After 2003 Iraqi markets has changed & increased, I can tell there is a great skip between now & before 2003, When Iraq was under
Saddam's regime,we had few numbers of markets; goods & food were expensive, many people were living with limited income, & imagine how much was the salary for employee? 3000
Iraqi Dinar, (on Saddam's regime, when 1 Kilo of meat was 1800 Iraqi Dinar)!!! very little for a family who has one income coming from father or husband, I remember very well, we had a flour with pieces of wood in it, Iraq has lots of money from oil while the people were hungry.
We were living "from hand to mouth", we couldn't buy fruits, or milk, or new clothes; only the rich people & Saddam's followers were living well, many people forced to buy secondhand clothes which they were used from other countries & been send to Iraq( till now we have many people getting these kind of clothes), we were tailored our clothes, which was a blessing at that time!
But after 2003, I can tell many families get a better salary, & women involved in job's field supporting her family too, markets spread, Iraqi markets has revived after a bad & hard time for most Iraqis during 1991 - 2003, internet & cell phones has reached to people & many goods has entered markets, but it's missing for good quality, some are fake goods, cheap one.
I was in markets before 2 couple days ago, & I noticed how markets filled with people & I immediately went backwards with my thoughts before 2003, when our "hearts set on" things at markets as we say, but we couldn't buy them & we should not forget that Iraq's market is opened after 2003; for many countries, & starting to deal a traded bargain for investment in Iraq, this is another good step but that will not happen unless Iraq is submitted securty so can foreign companies to invested here.
We have recieved a fill report about
Iraq Through Investors’ Eyes, from one of our readers, we are thankful to her.
Perspectives on risks and rewards.
Here are some parts of the report:-
{ Investment in Iraq has been a topic that has polarised opinion over the last seven years. Discussion ranges from dramatic exhortations of the lucrative opportunities available—in a country endowed with sizeable oil, water and human resources—and expressions of extreme caution because of the security and political risks that muddy the business environment.
Iraq Through Investors’ Eyes is an
Economist Intelligence Unit report that takes the debate deeper.
It lays out in detail the more nuanced views of investors that are already operating in Iraq and dealing with the realities of doing business on the ground, as well as the perceptions of others that are either weighing their options or have decided not to invest for the time being. The findings and views expressed in this report are the responsibility of the Economist Intelligence Unit, which conducted this research independently. Ali al-Saffar and Justin Alexander were the authors of the report, and Jane Kinninmont was the editor.
This is a background paper for Economist Conferences’ Iraq Business and Investment Summit, September 29th 2010, an event sponsored by the
Trade Bank of Iraq,
Gulf Air and Danagas.
September 2010}
{ Investor opinion about Iraq is divided…: Although 49% of respondents judge that “the ongoing
violence means doing business in Iraq will remain too risky for some time”, one-third see Iraq as “a
country with significant opportunities for those who are willing to accept risks in the short term” and
28% as “a fledgling democracy with a long-term political and economic future.”
l …but improving: Just over half – 51% - said their perceptions of Iraq as a place to do business had improved in the past two years, compared with 12% who said it had got worse }.
{ Violence, corruption and poor infrastructure are the main business risks: The top three risks are
violence, (69%), corruption (45%) and shortages of infrastructure (38%). The next three are credit
risk, bureaucracy, and a lack of contract protection }.
{ “Iraq is a difficult place to do no business. It’s important to keep in mind that it’s undergoing three simultaneous transitions: from conflict to postconflict; from a centralised economy to a free market; and from the strictest sanctions ever imposed to free trade.”
Zaab Sethna, Northern Gulf,Partners.}
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