Assessment of Opportunities in Iraq, an Untapped Market, 2018

Assessment of Opportunities in Iraq, an Untapped Market, 2018

From War, to Reconstruction and Economic Recovery

RELEASE DATE
17-Sep-2018
REGION
South Asia, Middle East & North Africa
Research Code: 9AB4-00-21-00-00
SKU: CI00570-SA-MR_22311

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Description

After three years under combat operations, the end of Iraq’s war against the Islamic State (ISIS) encourages the country’s reconstructionand economic reformation. As a result of healthy foreign international reserves, limited restrictions on cross-border fund transfers as well as an attractive legal framework that provides greater protection and incentives for foreign investors, investments in the country is expected to generate the highest rate of returns.

Apart from FDI, primary opportunity areas for global companies also include technology upgrades and manufacturing process improvement across all industries. Most industries operate on obsolete or old technologies as wars and earlier sanctions prevented access to latest technologies.

As a national development plan, Iraq aims to boost the economy through privatisation and development of oil & gas as well as minerals along the value chain. The plan is to not only privatise existing state-owned enterprises but also support SMEs with tax holidays and financial incentives. All in all, FDI inflow is expected to help the Iraqi Government to achieve the target within the next five years.

Enabled by the prospect of greater stability and security, Iraq has listed a total of over 212 projects ready for investment across more than 10 sectors. Of these sectors, oil and refineries is the most promising sector for investors followed by industrial and manufacturing, infrastructure, health and education, energy and agriculture sector.

With a population of nearly 40 million, Iraq is also emerging as one of top consumer markets in the Middle East that primarily depends on imports. Frost & Sullivan’s recent study, Iraq’s Untapped Opportunities; Path to Investment Boom, highlights the growth potential in the following markets from 2018 to 2022 – Grains, Food & Beverages (8-10% CAGR), Pharmaceuticals (10-12% CAGR), Beauty and Personal Care (8-10% CAGR), Furniture and Homewares (5-6% CAGR), Footwear, Textile and Apparel (5-6% CAGR), Medical Devices (18-20% CAGR), Consumer Electronics (7-8% CAGR) and Plastic Products (9-10% CAGR).

Iraq plans to focus on the Oil & Gas value chain, downstream value chain, Minerals value chain, and tourism and financial services to move the GDP growth rate by 6% annually in the next 8 years. Hence, with a population of over 39 million people as of 2018, Iraq remains an attractive consumer market with potential of over USD 40 billion.

Table of Contents

Iraq – A Brief Country Profile

Resurgence of a Nation Battered by Wars and Conflicts – Iraq, a Nation in Rebuilding!

Economy Heavily Reliant on Oil; Stabilization the Key Word in Years Ahead!

Country’s Business Attractiveness to Increase with Marginal Improvements

Rebuilding Process Needs to Address Key Business Challenges

Despite Challenges, Factors Aplenty Make Iraq an Attractive Investment Destination

Opportunities in post-ISIS Iraq

Redevelopment Plans Call for Large Investments in Construction and Infrastructure

Among the World’s Largest Oil Reserves, Immense Value Chain Opportunities Exist in Iraq; Huge Energy Demand-Supply Gap Needs Redressal

Battered Transportation Infrastructure and Underdeveloped Healthcare Ecosystem Provide Opportunities for Investment and Growth

Advancement of Telecom Infrastructure and Efficiency Enhancement Measures to Drive Telecom Investment Requirements

3 Primary Opportunity Areas for Global Companies

Potential Consumer Market Opportunities

General Overview – Geography

Demographic Trends – Population and its Structure

Demography and Prosperity Indices

Demographic Trends – Working Population

Demographic Trends – Labour Market

Demographic Trends – Poverty

Demographic Trends – Workforce Regulations

Macroeconomic Overview

Economic Scenario – The Constituents of the Economy

The Impact of Military Conflict and Sanctions to the Iraqi Economy

The ISIS Situation in Iraq

A Nation in Rebuilding – Foreign Support for Iraq

PESTLE Analysis — An Overview

PESTLE Analysis — Key Factors

PESTLE Analysis — Key Factors (continued)

