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Iraq Investment Incentives

June 2, 2014 by Iraqi Research Foundation for Analysis and Development

To create a stronger and more fruitful investment environment in Iraq, the government issued amendments to Law 13 in 2006, and passed them in 2007. These legislative amendments were meant to aide in the attraction of foreign investors to Iraq.

Please read below for a list of Iraq investment incentives:

  • Non-Iraqis may own land for housing projects
  • Investment Commissions may form in governorates to address certain projects and perform duties effectively
  • Specify and restrict lands that are owned by the government to the national Investment Commission so that they are used for investment purposes
  • Foreign investors may repatriate capital brought into Iraq, and any profits earned
  • Investors may employ foreign labor
  • Investors may insure projects with any foreign or Iraqi insurance company
  • Investors may open bank accounts in Iraqi and non-Iraqi banks, in both foreign and Iraqi currency
  • Investors may reside in Iraq
  • Investors are allowed unimpeded entry and exit from Iraq
  • Investors are allowed to trade shares and bonds listed on the Iraqi Stock Exchange, and form investment portfolios.
  • Investors are allowed to lease land up to 50 years, subject to renewal
  • Investment Projects are protected from nationalization of any part of the project unless there is a legal sentence brought against the project

Please contact info@irfad.org to find out more about investment opportunities in Iraq.

One Thousand and One Nights

May 23, 2014 by LL

One Thousand and One Nights, or The Arabian Nights, is one of the most notable pieces of Arabic and Persian folklore. People around the world recognize the title, but few know the details of this legendary piece of literature.

This piece of work was not written by one person, but rather is an accumulation of tales and folklore from the Middle East, North Africa and South Asia—in particular from the Mesopotamian region that comprises modern-day Iraq.

The stories were put together over the course of several centuries; the first known edition of the text dates back to the 9th century specifically. In the 10th century, Baghdad’s Ibn al-Nadim’s Fihrist directly mentions The Arabian Nights and Scheherazade, although al-Nadim noted just 200 tales rather than 1,001. This goes to illustrate just how many different versions of The Arabian Nights can be found throughout the Arab world.

The Arabian Nights was first translated into English and introduced to the Western world in 1706. The Arabian Nights is primarily written in prose, and interspersed with verse. It is also a classic example of embedded narrative, or a story within a story.

The premise of The Arabian Nights is King Shahryar and his new wife Scheherazade. King Shahryar had killed all of his previous brides, and in order to avoid the same fate, Scheherazade ingeniously decides to tell him a new story each night, always ending with a cliff hanger, so that he allows her to live to tell the end of the story the next night—for 1,001 nights. Eventually the King grows to love her and spares her life. Some of Scheherazade’s stories that many people will find familiar are: Aladdin’s Wonderful Lamp, The Seven Voyages of Sinbad the Sailors, and Ali Baba.

Through Scheherazade’s stories and layered poetry, she touches on many themes, such as forgiveness, Allah, advice, warnings, and critical analysis of life’s many challenges.

 

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