$100 Billion Invested in Baghdad

The value of investment projects in the Iraqi capital has reached $100 billion [120 trillion Iraqi dinars], the Baghdad Mayoralty said on Tuesday.

“The investments are in the housing, hotels, malls, theme parks, and resorts sectors,” the mayoralty said in a press release received by Aswat al-Iraq news agency.

It noted that the Baghdad Mayoralty needs political and executive support to attract more foreign and local investment to the capital.

(Source: Aswat al-Iraq)

(Photo Credit: James Gordon)

AAIB View:

A spokesperson from A.A.I.B. Insurance Brokers said: The Iraqi government has worked hard to encourage foreign investment into the country, especially in Baghdad. Many types of infrastructure need to be redeveloped and new projects and initiatives are needed in all sectors. There are clearly issues and challenges to be dealt with but the opportunities are there and as ever, the degree of political stability and the security climate will be key factors guiding foreign investment decisions.

The recent announcement of a planned $250 million investment to build a business village near Baghdad international airport is a further example of business optimism and hopes to strengthen commercial services in Baghdad.

As regards these investments in housing, hotels, malls, theme parks etc., all can be protected by insurance, both during the construction phase and once the projects are completed and operational. We have seen a number of instances where property in different parts of Iraq has been destroyed or damaged from various causes and as a matter of sound management, insurance programmes should always been considered.

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