Industry – Select Indicators

Shareholder Rights

Industry Supportive Actions and Policies

Trade and Investment Environment

Trade and Investment Environment (continued)

Iraq Merchandise Trade Profile 2017

Global Alliance to Rebuild Iraq, Expected to Improve FDI Indicators Over the Next 5 Years

Ease of Doing Business – Starting a Business and Permits

Ease of Doing Business – Electricity, Property and Credit

Ease of Doing Business – Investors and Contracts

Ease of Doing Business – Taxes and Trading Across Border

Ease of Doing Business – Insolvency

Taxes and Duty Structure – Income Tax

Taxes and Duty Structure – Property Tax, Sales Tax, VAT

Taxes and Duty Structure – Custom Tariffs

Tax in Kurdistan Region

Tax and Customs Incentives and Exemptions

Challenges to Businesses in Iraq

Despite Challenges, Factors Aplenty Make Iraq an Attractive Investment Destination

Creation of Investment Zones to Channelise Investment Inflow

Iraq Free Zones

Iraq Free Zones (continued)

Guarantees and Privileges for Foreign Investment

Guarantees and Privileges for Foreign Investment (continued)

Emergence of Private Sector to Boost Development Plans

Banking Sector Overview

Banking Sector Overview (continued)

Oil & Gas Sector Overview

Oil and Gas Reserves

Oil and Gas Reserves (continued)

Oil and Gas Reserves (continued)

Refining Capacity in Iraq

Oil & Gas Sector Historic Profile and Recent Developments

Petrochemical Industry Overview in Iraq

Fertilizer Industry Overview in Iraq

Oil & Gas Sector – Summary of Shell’s Projects in Iraq

Oil & Gas Sector – Snapshot of Proposed Projects

Oil & Gas Sector – Developments on the Iraq Flares

Oil & Gas Sector – Key Opportunities and Investment Avenues

International Oil and Gas Companies in Iraq

Energy Sector Overview

Energy Sector Historic Profile and Recent Developments

Energy Sector – Proposed Plans and Key Opportunities

Energy Sector – Investment Opportunities

Energy Sector – Available Investment Opportunities

Minerals Sector Overview

Minerals Sector – Mapping of Available Resources

Minerals Sector – Mapping of Available Resources (continued)

Minerals Sector – Proposed Plans and Key Opportunities

Minerals Sector – Investment Opportunities

Industrial Sector Overview

Industrial Sector – Profile of State-Owned Enterprises (SOEs)

Industrial Sector – Profile of Private Sector

Industrial Sector – Profile of State-Owned Enterprises (SOEs)

Cement Industry Overview

Steel Industry Overview

Automotive Industry Overview

Automotive Industry Profile and Key Statistics

Automotive Industry – Future Opportunities and Proposed Plans

Agriculture & Food Sector – Overview

Agriculture & Food Sector – Overview (continued)

Agriculture Sector – Production Trends and Import Patterns

Farm Animal Rearing and Poultry Sector – Trends and Overview

Dairy and Meat Sector – Trends and Overview

Packaged Food and FMCG Sector

Agriculture and Food Sector – Outlook

Housing & Infrastructure Sector – Overview

Housing and Infrastructure Sectors – Investment Opportunities

Education Sector – Overview

Healthcare Sector Overview

Healthcare Sector Profile

Water Supply & Sanitation Sector Overview

Water Supply and Sanitation Sector Challenges

Government Strategy for Water Supply and Sanitation Sector

Iraq Water Treatment Industry Overview

Iraq Water Treatment Industry Plans and Projects

Telecommunication Sector Overview

Oil & Gas Opportunities

Oil & Gas Opportunities (continued)

Electricity Opportunities

Electricity Opportunities (continued)

