With the end of the ISIS war, Iraq is on the path of reconstruction and economic resurrection that calls for sustained investment to the tune of over $900 billion within the next decade, said an industry expert.
“Iraq plans to focus on the oil & gas downstream value chain as well as minerals value chain, construction and infrastructure industries, healthcare, energy, tourism and financial services sectors to move the GDP growth rate by 10 per cent annually within the next decade,” added Ali Mirmohammad, senior consultant – Iraq with growth partnership company Frost & Sullivan.
Mirmohammad was commenting on a new report titled “Assessment of Industry Sector Opportunities in Iraq” from Frost & Sullivan.
The report provides a broad overview of the current status of these high priority sectors, apart from providing a brief peek into addressable opportunity areas.
According to the report, Iraq requires $30 billion of foreign direct investment (FDI) per year to achieve its reformation and stabilisation goals within the next 10 years.
With a population of over 38 million, Iraq remains an attractive consumer market with a potential of over $40 billion.
Bridged between Asia, Middle East and African economies and strategically placed at the mouth of Europe, Iraq possesses immense locational advantage as a nation with opportunities that stand to be untapped. The country benefits from immense natural wealth in the form of its huge reserves of natural resources. Having been brutally battered first by the Gulf war and more recently by the ISIS conflict, Iraq is just emerging from the destruction and strategizing the rebuilding of the country to position itself as a regional super power.
Even as the nation’s re-building opportunity proves to be humungous and unique, investors and businesses alike are in need of business intelligence in understanding the right mode of entry, the most rewarding business model and business opportunity. Iraq possesses one of the largest oil reserves in the world making it a highly attractive business opportunity. As the country also focuses on diversification initiatives, opportunities unfurl in sectors such as construction, infrastructure, healthcare, transportation, energy and telecom which are being positioned as high priority development sectors. – TradeArabia News Service
Iraq reconstruction market worth $900bn: study
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