Despite news of increasing security problems, Iraq has attracted as much new investment (in terms of deals announced) in the first half of this year as it did in all of 2010.
And the raw figures are impressive; according to Dunia Frontier Consultants, $42 billion was attracted to Iraq last year, with $45 billion announced so far this year.
As Gulf Keystone's John Gerstenlauer said last week:
“Everybody loves to go elephant hunting. Why go after small game when you can shoot something big?”
Hunting big game was never easy, of course, and so it is with business in Iraq. Being ranked 166th out of 183 countries in the World Bank's “Doing Business 2011” survey tells its own story.
But that's the nature of investment in challenging environments - you do get extra points for difficulty. In the last seven months, the stewards of $45 billion said it was worth the effort, and you can be sure that more deals will follow.
Will your business be part of that new economy?