Iraqi oil boom lures foreign investment

With huge rise in its oil output, Iraq has become one of world’s fastest growing economies.

Amid troubled global economy, Iraq has emerged as one of the hottest places to do business, as companies from across the world flock to Baghdad in the wake of its fast growing wealth.

In recent years it has seen great rise in its oil output, surpassing Iran as OPEC’s second biggest producer.

Awash with billions of dollars of oil money, the country is making huge investments in infrastructure, which was devastated during the civil war that followed toppling of Saddam Hussein by US-led forces.

Al Jazeera’s Jane Arraf reports from Baghdad.

Source : Al Jazeera

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