Thank you for your interest in Iraq and welcome to the website of the Iraqi National Investment Commission.

I am privileged to be serving as the Chairman of INIC at this turning point in Iraq’s history.

For some time now, most of Iraq has been free from sectarian violence and insurgency. The number of areas where this is so is increasing further. Now, investors are able to judge the viability of an investment project in any part of Iraq solely on the basis of economic factors. I am convinced that the advantages of doing business in a large, affluent economy that is again becoming a part of global markets will be recognized, and that investors’ judgment will be favorable.

Our economy has been gaining in strength. Iraq had escaped the turmoil that followed the recent crises in financial markets. Inflation has been overcome and the currency is stable. In 2008, real GDP growth was 10.7% and non-oil real GDP grew by 5.5%. As of February 2009, inflation had dropped to 6.8%. GDP for 2009 is forecast to grow by 7.5%.

Iraq’s National Development Strategy aims to create a pro-business investment climate by implementing commercial and regulatory reforms and INIC has been tasked with simplifying and streamlining procedures for doing business. We are establishing a One-Stop-Shop to ensure that all the procedures necessary to obtain permits and licenses are undertaken by the Commission rather than by the investors. We hope that our services will be of use to you too.

Dr. Sami Al Araji
Chairman
Iraqi National Investment Commission