Doing Business In Iraq

Joel Wing examines the hurdles:

In the World Bank’s “Doing Business 2011” report, Iraq was ranked 166 out of 183 countries.

The World Bank found that hiring and firing workers was rather easy, and their pay relatively low at an average of $115.50 per month for a 19 year old. The problems came with starting and ending a firm in the country, and trading goods across borders. Iraq was ranked 174 out of 183 in ease of starting a business. There are 11 procedures companies have to go through that on average take 77 days to complete. There are 14 steps to get a construction permit, that take 215 days to finish. Registering a business on the other hand, was about average in the world, ranked at 96 out of 183, with only five procedures, taking 51 days. Getting credit was difficult, with a rank of 168 out of 183. Legal rights, protecting investments, and enforcing contracts were weak, while taxes were minimal. When it came to ease of closing a business Iraq was the worst in the world at 183 out of 183. Importing and exporting were also difficult and costly. Ease of exporting was ranked 179 out of 183 with ten documents taking 80 days, and a cost of $3,550 per container. Papers for importing took an average of 83 days and bringing in a container costs $3,650. Iraq ended up with the worst mark of any nation in the region.