VOL. XLVI

No 39

29-September-2003

IRAQ

IRAQ RECONSTRUCTION

Iraq Embarks On Rocky Road With Plans To Privatize Non-Oil Industries

Putting an end to 30 years of state control, the US-led administration in Iraq has announced broad measures to privatize the countrys industry, with the exception of oil, and published orders on foreign direct investment (FDI) and banking. The key pronouncement by Iraqi Minister of Finance Kamil al-Gailani was that 100% foreign ownership would be permitted in all sectors...