Iraqi investment expected to cross the $30 billion mark in 2011

alt text here

With political instability a thing of the past Iraq expects private investment to soar into the £30 billion bracket in 2011.

In 2010 private sector Iraq fund investments totalled around $10 billion, however since a new government is now in place, senior officials believe money coming in from worldwide investors will triple in amount.

The vice chairman of the Iraqi National Investment Commission, Salar Mohammed Ameen, said: “I expect 2011 and the coming years to be explosive in attracting investment in all sectors. Last year, the National Investment Commission, with commissions in the provinces, signed contracts worth more than $10 billion in all sectors, expect investments to not just double but to triple this year.”

It's thought that the sectors that are most likely to gain considerable foreign investment include energy, agriculture, telecommunications and housing and property.

Iraq is currently in great need of foreign investment. Following years on international conflict and the terrible, oppressive regime of Saddam Hussein, Iraq is now in a position to evolve and grow as a country, however it does not have the money to do this itself. Iraq estimates that $600 billion of foreign investment is needed to help the country rebuild and flourish. Despite a high level of risk a brave investor could potentially get a foot in the door before the real rush begins, and take a healthy reward on the way in.

If you are interested in investing into Iraqi funds, speak to a recommended foreign investment specialist today.