Overview
Dec 07, 2007
Iraq (sometime Mesopotamia) was the cradle of civilization: the land where the first cities were built, where writing was invented, and where human beings first conceived of institutionalized government and codes of law. Iraq was once one of the most successful countries in the Middle East. It had good infrastructure and well-performing education and healthcare systems. But the rule of Saddam Hussein, and international sanctions, impoverished the country.The ongoing civil war made things worse, and the country is now in a terrible situation.
The current legal regime does not provide sufficient clarity regarding foreign ownership of private property. In addition, the country still offers no security, so foreign investment in the residential sector is unrealistic.