Iraq Scores Poorly on “Best Countries for Business” Index

By John Lee.

Iraq has been ranked in 130th place in the Forbes Best Countries for Business index, out of the 161 countries measured.

The index gauges the Best Countries for Business by rating nations on 15 different factors, including property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape and investor protection. Other metrics included were workforce, infrastructure, market size, quality of life and risk.

The top three positions were taken by the United Kingdom, Sweden and Hong Kong, while the Central African Republic, the Republic of Congo and Guinea-Bissau were at the bottom of the list. Libya was ranked in 152nd place.

According to the report:

“Overregulation has made it difficult for Iraqi citizens and foreign investors to start new businesses. Corruption and lack of economic reforms – such as restructuring banks and developing the private sector – have inhibited the growth of the private sector.”

More on Iraq’s ranking here.

(Source: Forbes)

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4 Responses to Iraq Scores Poorly on “Best Countries for Business” Index

  1. Ibn Al Iraq 23rd December 2018 at 06:57 #

    Sir,

    its so ironic that GOI yet done so little to improve regulations and advance further in line with the rest of the world, starting from entry visas, company registration, social security, taxation, protection of investors, traffic authority and more!

    Top countries along with their ambassadors in Baghdad are calling for rapid reforms, removing red tapes, adopting paperless procedures, consistency in applying procedures, bringing in reputable consultants to develop procedures,

    more than 15 years passed and GOI are so behind and only clever to talk with big slogans !!

    Iraqis need actions today, Investors expect proper & clear regulations

  2. Ibn Al Iraq 23rd December 2018 at 07:56 #

    On average there are at least two conferences held in Baghdad per month in additions to London, Dubai, Istanbul and Amman furthermore all Iraqi officials, director generals, senior managers and officers are regularly attending training courses abroad but what are the impacts on Iraq ??? has anyone passed

    We call for changes, actions NOW !!

  3. Paul 2nd January 2019 at 16:49 #

    Why is Iraq the only nation in the world that can trade in oil internationally for dollars and yet have a currency value of less than a cent! While making hundreds of billions of dollars a year from oil sales! Iraq should be in the same financial position as Kuwait! Yes, too much dinar was put into circulation after Sadam but if the CBI has not reduced that through systematic reduction over the last fifteen years something is fundamentally wrong! I agree with you Ibn Al Iraq changes are long overdue!

  4. Ibn Al Iraq 6th January 2019 at 09:42 #

    Its pretty obvious that most of GoI are in position just to look after their own pocket, have no experience and to destroy the country with the support of outsiders either intentionally or by sheer negligence!!

    Why our natural resources are the cause of our misery!!

    We lack patriotic Iraqis in power who have been pushed far away or killed!

    Its vary sad to see Iraq ( a seven thousand years old nation) at this level and it hearts too much!!

    we need unity and professional honest people at top level!

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