Iraq mulls ways to lure investors
Sami Salman, an economic analyst and a member at the Iraqi Economists
Association, has confirmed that Iraq will be a golden venue for
investment in the next few years especially in the electricity, water and
transportation sectors. However, he added that in order to achieve this,
Iraq needs to offer appropriate investment conditions, including adopting
new liberal laws by the next Iraqi government.
In an interview with Alkhaleej newspaper, Salman said that Iraq must
re-evaluate its current tax system in order to attract investors. He
proposed the alleviation of tax burden mainly on vital machines and
equipment and raw materials, decreasing taxes imposed on revenues and profits and establishing an advanced banking sector.
In his interview, Salman conveyed that the previous regime had ruined
the economy. However, he is optimistic about the future. He explained
that with the correct strategies to attract investors and increasing the
participation of the private sector, the Iraqi economy can prosper and
become one of the best economies in the region.