|
|
Join
our mailing list by entering a valid email
address in the field below.
|
|
|
|
|
|
IBCF: NEWS AND INFORMATION
NEWS VIA RSS:   [what is this?]
|
|
|
Foreign Investment in Iraq Growing
Contrary to current widespread perceptions that the bulk of government contracts to help rebuild Iraq will benefit only a small group of companies, numerous new opportunities exist through the new multi-billion dollar Development Fund for Iraq (the “Development Fund”), according to John Podgore, an associate in White & Case’s Washington, D.C. office and a former attorney at the Pentagon who has substantial government contracting experience.
“In addition to contracts for the reconstruction of Iraq being awarded by the U.S. government using U.S. government funds, the CPA is currently awarding contracts to help rebuild Iraq that are paid from the Development Fund ,” said Podgore.
The published procedures and guidelines for the award of Development Fund contracts contain a preference for “Iraqi-based” contractors. But due to the definition of “Iraqi-based” contractors and the liberalization of foreign ownership and investment opportunities under recently-published CPA (Coalition Provisional Authority) Order Number 39, Podgore says that it is possible for wholly-owned subsidiaries of American and multinational companies to qualify as Iraqi-based contractors for purposes of being awarded Development Fund contracts so long as such subsidiaries have their respective principal places of business in Iraq.
Under CPA Order 39, where an international agreement to which Iraq is a party provides for more favorable terms with respect to foreign investors investing in Iraq, the more favorable terms under the international agreement will apply. “While a new Iraqi government has the right to alter the CPA Order, it is unlikely it will do so given that the country needs foreign investment to successfully rebuild”, according to White and Case’s Pieter Bekker.
More
information can be found by visiting
our website at www.ibcf.com,
or by emailing us at clientsupport@ibcf.com.
Previous
issues of the IBCF Newsletter can be
found at: http://www.ibcf.com/news/newshome.php
About
IBCF:
International
Business Company Formation, Inc. assists
legal professionals with company formation,
both internationally and offshore, and
with registered agent and corporate
document retrieval services throughout
the world.
International Business Company Formation
is an affiliate of National Registered
Agents, Inc., a fully licensed professional
Registered Agent for thousands of business
entities, large and small, throughout
the entire United States.
International
Business Company Formation, Inc. is
located in the historic district of
Tappan, New York, approximately thirty
minutes from midtown Manhattan.
International Business Company Formation,
Inc.
101 Main Street, Suite One
Tappan, New York 10983
Toll Free: 888-664-6263
Phone: 845-398-0900
Fax: 845-398-0808
www.ibcf.com
|
|
Click to open
Universal Currency Converter
™
Click Here for a Time Zone Chart
|
