Iraq Offers Risks, Rewards for Businesses, U.S. Official Says

[DuctapeFatwa]

Edward Burton doesn't sugarcoat the risks associated with doing business in postwar Iraq.
U.S. companies can run into trouble setting up partnerships with less-than-scrupulous Iraqi businesspeople in a country that has a makeshift legal system and an unsettled government.

Americans who make the trip to Baghdad or Basra are also advised to hire armed security guards to protect them from violence and theft.
But while the risks of doing business in Iraq are greater than they are in other parts of the world, Burton said the potential rewards are great.

"Iraq represents enormous potential," said Burton, commercial attache for the U.S. Commercial Service in Riyadh, Saudi Arabia. "It can be the bread basket for the region. Certainly there are security risks, very significant security risks. But we want to stress that the security risks are manageable."

They will also have to realize that they are unlikely to get a piece of the $18.6 billion in federal money that has been allocated to help rebuild Iraq. The bulk of that money will likely be doled out to Fortune 500 companies..perhaps the most lucrative option -- is for U.S. companies to partner with private companies in Iraq to provide goods and services. "This represents the best possibility for long-term business opportunity in Iraq," Burton said...Such an opportunity hasn't existed since the end of World War II..

http://www.zawya.com/Story.cfm?id=062e4413&Section=Main&page=Home&channel=Iraq%20Reconstruction%20News&objectid=5069ED60-E2BF-46F4-A22C03E0CD918259