Transcript Slide 1
Population: 30 million Land area: 434,128 Km 2 • • Two rivers: Tigris River, 1,850 km long, originating from Turkey The Euphrates, 2,350 km, also springs from Turkey Major resources : oil, natural gas, sulphur, phosphate, iron, kaoline, bauxite, limestone, gravel and sand.
Economic activity resume with normal life Security is improved –incidents down to 10% Financial guarantees of investment established Iraq is open for business & foreign investment Foreign businessmen travel safely all over Iraq Iraq’ great wealth & resources is better utilised Plans to rebuild the entire infrastructures Economy size: $500-700 billion in 10 years Government expenditure $30-40 billion per year
Oil production Gas production Electricity Communication Agriculture Water & Sewage
Transportation Construction Housing Tourism Health Education
Extraction of natural resources, Development of archeological sites.
Telecommunications.
Mineral, petrochemical,medical industries Engineering and vehicle manufacturing Roads, seaports, airports and railways Power projects more than 30 megawatts Dams, reservoirs, and irrigation projects
Modernization of Iraq top five cities
Port facilities
shopping Malls Industrial parks
New universities Sports stadiums
Municipal buildings Modern office buildings Convention centers
Cultural & recreation facilities Two million housing units in 5-10 years
2012 budget estimated at $100 billion
2010-2014 plan to spend $186 on infrastructure
GDP is on sustained growth of 7%
The Paris Club written off 80% of Iraq's debt
Iraq is currently negotiating membership of The World Trade Organization (WTO)
Iraq has observer status in WTO since 2004
Per Capita Income $4,360 USD
GDP growth 7%
Consumer Price Inflation 5%
Average Oil Production 3.0 M bpd
Average Oil Exports 2.3 M bpd
Proven Oil Reserves 115B Barrels
Proven Natural Gas Reserves 3.2T m 3
Key Agricultural products: Wheat, Barley, Rice, Vegetables, Dates, Cotton
Byblos Bank (Lebanon) – private banking in Kurdistan Lafarge Cements (France) – two cement plants capacity of 5M tons per year. 2000 employees
Merchant Bridge (Lux) – banking and telecom industry. Founded the Mansour Bank Mesopotamia Oil and Gas (UK) –joint venture with the Iraq Drilling Company Orascom (Egypt) – construction and telecom industry. Cement production, construction, and mobile telephony.
Zain (Kuwait) – Largest telecom mobile carrier
Receive 10 years exemption from taxes.
Repatriate capital and profits
Employ foreign workers when needed.
Three years exemption from import fees
Guarantee not to nationalize or confiscate
flat tax of 15% on all income earned
Service of 7 state-owned and 7 private licensed banks
“I was truly delighted that millions of Iraqi people exercised their right to vote in an environment free of violence, a remarkable achievement in a country that has known so much conflict in recent years. Iraq has come a long way in taking their own affairs in hand, this being the first Iraqi-led and Iraqi owned electoral process. It is a tribute to the growing effectiveness of the Iraqi Security Forces, and testifies to the increasing stability in the country.”
UN Secretary General Ban Ki-Moon