Launched in 2010, the Working Group on Investment Zones in Iraq helps the Iraqi government to develop investment zones, which can mitigate many of the risks foreign investors face when operating in Iraq and allow the Government of Iraq to set up a clear business, legal, and regulatory framework on a pilot basis. In turn, this will allow the Iraqi government to attract foreign investment and develop high-growth industries. Eventually, the Government of Iraq can expand the investment zone pilot structure outside its investment zones and truly begin to transform its economy and contribute to its sustainable development.
The Working Group:
- advises the Government of Iraq about the investment zone development plan, including the legal framework for investment zones; the role of existing zones; sector prioritisation; Investment Zones policy frameworks and incentives; Investment Zones management structures; and tax and customs duty issues that may affect investment zones.
- seeks to incorporate simpler forms of public-private partnerships, such as build-operate-transfer models, in investment zone financing.
- supports the creation of a dedicated investment zones unit within the National Investment Commission to take the lead on investment zone development and regulation, in particular the challenge of providing streamlined administrative services and a higher degree of investor protection.
The Working Group mobilises three Iraqi ministries through the National Investment Commission, as well as several international experts.
Developing, administering and managing investment zones require a multiple set of skills and expertise in the field of promotion and marketing, business development, procurement, project management and project monitoring. MENA-OECD provides these capacity building training sessions to drive the development of Iraq’s investment zones forward.
Special Training Session for Government of Iraq Officials
15-16 January 2013, Baghdad, Iraq
The special training session on investment zones (see agenda)was held to provide Iraqi government officials with the practical tools needed to develop and management investment zones. The training course was designed based on best-practice investment zone development and management strategies and from the concerns raised at previous Working Group meetings.
The topics covered included: strategic planning models; criteria for choosing an appropriate location; evaluating the economic impact and the legal aspects of the programme; organisational design, and planning, executing and overseeing the investment zone development programme.
The training session incorporated group exercises, allowing participants to examine theoretical issues about investment zone development and work on implementation of the theory to Iraq. The 15 participants, who hailed from the National Investment Commission, the Ministry of Industry and Minerals, the Ministry of Communication, the Ministry of Planning, the Ministry of Finance, the General Authority for Free Zones, attended the training, chose economic objectives for the proposed investment zones; then, from this economic rationale, they designed a model investment zone in Iraq.
MENA-OECD plans to host a future investment zone training session, which will delve deeper into investment zone development, helping to develop the Iraqi officials’ capacities to develop and manage investment zones and to spur investment zone development.
Enabling and Sustaining Private Foreign Investment in Iraq, 25-26 November 2010
Training workshop on Iraqi international investment framework, 6-8 July 2010
Training workshop for the Iraq National Investment Commission, 10-12 March 2010
Enabling and sustaining private foreign investment in Iraq, 6-8 July 2009
Investment promotion and media training workshop for the Iraqi National Investment Commission, 26-29 January 2009
Workshop on national investment reform in Iraq, 22-24 January 2008
Iraq project home page
WORKING GROUP MEETINGS
4th meeting, November 2012
3rd meeting, June 2012
2nd meeting, November 2011
1st meeting, March 2011
DOCUMENTS AND LINKS
Supporting Investment Policy and Governance Reforms in Iraq, OECD 2010
Policy Framework for Investment Toolkit
MENA-OECD Investment Programme
Principles for Private Sector Participation in Infrastructure
Paris Declaration on Aid Effectiveness and Accra Agenda for Action
For further information, contact
Anders Jonsson (firstname.lastname@example.org)