Doing Business in... Iraq
While doing business in Iraq comes with its own variety of unique and variable obstacles, the country has enormous economic potential. Iraq is ranked towards the bottom of the World Bank’s ease of doing business report. Nonetheless, it is still regarded as one of the world’s wealthiest countries, with substantial hydrocarbon reserves, a dense population, …
Contributed by Salt & AssociatesRead More...
Firms in the Spotlight... Al Hadeel Al Hasan Law Firm
Firms in the Spotlight... Salt & Associates
Legal Market Overview
2022 brought some changes to the political scene in Iraq with new president, Abdul Latif Rashid, elected in October 2022 for a four-year term. Initially scheduled for February 2022, the vote was postponed several times due to boycotts of parliamentary sessions and the quorum not being met. The economy has rebounded with a successful twelve months as new parties entered the market. There has been an uptake in real estate work going on, with billions being pumped into the country for construction projects including airports and highways. An upcoming project includes the US plan to build their biggest consulate in Erbil, the capital of the autonomous Kurdistan Region of Iraq. In comparison to last year, inflation has been less of an issue, with growth not being hampered as badly as other countries in the region. The legal market has been largely buoyant with new firms making their mark with an increase in cross-border matters and international investment in the country.