Extremes of Risk and Reward in Iraq

The extremes of risk and reward in Iraq were very much in evidence over the past week.

On the negative side:

  • Ayad Allawi, in his attempts to bolster his bid for the top job, has reportedly reneged on his commitment to honour oil and gas contracts signed by they current administration;
  • The government has admitted that it no longer has the authority to sign major contracts such as the deal to buy F-16 fighters; and,
  • While the politicians continue to test the patience of the people, Iraq languishes fourth from the bottom of Transparency International's Corruption Perceptions Index.

But balancing this gloom:

So the opportunities are there, as Iraq is gifted with an abundance of exactly what the rest of the world needs – oil and gas – but the lack of political will is continuing to hold the country back.

As a director of Abu Dhabi's Invest AD put it, Iraq is “a country that cannot be allowed not to succeed”.

Will your business be a pioneer of the Iraqi success story? If so, Upper Quartile and AAIB can help you. For more information please contact Gavin Jones or Adrian Shaw.

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