2006年VOA标准英语-Foreign Investors See Northern Iraq as Gateway

By Margaret Besheer
Irbil, Iraq
30 June 2006

Iraq is struggling to rebuild after years of economic sanctions and conflict. But the lack of security in much of the country has scared away potential investors¹ and slowed reconstruction². But in the relatively³ quiet Kurdish area of northern Iraq, stability is paving the way for prosperity as the region works to attract foreign investment.

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Security fears in central and southern Iraq have made it impossible for many foreign companies to do business in those areas. But with the ability to offer security in the north, the Kurdish government has declared itself open for business.

Many foreign companies have already started coming to the Kurdish region. 

 
Hersh Tayyar 
  
Hersh al-Tayyar, the chairman of the Iraqi Businessmen's Union based in the northern city of Irbil, says recently Lebanese companies have been exploring the area's potential, but the bulk of the foreign businesses now in northern Iraq are from Turkey. One such company is the Turkish firm 77, which has invested a lot of money in cement batching plants.

Many of the companies here right now are seeking projects funded by the Kurdish regional government, rather than putting up the capital. But others, such as the Lebanese Bank Audi, have entered northern Iraq with an eye to the long-term, and are investing money and hiring and training local employees.

"It is a bet coming here to Kurdistan," said Charbel Moubarak, Bank Audi's regional manager. "We believe that this is the departure point, because our main target is Baghdad. While the security is prevailing⁴ here in Kurdistan, we can stay here, we can start from here and then move to other parts of Kurdistan, waiting for other cities, whenever the security prevails we will go there."

 
Turkish companies investing in northern Iraq
  
Tayyar of the Businessmen's Union says this is what many companies are doing. He says Kurdistan is uniquely positioned to be a gateway⁵ to the rest of Iraq.

The Kurdish regional government also shares this view, and has been working to revise its foreign investment law to attract international investors to the north.

Douglas Layton, the director of the Kurdistan Development Corporation, a joint⁶ public-private company, says the new investment law will have many incentives⁷ for foreigners.

"For example, foreigners will be able to own 100 percent of a local company, whereas in the past it was 49 percent, and it had to be majority controlled by Iraqis," he said.

Foreign investors will also be able to own property; they will receive an automatic five-year tax holiday that can be extended to 10 years, and they will be exempt⁸ during that time from import duties, income taxes and taxes on repatriated⁹ profits. 

Kurdish Parliament 
  
  
But the money is not rolling in just yet, as some issues remain to be addressed. For example, the bureaucracy is cumbersome¹⁰ and moves slowly. The Kurdish parliament was expected to pass the foreign investment law last week, but legislators abandoned their task when the assembly's airconditioning broke down on a typically hot day.

The education system has also decayed during years of sanctions and neglect, and university students are graduating unprepared to enter the business world.

Northern Iraq also lacks a proper infrastructure¹¹ to support large-scale foreign investment. Douglas Layton, however, sees that not as an obstacle to investment, but as an opportunity.

"From an investment point of view, this is a tremendous opportunity," he said. "We are going to have to build everything from A to Z. So whatever sector¹² a company is involved in, there is opportunity here in Kurdistan to see a significant return on investments that they make."

Layton says smart investors realize that now is the time to be entering northern Iraq as the region is beginning to take off

1 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

2 reconstruction   

n.重建，再现，复原

参考例句：

• The country faces a huge task of national reconstruction following the war.战后，该国面临着重建家园的艰巨任务。
• In the period of reconstruction,technique decides everything.在重建时期，技术决定一切。

3 relatively   

adv.比较...地，相对地

参考例句：

• The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
• The operation was relatively painless.手术相对来说不痛。

4 prevailing   

adj.盛行的；占优势的；主要的

参考例句：

• She wears a fashionable hair style prevailing in the city.她的发型是这个城市流行的款式。
• This reflects attitudes and values prevailing in society.这反映了社会上盛行的态度和价值观。

5 gateway   

n.大门口，出入口，途径，方法

参考例句：

• Hard work is the gateway to success.努力工作是通往成功之路。
• A man collected tolls at the gateway.一个人在大门口收通行费。

6 joint   

adj.联合的，共同的；n.关节，接合处；v.连接，贴合

参考例句：

• I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。
• We wrote a letter in joint names.我们联名写了封信。

7 incentives   

激励某人做某事的事物( incentive的名词复数 )； 刺激； 诱因； 动机

参考例句：

• tax incentives to encourage savings 鼓励储蓄的税收措施
• Furthermore, subsidies provide incentives only for investments in equipment. 更有甚者，提供津贴仅是为鼓励增添设备的投资。 来自英汉非文学 - 环境法 - 环境法

8 exempt   

adj.免除的；v.使免除；n.免税者，被免除义务者

参考例句：

• These goods are exempt from customs duties.这些货物免征关税。
• He is exempt from punishment about this thing.关于此事对他已免于处分。

9 repatriated   

v.把（某人）遣送回国，遣返( repatriate的过去式和过去分词 )

参考例句：

• The refugees were forcibly repatriated. 难民被强制遣送回国。
• Ancient artworks were repatriated from the US to Greece. 古代艺术品从美国遣送回希腊。 来自《简明英汉词典》

10 cumbersome   

adj.笨重的，不便携带的

参考例句：

• Although the machine looks cumbersome,it is actually easy to use.尽管这台机器看上去很笨重，操作起来却很容易。
• The furniture is too cumbersome to move.家具太笨，搬起来很不方便。

11 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。

12 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。