Iraq will welcome foreign investors at a major London convention next week and offer stake in the country's economic and financial future.

 

The investment conference, Iraq Finance 2012, will be held on September 17-18 at London's Grange Tower Bridge Hotel.

 

A high-level delegation, endorsed by Iraq's Prime Minister Nouri Al-Maliki and led by the Deputy Prime Minister Rowsch Shaways, will be welcomed by the UK Minister of State for Trade and Investment Lord Green. 

 

"Iraq is embarking on a major redevelopment programme and all government departments are preparing for huge growth and expansion" said Shaways. "The aims and objectives of Iraq Finance 2012 complement the urgent needs and reforms required across the country".

 

The delegation will discuss Iraq's investment requirements and key opportunities for regenerating the country's financial sector. Iraqi ministers and government officials are expected to call upon the support of the international community to help in financing Iraq's reconstruction.

 

It's also a chance for foreign investors to discover the massive financial potential in a stabilised Iraq. The country is already emerging as a major centre for international investment following its long isolation from world markets. Major opportunities exist across several industries if the appropriate financing and domestic banking sector is fully established. Iraq will use the conference to present its ideas for PPP and project financing, as well as a series of reforms and investments for its banking sector, including the restructuring of state banks.

 

The event has already attracted widespread investor attention. Leading investment and private banks are taking part together with IOCs, technology companies, insurance providers, and other financial institutions, all hoping to capitalise on the reconstruction of Iraq's physical and financial infrastructure, said a statement.

 

Haider Al Abadi, chairman of Iraq's Parliamentary Finance Committee, said: "This conference will contribute to the existing work of the committee by exploring mechanisms for regenerating the financial sector through active participation and dialogue with international clients, as well as to address any immediate and long term needs for reform". - TradeArabia News Service