world. It has one of the world’s largest supplies of oil, and it has one of the best educated workforces in the region.

While not shying away from the fact that Iraq “remains a tough environment“, the Secretary went on to urge businesses in Iraq to hire more women, and to encourage American firms to enter the country.

Iraq’s future clearly depends on the expertise and capital that foreign companies can bring, and there is plenty of business there for all nationalities.

With that in mind, Iraq Business News is launching an important new communication facility for government departments, NGOs, trade associations and training organizations. This country-specific service is calledYour Country’ – please click here to find out more.

And remember that wherever your business is based, Upper Quartile and AAIB are here to help you. For more information please contact Gavin Jones or Adrian Shaw.

 

 

One Response to Helping Your Countrymen Succeed in Iraq

  1. Peter Van Buren June 16, 2011 at 6:18 am #

    Hillary was a bit fast and loose with her facts.

    Percentages are fine, but in real dollars China’s growth is huge, Iraq’s much more modest. China’s is based on a much clearer record of growth, and more established economics.

    More importantly, most of the IMF’s positive prediction for growth in Iraq is based on oil revenues, that 12.5% growth versus 5% for non-oil growth. It is unclear (reader help invited) how much of the oil growth is based on the rising price of oil versus the rising production rate of oil in Iraq. Crude oil futures prices are up over 26% for the year, while Iraq’s oil output is relatively flat. In other words, a lot of the oil growth may be based on prices rising, something wholly outside of Iraq’s control and obviously a very volatile factor. China’s growth projections are based on a much broader range of industries (albeit also subject to their own, less swinging, volatilities).

    More at http://wemeantwell.com/blog/2011/06/06/gdp-growth-rates-iraq-versus-china/