Under the Slogan of “Iraq Trending towards Economic Development through Franchising”
NIC Hosts Franchise Workshop which Aims at Expanding the Activities of International Commercial Brands in Iraq
NIC, in coordination with the US Department of Commerce and the US Embassy in Baghdad, hosts a Franchise granting workshop over four days for the Iraqi private sector to expand the activities of international commercial brands in Iraq.
Dr. Sami AL- Araji, NIC Chairman said in his opening speech that Iraq is in its way for opening up in services sector through providing support to the Iraqi private sector adding that obtaining the licenses of international commercial brands can provide important economic revenues represented by the opening up of the big world companies towards Iraqi Market and creating many job opportunities all over Iraqi provinces.
Dr. Sami assured that NIC, which represents the umbrella for the Iraqi private sector, is determined to organize the required efforts in this field in coordination with the PICs after laying the necessary legal frameworks in a way that grants adding added value for the Iraqi Economy giving his directives to facilitate the visas for brands owners until obtaining the legal approvals to name the whole project as an investment project rather than being named as a commercial one.
The US Counsel in his turn said in his speech that the US Franchisers are looking to Iraq as a unique key market and are willing to reinforce its being an active franchise market in a way that contribute to local job opportunities growth and improving the supply chain which leads to more investments in the end.
Ms. Mays al- Ebosy, the coordinator of the US Department of Commerce and the and the supervisor of the session, invited the attendees to open discussions to listen to the obstacles that face the Iraqi private sector in this file, referring that the second and third days of this workshop will be dedicated for PICs and promoting investment in provinces, while the fourth day will be focusing on polarizing hotel investments to Iraq.
The first day session included in all the opportunities of entering the Iraqi market, the franchise current market, the challenges that might hinder this market and what can be undertaken to provide support this important commercial sector.