Iraq Stock Exchange expects to increase this year, investors

Network this day of News (HNN) - Chief Executive of the Iraqi Stock Exchange, said on Sunday that is expected to attract Iraq more foreign investment this year after I bought the foreign investors more than it sold in the Stock Exchange of Iraq in 2010 Mguetnasin shares worth up to $ 53 million.

He said Taha Abdul-Salam said foreign investors showed interest in large-scale shares of 85 companies listed on the Stock Exchange is expected to increase their interest with improved confidence after the formation of the new government.

He told Reuters: "bought a (foreign) about 36 billion shares and sold five billion shares only.

"I think the number will rise (this year)."

He said that foreigners, mostly from the United States and Europe, the Gulf and Egypt had bought shares worth $ 62 billion Iraqi dinars (53 million dollars) in 2010. It was selling shares worth eight billion dinars.

And much-needed infrastructure crumbling in Iraq to the investment with the country's recovery slow after decades of war and economic sanctions.

And foreign companies began to pump money into oil-rich Iraq, but the security situation and bureaucratic obstacles remain a source of concern as U.S. troops pull back after eight years of US-led invasion the United States.

Abdel-Salam said that the formation of a new government after more than eight months of inconclusive election raised hopes among foreign investors greater stability in the country.

The Iraq Stock Exchange, which started operations in 2004, a location rarely capitalist in a country dominated by state companies. The stock market has turned from manual trading to the use of e-dealing screens in 2009 and opened for trading two hours a day, five days a week.

The banking sector is the largest in the exchange, which also includes the shares of industrial companies, insurance companies, hotels and agricultural companies.

The total value of shares listed on the Stock Exchange about three billion dollars is expected Abdel Salam increase this year
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