Iraq 'an entrepreneur's paradise', says development group

An Iraq-registered company dedicated to rebuilding the war-torn country today encouraged UK businesses to invest in what it called an "entrepreneur's paradise".

An Iraq-registered company dedicated to rebuilding the war-torn country today encouraged businesses to invest in what it called an "entrepreneur's paradise".

The Iraqi Economic Development Group (IEDG) has opened up an office in Bradford, England.

The company's workers include Sunnis, Shias, Christians, Kurds and Arabs and it describes itself as a privately-owned, non sectarian company.

Although apolitical, the company works closely with the Iraq government "to the common goal of improving the lives of all Iraqis".

Formed in Basra in 2005, the company said it can help promote business products and services in Iraq, provide them with orders, and transport them to the market.

It said it has already developed more than 60 projects requiring billions of pounds worth of investments.

The company estimates that almost £65bn (€85bn) will be required from private finance to fill gaps in government spending and maintain the growth of the Iraq economy.

Projects carried out so far include rebuilding hospitals, schools, hotels, roads and bridges.

Services are needed in every sector of the economy, from electrical power to plastic bags, the IEDG said.

Chief executive at IEDG, Steve Neely, said: "Iraq is an entrepreneur's paradise."

The Bradford office has been opened to financially manage the company's business under British law.