Third meeting of the Working Group on Investment Zones in Iraq
Beirut, 20-21 June 2012
Participants in the third meeting of the Working Group on Investment Zones in Iraq agreed that a concerted, government-led push is necessary to make investment zones successful and should include substantial financing, high-level political support, and step-by-step involvement of the private sector, both as zone developers and operators, and as zone residents. The final declaration called for the MENA-OECD Investment Programme to conduct training workshops for Iraq government officials on topics related to the management and development of investment zones, including financing, administration, and engaging catalyst investors, and on topics related to investment protection.
An investment protection assessment undertaken by the MENA-OECD Investment Programme on the proposed network of investment zones in Iraq received feedback at the meeting, and will be finalized shortly. The assessment is intended to highlight regulatory and institutional reforms that would increase the general level of investment protection in Iraq and make investment zones more attractive to potential private developers and users. Terms of reference (TOR) for an international feasibility study on the Hatein investment zone (Babil province) were circulated at the meeting, and TOR on the Baghdad International Airport investment zone are planned.
Participants in the meeting included top officials of the Iraqi National Investment Commission (NIC) and its Chairman, Dr. Sami Al-Araji, the Chairman of the Babil Provincial Investment Commission, representatives of the Iraqi ministries of planning, communication, industry and minerals, and finance (General Commission for Free Zones), the Office of the Iraqi Deputy Prime Minister for Infrastructure and the Office of the Iraqi Deputy Prime Minister for Economic Affairs, the OECD, the World Bank, the Investment Development Authority of Lebanon (IDAL), lawyers, project finance consultants, and Shannon Development (Ireland).
Agenda English Arabic