Jordan Times
Thursday, May 11, 2006
Conference shows
potential for business, investment in Iraq
The Iraqi market in general is in demand for many products such as
ceramics and stone
By Mahmoud Al Abed
AMMAN — Fallujah and the Kurdistan area came
under the spotlight at the 3rd Rebuild Iraq Conference as being safe zones for
investment.
Kamal Abdul Salam, president of the Fallujah Business Association, told
participants in the conference that his town, which witnessed the fierce battles
during the past three years, is now a secure city that is returning normalcy.
“Fallujah’s soil is ready for investment,” he said.
In this very town, he indicated, there are huge resources ripe for utilisation,
including 40,000 skilled and currently unemployed people.
Panelists also shed light on the investment potential of relatively safe
Kurdistan area noting that the Iraqi market in general is in demand for many
products such as ceramics and stone.
The two-day conference, organised by the American Chamber of Commerce (AmCham),
was held on the sidelines of the Rebuild Iraq 2006 Exhibition.
Senior Iraqi ministers and representatives of international firms and business
associations were key speakers at the “Doing Business in Iraq” conference which
was opened Tuesday by Industry and Trade Minister Sharif Zu’bi.
Andy Wylegala, commercial counsellor at the US embassy in Amman, highlighted the
importance of emerging new Iraqi companies.
He mentioned that Iraq’s growth was predicted to reach 10 per cent this year, a
forecast “which highlights the positive timing of entering Iraq now.”
AmCham Iraq President Terrance Bramble underlined the “extraordinary and
challenging environment in Iraq,” and encouraged businessmen to coordinate their
networking with the various Iraqi business communities through AmCham Jordan.
On Wednesday, a session dealt with “Reconstruction Finance in Iraq” and
presentations were made about Iraq’s security and economic situation as well as
the role of private companies and business organisations in the rebuilding of
the war-torn Iraq.
According to a statement by AmCham, the Rebuild Iraq Exhibition, which will wrap
up today, is expected to have attracted 20,000 visitors. The exhibition
attracted 1,024 companies from 48 countries, including 38 national pavilions.