UAE-based companies and funds are the largest investors in Iraq by value, having committed more than $31 billion (Dh113.8bn) since 2003, representing 50 per cent of all investments in value terms, data released this week has shown.
Most of these projects were announced in 2008, the same year that the UAE forgave $7bn of Iraqi foreign debt and reopened its embassy in Baghdad, making it the first Arab country to reopen a permanent presence in the nation, according to research by Dunia Frontier Consultants, a firm based in Washington DC, and Dubai.
"We will see a continued and increased proportion of regional money enter into Iraq for the first time in 2009 as regional firms and funds rebalance their investments towards primarily regional ones," Dunia said.
No comments:
Post a Comment