The ExxonMobil controversy has dominated the business headlines in Iraq over the past week, and while it is very significant and politically sensitive situation, we should not allow it to distract us from the big picture — the accelerating progress in development of the country.
Three quotes from this week’s ‘Iraq: Untapped Opportunities‘ conference in London, and from the newly-launched ‘The New Iraq: 2012 Discovering Business‘ guide, perhaps sum up the situation best:
Dr. Sami Al-Araji, Chairman of the National Investment Commission:
“Our Five Year National Development Plan for 2010-2014 targets economic growth of 9.4% per year, with projects worth up to US$186 billion … the sky really is the limit for investors.“
Philip Kennedy, Managing Director of Eschmann:
“If anyone is reluctant to enter the Iraqi market, for us it has been a wonderful transformation and I’d encourage companies to take up the challenge.“
Robin Ord-Smith, UK Trade and Investment’s (UKTI) Iraq Director:
“There are excellent, excellent opportunities … but the window is closing.“
Can we be any clearer about it?
If you’re considering taking that step into the Iraqi market, Upper Quartile and AAIB are the perfect team to help you manage the risks and grasp the opportunities. For more information please contact Gavin Jones or Adrian Shaw.