Panel Detail:
Tuesday, April 28, 2009
2:30 PM - 3:45 PM
Investing in Iraq
Speakers:
Zeki Fattah, Senior Economic Advisor to the Prime Minister, Kurdistan Regional Government
Charles Ries, Senior Fellow, Rand Corporation; former U.S. Ambassador to Iraq for Economic Transition Initiatives
John Sullivan, Partner, Gibson, Dunn & Crutcher; former Deputy Secretary, U.S. Department of Commerce
Moderator:
Stephen DeAngelis, Founder, President and CEO, Enterra Solutions LLC
A window of opportunity is open for doing business in Iraq.
Iraq is a leading source of human capital in the region and is motivated to re-establish its presence after years of war and unrest, and the international business community is interested in getting a stake in a country that will be a leader in the region, panelists said. But a dramatic increase in foreign capital will only occur upon stabilization of the overall security in the region, they said.
As security in the region increased dramatically from 2006 to 2008, so has U.S. interest in direct investments, John Sullivan said. Much of Iraq's potential lies in the young, urban, literate Iraqis who make up three-quarters of the population, he said. Nevertheless, panelists said investors need of real commitment from Iraq to accept foreign investments.
While 90 percent of the Iraqi government's revenue comes from oil and gas sales, Charles Ries said opportunity exists in other economic sectors, including agricultural development and human capital. He said the Iraqi government has become more open recently to infrastructure and development investments from foreign companies. For a full deployment of international investments, Ries said, the Iraqis need to establish a legal structure to regulate competition, liability protection, land ownership, intellectual property and, ultimately, compliance with World Trade Organization rules and regulation.
According to Zeki Fattah, Kurdistan is a model for the economic development in Iraq. The region, near Syria, Turkey and Iran, has a population of 5 million – 18 percent of Iraqis. After the destruction of war, the region has undergone major changes. Infrastructure has been rebuilt, and urbanization has taken place. The region is open to the private sector, and except for South Korea and the United States, all major economies have set up trade offices there. To give investors confidence, new laws have been passed guaranteeing repatriation of profits and protecting foreign investors from nationalization and expropriation.
Fattah said Kurdistan has capital but lacks technology, management and human resources. Highly educated individuals have emigrated from the region and have failed to return.
Link to Video
Friday, May 8, 2009
Tuesday, May 5, 2009
KRG US Representative responds to the Committee to Protect Journalists (CPJ)
May 5, 2009, Washington DC.
The KRG's Representative to the US, Qubad Talabany, assured the Committee to Protect Journalists (CPJ) that the KRG will seriously look into allegations of press freedom violations in Iraqi Kurdistan.
In a letter sent to CPJ Executive Director Joel Simon (see below), Representative Talabany states "We treat as a priority matters related to freedom of expression, and the development of civil society in our Region." He went on to say "I wish to assure you that we will look into every allegation stated in your letter and will respond in an appropriate way"
The CPJ applauded the KRG for progress made on press freedoms in Kurdistan, including the passage of a press law in 2008, but also cited allegations labeled against the government and judiciary of Iraqi Kurdistan.
We will keep you updated on developments related to this issue.
Executive Director
The Committee to Protect Journalists
330 7th Avenue, 11th Floor
New York, NY 10001
May 5, 2009
Dear Mr. Simon
Thank you for your thorough letter addressed to Prime Minister Barzani dated May 5th 2009, regarding the alleged press freedom violations in the Kurdistan Region. We treat as a priority matters related to freedom of expression, and the development of civil society in our Region.
Therefore I wish to assure you that we will look into every allegation stated in your letter and will respond in an appropriate way.
We in Iraqi Kurdistan are proud of the press law passed in October of 2008. This law, drafted and passed in part because of the support and guidance provided by the CPJ, is one of many steps that our leadership is taking to push our Region in the right direction on matters related to the development of freedom of expression and individual rights. The passage of this law alone will not resolve our issues however. Furthermore, we understand that there remain sporadic instances of a lack of adherence to this law by elements within our judiciary, but this hardly reflects a “deterioration of press freedoms in Kurdistan” as stated in your letter. We believe that only through the experience of actually implementing this new law, and working with respected organizations such as the CPJ, will we institutionalize this law, and better our practices.
While our governing and judicial bodies adapt to this new law, so must our journalists and media outlets. We welcome any efforts by the CPJ to suggest ways and to help promote a higher standard of professional journalism within our Region, as well an understanding of the need for a more robust adherence to the law by our judicial authorities.
Sincerely Yours,
Qubad Talabany
Representative to the U.S.
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