In a recent opinion piece in the Times, Lord Jeffrey Archer was enthusiastic about the opportunities to be grasped in modern Iraq:
- “Today [Baghdad] is a boom town, rather than a bomb site. If I were a young man, looking to make my fortune, I would be off to Iraq like a shot.“
- ” … there is an opportunity in Iraq that rivals the gold rush.“
- “If I were 30 and not 70, I would go and find out who wants what and see that they got it.“
He was particularly bullish about Iraqi Kurdistan, with which he has had a long association:
- “The city of Erbil looks like Dubai 15 or 20 years ago.“
- “Go east young man, go to Kurdistan. You could make your first million, and what’s more, you won’t be taxed at 50 per cent.“
And while Lord Archer’s relationship with the truth has sometimes been called into question, his arguments for Iraq are clearly supported by the evidence, as regular readers of Iraq Business News will be aware.
But it’s not always an easy place to do business, which is why it’s important to get the best advice and guidance.
The difficulties are not all on one side, however: President Barzani spelled out the problems that Iraqis have in getting entry visas to Britain, for example, a problem they do not face in France or Germany. Indeed, we have highlighted this issue in the past.
As ever, the rewards will be reaped by those who face the difficulties and take the risks.
Will your business be part of the Iraqi success story? If so, 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.