Would you invest in Iraq ? Many people think it is crazy to even ask the question. But strange as it may seem, there may already be some good investment opportunities in Iraq , and chances are there will be many high-yielding investments in the country in the next few years.


Iraq in many ways resembles the former Yugoslavia of 15 years ago. Ethnic and religious warfare was endemic, and the pessimists said peaceful, free market democracy could never take hold - yet it has, and many people are prospering as never before.



An Iraqi woman places a call to a broker on the other side of a glass screen at the Baghdad Stock Exchange


Yugoslavia did break into pieces, but it did not have the glue of oil revenues. Iraq can probably evolve into a federal republic with people moving to provinces that best meet their particular religious preferences. History is replete with examples of seemingly endless civil war and religious strife that ended through victory of one side or, more often, sheer exhaustion of the participants. Thirty years ago, who would have predicted that Vietnam would have a booming, partially free, market economy today?







Baghdad Media City project broke ground north of the city recently: a $128-million, 80,000-square-metre development on land leased from the government due to be ready for companies to move in as early as the end of 2011.

Iraq suffers many of the same economic ills that plagued the Central and Eastern European countries two decades ago when communism collapsed. Saddam Hussein had nationalized most of the large businesses, and these socialist enterprises are no more efficient than their Eastern European counterparts were.

Increasing numbers of Iraqis understand their future prosperity lies in developing a vibrant market economy, and they also understand the conditions for such an economy include the rule of law, protection of private property, abolition of price controls, stabilization of money, low tax rates and basing regulations on sound cost-benefit analysis.





                     
An Iraqi shows how to use a credit card as banks have started issuing cards in Baghdad, installing cash point machines in selected places in the capital in a move to encourage Iraqis to accept the cards and surmount their repugnance to anything but cash.
           






Baghdad Invest : Building of (1824) housing units in Baghdad.









14 Ramadan Street, brand new shopping mall name Al-Jashamy Mall is complete and ready to go in Baghdad.


 
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