Iraq is a country in transition. Following the end of the Gulf War in 2003, the Coalition Provisional Authority (“CPA”) issued Regulations and Orders which “suspended or replaced” parts of the Iraqi law in force. To date, the CPA “legislation” is still being applied by the Permanent Government.
The process of securing, stabilizing, and rebuilding Iraq has been uneven, with corresponding repercussions on foreign investment in the Iraqi market. There was widespread euphoria in the months immediately following the Gulf War, followed by a period of considerably reduced expectations as the security situation remained unstable. More recently, there appears to be growing confidence in the Permanent Government’s ability to reduce sectarian violence and otherwise maintain stability, with concomitant increased interest in foreign investment.
Iraq needs significant reconstruction work. Baghdad alone needs major restoration, rehabilitation, and development both to provide for a modern capital for the country and to enable the stock of buildings used for government and commerce to operate in accordance with modern standards.
Designers, planners, developers, and specialist engineers working will all be able to take advantage of the numerous different opportunities to remake Baghdad into a modern and efficiently functioning city. The opportunities for the private sector are almost limitless and include: city planning, all manner of transportation infrastructure, convention centres, hotels, municipal buildings, and cultural and recreational facilities. Shopping malls and retail service clusters are also needed.
Iraq is a country with a rich history. It is endowed with a wealth of natural resources and a human aptitude for development and progress. Slowly but steadily, Iraq is recovering from more than three decades of war, sanctions and economic decline. Notably, robust progress is being made towards establishing an efficient, transparent and equitable legal system. The purpose of this Guide is to provide a brief overview of those provisions of the Iraqi legal system which are likely to be of greatest importance to those concerned in the fields of construction and engineering wishing to conduct business in Iraq. The information contained in this guide states the legal position as at June 15, 2010.