Iraq Development Company of Canada -

Iraq: Basra is less dangerous than Manchester, British general says
Basra is now less dangerous than Manchester, the general commanding British troops in Iraq has said.
..............................more news

The time is now as there are so many great projects going on in Iraq with the potential of a prosperous future. Ask Richard Duffy, he has been there five times and is planning to live there.

Exemptions
Tax and Fee Exemption for 10 years, subject to extension by the Council of Ministers (by law enactment)
Exemption from import duties for equipment, spare parts, rehabilitation
-Transfer of ownership of exempted project subject to NIC approval to continue to enjoy benefits

Practical Concerns
Capital is international
-Flows where returns are highest, taking into account the relative risks
-Slow implementation of GOI Investment Law has hindered investment in safer regions
-Some legal uncertainties arising from conflicts of the GOI and the KRG investment laws

Foreign investor land ownership vs. long-term lease

Serious international concerns about commitment to rule of law the future of foreign investment:
-Based on success to date, bright for the Kurdish Region
-For other regions of Iraq: still waiting for a history upon which one can make some prediction of the future

FOR ADDITIONAL INFORMATION CONTACT:
Richard Duffy
rfduffy@idcc.ca