Foreign Investment and Iraqi Basic Economy and Future Progress

Abstract

The Iraq economy is classified within the economics that depend for National Income on extractive industry and on other resources . This merit , if invested in more reasonably way within development projects , could realize balanced growth rates for its sectors . But these up normal circumstances and non-objective economic policies made Iraq in more difficult and complicated circumstances and problems that resulted low production and common socioeconomic phenomenon such as unemployment , inflation and consequently the indebtedness and compensation that burdened the Iraqi economy and increased the deterioration in the standards of living of the citizen . There were no way just to adopt the reform policy and redevelop the economic state and private sectors through benefiting from the potentialities and economic and human resources with the collaboration of the foreign investments granted by other countries and international financial foundations taking into consideration the experience of the developing in this aspect . Thus , Iraq tendency towards the collaboration of foreign investments was supported by issuing Investment Law No.(13) 2006 which require preparing an investment circumstances that urge this foreign investment to contribute in financing and establishing productive and service projects in Iraq along with realizing security situation and providing the prerequisites for these investments that could utilize more suitable opportunities and activities which could not be found in other countries . This aspect should encourage the Iraqi government and the civil society organizations to make more pressure on Security Council to review the sums imposed on Iraq to repay compensations and in debts which are considered as one of the obstacles affection the economic and developing reform process for Iraq future