Renewable Energy Opportunities

Telecommunication Opportunities

Healthcare Opportunities

Healthcare Opportunities (continued)

Healthcare Opportunities (continued)

Environment Sector Opportunities

Housing Sector Opportunities

Available Investment Opportunities in the Housing Sector

Available Investment Opportunities in the Housing Sector (continued)

Available Investment Opportunities in the Housing Sector (continued)

Available Investment Opportunities in the Housing Sector (continued)

Opportunities in Rail Sector

Opportunities in Transportation Sector, other than Rail

Opportunities in Industry and Minerals Sector

Opportunities in Industry and Minerals Sector (continued)

Opportunities in Industry and Minerals Sector (continued)

Opportunities in Industry and Minerals Sector (continued)

Opportunities in Industry and Minerals Sector (continued)

Opportunities in Industry and Minerals Sector (continued)

Opportunities in Industry and Minerals Sector (continued)

Opportunities in Industry and Minerals Sector (continued)

Opportunities in Industry and Minerals Sector (continued)

Opportunities in Industry and Minerals Sector (continued)

Opportunities in Industry and Minerals Sector (continued)

Opportunities in Industry and Minerals Sector (continued)

Opportunities in Industry and Minerals Sector (continued)

Opportunities in Industry and Minerals Sector (continued)

Opportunities in Education Sector

Opportunities in Education Sector (continued)

Opportunities in Education Sector (continued)

Opportunities in Education Sector (continued)

Opportunities in Education Sector (continued)

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Related Research
After three years under combat operations, the end of Iraq’s war against the Islamic State (ISIS) encourages the country’s reconstructionand economic reformation. As a result of healthy foreign international reserves, limited restrictions on cross-border fund transfers as well as an attractive legal framework that provides greater protection and incentives for foreign investors, investments in the country is expected to generate the highest rate of returns. Apart from FDI, primary opportunity areas for global companies also include technology upgrades and manufacturing process improvement across all industries. Most industries operate on obsolete or old technologies as wars and earlier sanctions prevented access to latest technologies. As a national development plan, Iraq aims to boost the economy through privatisation and development of oil & gas as well as minerals along the value chain. The plan is to not only privatise existing state-owned enterprises but also support SMEs with tax holidays and financial incentives. All in all, FDI inflow is expected to help the Iraqi Government to achieve the target within the next five years. Enabled by the prospect of greater stability and security, Iraq has listed a total of over 212 projects ready for investment across more than 10 sectors. Of these sectors, oil and refineries is the most promising sector for investors followed by industrial and manufacturing, infrastructure, health and education, energy and agriculture sector. With a population of nearly 40 million, Iraq is also emerging as one of top consumer markets in the Middle East that primarily depends on imports. Frost & Sullivan’s recent study, Iraq’s Untapped Opportunities; Path to Investment Boom, highlights the growth potential in the following markets from 2018 to 2022 – Grains, Food & Beverages (8-10% CAGR), Pharmaceuticals (10-12% CAGR), Beauty and Personal Care (8-10% CAGR), Furniture and Homewares (5-6% CAGR), Footwear, Textile and Apparel (5-6% CAGR), Medical Devices (18-20% CAGR), Consumer Electronics (7-8% CAGR) and Plastic Products (9-10% CAGR). Iraq plans to focus on the Oil & Gas value chain, downstream value chain, Minerals value chain, and tourism and financial services to move the GDP growth rate by 6% annually in the next 8 years. Hence, with a population of over 39 million people as of 2018, Iraq remains an attractive consumer market with potential of over USD 40 billion.
More Information
No Index No
Podcast No
Author Ali Mirmohammad
Industries Cross Industries
WIP Number 9AB4-00-21-00-00
Is Prebook No
GPS Codes 9600-B1,9612-B1,9100-A2,9869-A2,9AAB-A5,99BB-B1,9833-A2,9836-A7,9837-B1,9841-F1,9A69-MT,9A71-A2,9AA3,9595,9A08