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IRAQ INVESTEMENT FORUM
The Iraq Investment Forum is an important event and an opportunity that brings together senior businessmen, investors, and those responsible for the investment sector in more than one country, in addition to many economic organizations and unions. The Iraq Investment Forum is considered an effective platform for presenting the promising and distinguished opportunities in Iraq in various economic sectors. The forum will also contribute to It opens new horizons for investment in Iraq and strengthens the bonds of regional and international cooperation. It also discusses mechanisms and solutions to overcome many investment and development challenges in Iraq. It contributes to enhancing real interaction between multiple stakeholders to stimulate investment and find sustainable development paths in Iraq, and provides unique opportunities for insight. On investment prospects and policies related to it, the forum contributes to effective communication between businessmen and corporate investors from various countries of the world.
This forum is held under the auspices of the Office of the Prime Minister and organized by the Iraqi Economic Council in cooperation with the National Investment Commission. Various ministries and investment authorities in the governorates participate in presenting ready-made investment opportunities. The two-day forum will include basic topics and dialogue sessions to shed light on supportive measures and decisions that enhance the environment. Investment, promising projects, and the role that Iraq plays regionally and globally in the fields of energy, industry, agriculture, trade, and transportation, in a way that supports the strategic vision of the Iraqi government in the process of advancing the country through development projects. The forum will include a presentation on the Strategic Development Road Project and its development and economic objectives in accordance with regional and international cooperation. The forum will also witness the announcement of the second phase of new residential city projects, which will provide more than (150) thousand housing units in integrated residential cities in several Iraqi governorates, and more will be presented. From (100) investment opportunities in various fields.
Target Sectors
The energy and renewable energy sectors.
Heavy and medium industries sector.
Industrial cities and free zones sector.
Housing and real estate development sector.
Health and pharmaceutical industries sector.
The agricultural and livestock production sector.
Tourism and entertainment sector.
Transport and ports sector.
Food and manufacturing industries sector.
Smart economy and Artificial intelligence
Invest in Iraq
Iraq is a country with a rich history and culture, and it is also a country with great potential for investment. Iraq has a young, qualified workforce, and a great wealth of natural resources. The Iraqi government is committed to strengthening supportive measures to attract foreign investment, through important reforms that aim to reduce bureaucratic burdens on companies, simplify procedures for obtaining investment licenses, provide tax exemptions and other incentives to investors, and open the door to investment in infrastructure, public services, and a number of sectors. Including oil and gas, energy, infrastructure, manufacturing, agriculture, tourism and more.
The Iraqi government, committed to attracting foreign investment and turning it into a safe investment destination, has implemented many reforms, including:
1. Reducing bureaucratic burdens
2. Simplifying the procedures for granting investment licenses
3. Providing tax and fee exemptions for a period of (10) years from the date of the start of commercial operation of the investment project, and the exemption can reach 15 years if the Iraqi investor’s partnership percentage in the project is more than 50%.
4. Extracting the capital that the investor brought into Iraq and its returns in a convertible currency.
5. Formation of investment portfolios in stocks and bonds.
6. Trading in the Iraqi Stock Exchange in the stocks and bonds listed therein.
7. The investor has the right to employ non-Iraqi workers in the event that it is not possible to employ an Iraqi who possesses the necessary qualifications.
8. Non-Iraqi technical and administrative workers in the project may transfer their salaries and compensation outside Iraq in a convertible currency.
9. Iraq’s signing of the Singapore Agreement, which facilitates the implementation of settlement and mediation agreements and investment promotion.
Organizers
The Iraq Investment Forum is organized by the Iraqi Economic Council (IEC) in cooperation with the National Investment Commission (NIC) and the Pyramids Group. These organizations work together harmoniously to create a platform for dialogue and impact investing.
National Investment Authority (NIC)
The Authority was established in 2007 and began its work in 2008, to be the face of private investment in Iraq and work to promote, facilitate, and monitor investment in Iraq. The role of the National Investment Commission is not limited to organizing the administrative work of foreign investors. Still, rather the method of interaction and openness that the National Investment Commission follows with the private sector, in addition to its role as a link between international business, has allowed it to form the necessary vision to achieve a solid work policy and make the recommendations that It leads to improving the work environment in Iraq. In the long term, this will play a crucial role for the National Investment Commission and will likely build on recent successes in improving the business climate in Iraq. The National Investment Commission (NIC) has developed a unique vision about the country's investment needs. Through the governorate investment commissions established under the same law according to which the National Investment Commission was established, it is possible to support the needs and priorities of each governorate. The National Investment Commission also has comprehensive communication with entities at the local level, including the House of Representatives, ministries, and the Prime Minister’s Office. This helped the National Investment Commission to develop a clear vision for the requirements of the Iraqi people and economy, as it uses its position to promote investment that can address important requirements For the country, attracting private capital and modern technology, and employing them with business management experience, is considered essential at this stage. In addition to providing business support, logistical support, and introducing investors to the competent authorities to facilitate project procedures.
The Iraqi Economic Council (IEC)
An independent, non-governmental, and neutral Iraqi organization whose membership includes an elite group of Iraqi businesswomen, businessmen, investors, and companies investing from inside and outside Iraq that are implementing projects in Iraq, and its headquarters are located in the capital, Baghdad. It is concerned with developing and supporting the Iraqi economy. investment and reconstruction in particular. It aims to support and care for the private sector and investors by what was approved by the Iraqi Constitution and to participate in making proposals to issue or amend economy and investment laws The Council enjoys independence, moral personality, and financial and administrative independence. The Council works according to the principle of collective volunteer work to serve investment and reconstruction and to establish the values and principles of economic cooperation Between Iraq and all countries of the world supporting the ongoing economic transformations towards a market economy, it adopts the approach of getting to know each other and cooperating and concluding memorandums of understanding with governments, local, Arab and international organizations and private companies and encouraging them to establish investment projects and joint reconstruction inside Iraq and striving to provide the appropriate investment environment for the return of migrant capital to work and invest in Iraq.
Pyramids Group
Pyramids Group was established in 1993 and began its activity in Iraq in 2007 through its branches in Baghdad, Basra, and Erbil. The company is a founding member of the International Exhibitions Organization (UFI), holds the ISO 9001 certificate, and chairs the exhibition committees of the Arab Federation for International Exhibitions and Conferences, affiliated with the League of Arab States. The company operates in more than 10 countries, including Iraq, Egypt, Turkey, Morocco, Jordan, Russia, Algeria, Saudi Arabia, UAE, Netherlands, and Romania. It is the first company to organize oil, gas, building, and construction exhibitions in Iraq. It also built the Basra International Fairgrounds in Al-Maqal Port. It has extensive activity in Iraq and organizes an average of 100 exhibitions and conferences annually in various sectors in several countries.