ISSN: 1813-0410

Author : A.D.Zaki Binayan, Hussam

The economic & investment statusInIraq and Basra city

Hussam A.D.Zaki Binayan

journal of kerbala university, Volume 7, Issue 2, Pages 1-9

Iraq tries heavily to get rid of the problems of the last economic regime ,which had a great effects on the economics route ,such as unemployment ,debts and destruction in every systems and industries .The wars deepen that destruction especially the last war that change the system. Iraq tries to bring up economic reforms and going toward the economic market and encourage the private sector . Of course that could be done by improving the basis or the infrastructure of its economy .That will need capitals and money to construct and reform the economy .Therefore ,it started with legislation of code of investment No.13 ,2006 and then made some amendment for that code in order to make it suitable with real life and attracts foreign investment .Also there was a try to spread the security and politics stability and try to put an end to smuggling and financial and managerial corruption .Therefore ,Iraq developed its security forces and concentrates to develop the economic sectors especially oil production ,industry , and agriculture showing the suitable opportunities in those sectors.
All this to show the positive image for Iraq .Therefore there are investment commission established in every city of Iraq to carry out the investment affairs and show the suitable opportunities to invest .In field of labor force and human resources ,work is still going on to find jobs to people to get rid of unemployment .Therefore in the last budget of 2010 , more than thousands of jobs are devoted .Besides ,there are many centers for training people .All these a trying to improve the infrastructure of the country in order to attract the investment either they are local or foreign .I think that if Iraq could get rid of corruption ,make laws easy (one window) and spread security stability .That of course will lead to make investment possible and with natural resources that will make success of economy .