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Iraq has changed. As normal life begins to resume, economic activity has revived. Demand for all types of goods and services is growing fast. The focus is on reconstruction as the government rebuilds essential infrastructure, from power and water utilities and transport infrastructure to residential housing. At the same time, the government is investing in the essential economic infrastructure; including oil fields and the mid- and downstream pipeline, petrochemical, and fuel distribution sectors.
Iraq presents a huge commercial opportunity across a broad range of sectors. After five years when security was the dominant issue in Iraq, the country has now entered a new, positive phase. As the Iraqi government and security forces have stepped up their capacity, the environment for trade and investment has transformed for the better.
The Iraqi people are now able to benefit collectively from the country’s great wealth and resources. The important challenges still facing the country also represent opportunities for partners who are prepared to come in and commit to commercial and investment relationships. Challenges include:
- Rebuilding the economy to improve the livelihood of the population
- Reconstructing roads, houses, and other infrastructure
- Re-establishing water and power supplies
- Developing oil and gas fields, export pipeline infrastructure, and downstream industries
The difference now is that for the first time the security and stability exists to make these fundamental long term goals achievable.
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