The New Iraq: Revising Iraq's Commercial Law is a Necessity for Foreign Direct Investment and the Reconstruction of Iraq's Decimated Economy

Authors

• Judith Richards Hope, Paul, Hastings, Janofsky & Walker LLP
• Edward N. Griffin, George Washington University Law School

Abstract

The article examines the legal reforms implemented by the Coalition Provisional Authority (CPA) in post-conflict Iraq, particularly CPA Order No. 39, which liberalizes foreign investment. These reforms are crucial for attracting foreign direct investment (FDI) to revive Iraq's economy, which has been devastated by war, sanctions, and central planning. The article highlights the importance of creating a stable legal environment, including equal treatment for foreign and domestic investors, streamlined corporate governance, and adherence to international standards. However, it also points out gaps in protections against confiscation and the need for further reforms in areas such as business immigration and tax incentives. The analysis emphasizes the need for consensus among Iraqi stakeholders and international support to ensure the success and sustainability of these reforms.

Disciplines

Commercial Law | Comparative and Foreign Law | Law | Law and Economics

Recommended Citation

Judith R. Hope & Edward N. Griffin, The New Iraq: Revising Iraq's Commercial Law is a Necessity for Foreign Direct Investment and the Reconstruction of Iraq's Decimated Economy, 11 Cardozo J. Int'l & Comp. L. 875 (2004).
Available at: https://larc.cardozo.yu.edu/cjicl/vol11/iss3/3