$43bn Investment In Iraq In 2010

The 'Investment in Iraq' Summit recently concluded in Dubai and organized by Range Hospitality highlighted that Iraq has some of the most favorable foreign investment laws in the Middle East, making Iraq one of its most lucrative markets.

The summit witnessed keen participation from over 100 decision makers, entrepreneurs and investors representing diverse business backgrounds. Key speakers at the event included Ibrahim Al Baghdadi, elected Chairman of the Iraqi National Businessmen Council and Board Member of the National Investment Council of Iraq; Mohammed Al Assam, Chairman and Managing Director, Dewan Architects and Engineers; Mohammed Asaria, Vice Chairman, Range Hospitality; Kyle Stelma, Managing Director, Emerging Markets, Dunia Frontier Consultants; Khaled Saqqaf, Head of Jordan and Iraq offices, Al Tamimi & Company and William Wakeham, Founder and principle shareholder in AAIB Insurance Brokers.

Elaborating on the potential of the region, Kyle Stelma said: "In 2010, foreign firms and investors reported $42.668bn in investments, service contracts and other commercial activities across Iraq — an estimated 48.7% increase in total deal value over the previous year (2009)."

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