Iraq was in effect put up for sale yesterday when the American-appointed administration announced it was opening up all sectors of the economy to foreign investors in a desperate attempt to deliver much-needed reconstruction against a daily backdrop of kidnappings, looting and violent death.
In an unexpected move unveiled at the meeting in Dubai of the Group of Seven rich nations, the Iraqi Governing Council announced sweeping reforms to allow total foreign ownership without the need for prior approval.
The initiative bore all the hallmarks of Washington’s ascendant neoconservative lobby, complete with tax cuts and trade tariff rollbacks. It will apply to everything from industry to health and water, although not oil.
But it is still likely to feed concerns that Iraq is being turned into a golden opportunity for profiteering by multinational corporations relying on their political connections.
Already, **the biggest reconstruction contracts have been allocated to American firms such as Bechtel and Halliburton, which have ties to the Bush administration. They were selected behind closed doors, with no opportunity for competitors to present bids. **
Five months after the overthrow of Saddam, there are no visible signs of reconstruction. Clean water and electricity are still not available to most people and entire neighborhoods are still without phone lines.
Washington is desperately seeking help with footing the $100bn bill it estimates rebuilding Iraq will cost.
America puts iraq up for Sale!
Not about the money or Oil US=Liar!