Venture capital to work in Iraq because of the temptations of its oil wealth

Venture capital to work in Iraq because of the temptations of its oil wealth

03/10/14 - Baghdad / term-Presse

British newspaper revealed, for the high number of investors in Iraq despite security events because of the growth rates of future GDP, and with an eye to double Iraq's oil production three times during the past 30 years, stressed that the Iraqi market for securities witnessed a record growth compared to regional markets, predicting that up the budget in 2050 to $ 2 trillion.

The newspaper Financial Times UK, a report prepared by the Foundation FMG research on the management of the funds and the activity of the commercial market in the world and seen it (the long-Presse), that "despite security incidents plaguing Iraq, the venture capitalists and bankers are adventures to invest their money in this country attracted his fortune oil and energies the potential for future growth rates amazing national GDP of the country. "

Institution added that "there are many aspects promised in this country, Iraq has succeeded over the past three decades to double its oil production to three times his arrival to an annual growth rate of its gross domestic product by 10% with the increase in the capital of its market for securities by three-fold over a period of three years."

The newspaper in its report quoted American Foundation "in the Iraqi market for securities is considerable scope for investment because of the security situation has no effect on the process of buying and selling stocks and witnessed record growth quickly not seen competitive markets to the region where dominated by the shares of mobile phone companies and shares of banks banking".

The report continued that "among the 82 companies listed on the Iraq Stock Exchange, the 21 of which are banks where civil manages its money in business ventures in the country."

The newspaper quoted Sirefi Merle Laing from the Bank of America as saying that "the Iraqi economy may grow three times its size by the year 2024," while the predicted Citibank, the U.S. "up the country's budget up to $ 2 trillion by 2050, he will become one of the largest oil exporters in the world. "

On the other hand International Monetary Fund predicted "the possibility of taking Iraq to five trillion dollars Kaaoa?d from its oil exports for the period from the current time until the year 2035."

The speculation came CBI to confirm this prediction and the arrival of the annual growth rate of GDP of the country increased by 9.4% until 2016.

Promised Reuters news agency that Iraq is working to restore Ranked as "faster" source of oil growing in the world, and so scoring points for customers of Libyan oil after the cessation of Materials currently, "While shown that the processes of rehabilitation and development will enable Iraq to export 3.4 million barrels during the year 2014 the current, with produce an average of four million barrels, is expected to raise the rivals in OPEC.

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