IRAQ INVESTEMENT FORUM
The Iraq Investment Forum is an important event and a strategic platform for showcasing promising opportunities, bringing together leading business figures, investors, and officials responsible for the investment sector from more than one country, alongside the participation of numerous economic organizations and unions. The forum serves as an active platform to present outstanding and promising opportunities across various economic sectors in Iraq.
The forum contributes to opening new horizons for investment, strengthening regional and international cooperation, and promoting interaction among different stakeholders. It also discusses mechanisms and solutions to overcome the challenges facing the investment and development environment, thus enhancing opportunities for sustainable development in the country.
The forum provides a unique opportunity to explore the available investment policies and opportunities, and it fosters networking among businessmen, investors, and companies from around the world.
Forum Organization and Sponsorship
The forum is held under the patronage of the Office of the Prime Minister of Iraq and organized by the Iraqi Economic Council in cooperation with the National Investment Commission, with the participation of various ministries and provincial investment commissions, where ready-to-launch investment opportunities will be presented.
Over two days of activities, the forum will feature dialogue sessions and key topics covering:
1. Policies and measures supporting investment.
2. Promising development projects.
3. Iraq’s regional and global role in the fields of energy, industry, agriculture, trade, and transportation.
The forum will also include a presentation on the Strategic Development Road Project and the announcement of the second phase of new residential city projects, aiming to provide more than 150,000 housing units across several provinces, along with the offering of more than one hundred investment opportunities across various sectors.
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 rich in history and culture, offering vast and diverse investment potentials, an abundant young and qualified workforce, and immense natural resources. The Iraqi government is working on several fronts to improve the investment environment by:
1. Implementing reforms to reduce bureaucracy.
2. Simplifying the procedures for granting investment licenses.
3. Offering tax exemptions and attractive incentives.
4. Opening the door for investment in infrastructure, public services, and sectors such as oil, gas, energy, and manufacturing.
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.
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