Foreign investors seeking a foothold in Iraq take heed: you'll need a healthy dose of patience, a flexible schedule, and a love of tea.
Taking the time to build relations with local partners is the key to success, they say.
Nothing is fast in Iraq," said Alan Morrell, vice president of American bottled water firm Oasis.
NIC Chairman Sami al-Araji said dozens of companies contact him a month regarding business opportunities in Iraq.
"I don't know anywhere else in the world where it's more essential (to have a local partner). said James Hogan, former chief executive of banking giant HSBC's business in Iraq.
"I stopped relying on e-mails as a means of communication. Either they don't get read, or even if they do get read, they might not necessarily generate a reply," said Hogan.
So what are the essential rules for doing business in Iraq?
"Throw your timeline out the window, stick to your budget, and your plan needs to be able to be fluid," Ground Works President Greg Holmes said.
http://www.pukmedia.com/english/index.php?option=com_content&view=article&id=11191:investing-in-iraq-requires-patience-drinking-tea&catid=25:iraq&Itemid=386
Source: Reuters
Taking the time to build relations with local partners is the key to success, they say.
Nothing is fast in Iraq," said Alan Morrell, vice president of American bottled water firm Oasis.
NIC Chairman Sami al-Araji said dozens of companies contact him a month regarding business opportunities in Iraq.
"I don't know anywhere else in the world where it's more essential (to have a local partner). said James Hogan, former chief executive of banking giant HSBC's business in Iraq.
"I stopped relying on e-mails as a means of communication. Either they don't get read, or even if they do get read, they might not necessarily generate a reply," said Hogan.
So what are the essential rules for doing business in Iraq?
"Throw your timeline out the window, stick to your budget, and your plan needs to be able to be fluid," Ground Works President Greg Holmes said.
http://www.pukmedia.com/english/index.php?option=com_content&view=article&id=11191:investing-in-iraq-requires-patience-drinking-tea&catid=25:iraq&Itemid=386
Source: Reuters
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.