Financial Times: The murder rate in Chicago is higher than Basra, Iraq despite being a war zone, but it attracts investors
Confirmed the prestigious British newspaper, in a report on Sunday that Iraq, despite the deterioration of the conditions of security, but it still represents a golden opportunity for investors in the world, indicating that a little bit of risk can generate huge funds in Iraq.
As revealed about the movement of a global consortium of banks, including Citigroup, JP Morgan, Standard Chartered, they will open their branches in Iraq, as well as with Star Wood Hotels Group, Sheraton and Wyndham are also expressed its willingness to enter Iraq.
She says, “Financial Times,” the British newspaper famous, in a report written by her American journalist, Steve Johnson, published on Sunday, said that “this Muslim country (Iraq) بسكانه the 33 million people will soon be opening resort at a cost of two billion dollars, if successful, Emaar Dubai in their endeavor. “
The paper adds that “in time, who hails Iraq into the abyss of chaos, we see that investors are losing a golden opportunity, there are many opportunities in the field of banking, hotels Investors were property developers may Chksoua earlier, do not be surprised to have to believe the latter had entertained a group Hardy by the planning in investment in this country. “
However, it Tstrdek saying that “profits thriving despite the deteriorating security situation, can imagine what would happen if the conditions were better.”
And indicate that “This is the question posed by the San Jay Monowaa Head Sansar Capital, which manages a loan of $ 30 million invested all in Iraq.”
He said Geoffrey, the Financial Times, that “the security situation, although he is misleading but Baghdad thrive at a good pace, it is very difficult to get a reservation at a restaurant, yes there are areas extremely dangerous, and will not go to it, but this case is the same as in the Baltimore area (the largest cities the U.S. state of Maryland), the highest murder rates in Chicago or Miami than it is in Basra. “
Commented Johnson, author of the report by saying, “Some local managers are quite skilled in making money under these hostile conditions, and this is not ideal, but we have not noticed any effect on the course of business.”
He adds that “three-quarters of those involved in this field optimistic because of the recovery of Iraq’s oil industry, which accounts for two-thirds of gross domestic product (GDP) and 80 to 90 percent of government revenue.”
In the past year, Iraq was able to outperform on Iran to become the second largest producer in OPEC, is the first time for him since the late eighties, despite technical problems and bomb attacks that can stop the work of this sector and prevent it from reaching full production capacity.
See Johnson, American journalist known, his report published yesterday in the Financial Times, said, “This partial recovery has helped support some consumer companies such as Baghdad Soft Drinks which is the main distributor of Pepsi.”
He says both موتواني and Pat, who possess 10 percent of the soft drinks company, told the newspaper that “people before a year from now they were asking soft drinks cheap, but now they are demanding the original product. Earnings have reached 400 percent over the past year.”
And add that “Iraq is one of the most active places on earth if I was able to develop an efficient distribution system.”
For his part, shows Sherif Salem, which invests $ 21 million, that “many of the consumer industrial companies fell to the scarcity of capital, and its need for foreign expertise, especially government-owned companies that have to compete in the center of the capitalist environment.”
And stresses the Financial Times, that “the banks also play a large role in the economy, as the net profit to 200 per cent during the period 2010 – 2012, as the telecommunications sector is the other factor prosperous, فشركة ACL at the forefront of this sector raised its shares for trading in the month of February and ستمشي on pace Zain Iraq and Korek Telecom in 2014. “
It is believed Pat, who owns and Istthmraladid facilities in Iraq, said that “a number of Iraqi companies owned by the families of the other is known will go its shares within the next two years.”
He points out that “the obstacle in front of this economic development is the lack of reliable development services in the country, and that is the major investor in the world is present in Iraq and therefore the loan mutual security is the way that investors can route of the well-known and wealthy families.”
And stamped the British newspaper report, saying “It is widely believed that the Iraqi market need 10 years to reach maximum capacity, and this situation may be the best to make money, because the country took moving from scratch and there are many opportunities and all you need is a foot on the risk.”
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