Security concerns and financial and administrative corruption keep German investors away from Iraq, German consular in Arbil city (Iraqi Kurdistan) said on Wednesday.
“Although security situation in Iraq is stable, the image associated with the country in German investors’ minds is about bombings and security violations,” the consular told Aswat al-Iraq news agency.
He noted that security concerns increase investment costs and minimize revenues.
“Financial and administrative corruption does not facilitate investments, and makes their present in Iraq difficult,” the consular explained.
He noted that German Government is planning to start a businessmen office in Basra province, southern Iraq.