Posted on 17/02/2018
Iraq is attracting increasing numbers of foreign investors in 2018. At MSELECT, we have seen first hand many clients return to the country recently as well speak with many others that are planning on doing so. With plenty of good news coming out of Iraq concerning political and social stability and economic growth, international organisations are keen to take advantage.
This brief article looks at why doing business in Iraq in 2018 is easier and filled with growth opportunity, as well as how MSELECT helps international organisations to reach their full business potential.
Why are more companies doing business in Iraq in 2018?
Many types of organisation are either returning to the country or investing in the Iraqi market to do business for the first time. They include NGOs, oil and gas corporations, and companies from the tech, industrial and manufacturing sectors. At MSELECT we are receiving a high number of consultancy queries to do with outsourced services and staffing.
Iraq’s economy is predicted to grow by over 2% in 2018 and near to 4% in 2019. The price of oil has risen and is expected to increase further in coming years. Iraq’s oil output is nearing capacity limit of 5 million barrels per day and oil production in the autonomous region of Kurdistan is back on track. Nearly the entire Iraqi budget is reliant on its oil revenues, so these developments come as a welcome boost. The return to near capacity production levels and the upswing in the price of oil have helped stabilise the economy and attract the attention of foreign investors.
The victory over ISIS that put an end to its insurgency in 2017 has also gone a long way to improving conditions for organisations to establish operations in the country. Moreover, the Iraqi government has introduced measures to make doing business smoother and faster.
How MSELECT can help your organisation succeed in Iraq
At MSELECT we provide international organisations with services to support their operations in Iraq. Some of our corporate clients include Nokia Siemeins, ExxonMobil, BP, Shell, Chevron, Weatherford and Schlumberger. Our NGO clients include UNIDO, NRC, DRC and MRF.
We can help your organisation succeed better in Iraq by providing the following:
1. Personnel outsourcing, including payroll
We will staff your team for you with skilled, experienced professionals to meet your vacancy requirements on demand. We offer an end-to-end recruitment service and outsource technical and non-technical employees.
2. Immigration services
For employees from abroad, we take care of the paperwork for you, ensuring that you aren’t held back by bureaucratic processes when bringing talent to Iraq.
3. Logistical advice
The MSELECT team is vastly experienced in advising organisations with logistical issues and understands the Iraqi business landscape as well as the working practices and culture.
4. Multilingual 24/7 support team
Our team is multilingual, working in English, Arabic and Kurdish. This ensures that communication does not present barriers to your enterprise success in Iraq.
5. Staff training courses
One of our flagship services, MSELECT Academy covers a broad range of areas with in-depth courses designed to improve employee skills, allowing them to perform their role to a superior level. Courses include Soft Skills, IT, Business, Health & Safety, Vocational, Languages and many more.
To get up and running as efficiently as possible and maximise your success when investing in Iraq, a local, experienced and reputable business partner offers the solution.