Bureaucracy, clashing rules hinder Iraq investment

Investment in Iraq remains hindered by conflicting regulations and a labyrinthine bureaucracy, officials said on Sunday, as the country awaits a wave of foreign cash needed to help it rebuild.

“Frankly speaking, the value of the investment in Iraq is not that big,” Thamir Ghadhban, head of Iraq’s national investment committee, told Reuters.

“Some provinces have managed to award investment licenses worth billions of dollars … But what is important here is not only granting licenses, but for investors to actually start executing projects,” he said at an investment conference in Baghdad.
Reuters