This publication reviews measures taken to support investment policy and governance reforms in Iraq.  It finds that Iraqi parliamentary elections, held without major security incidents in March 2010, are the latest in a series of indicators suggesting that the country may be achieving greater stability in governance and security - a key prerequisite for foreign and domestic investment, growth and job creation. Furthermore, the business environment is gradually improving as a result of an ongoing institutional capacity building process supported by the international community.

The MENA-OECD Initiative on Governance and Investment for Development is part of this effort, playing a key role in building the capacity of the National Investment Commission and its one-stop shop for investment licensing. The Initiative has helped raise awareness on corruption and bribery issues, provided training for the negotiators of international agreements, and advised on implementing regulations for the landmark Investment Law of 2006. This publication examines these issues, and MENA-OECD involvement in advancing them, for the period 2007-2008.

-Foreword and Acknowledgments
-Introduction
PART I. MAIN FINDINGS, ASSESSMENTS AND RECOMMENDATIONS
Chapter 1. Promoting Investment in Iraq and the MENA Region: Law and Policy
-Introduction
-The New Investment Law and the National Investment Commission
-Attracting and benefiting from foreign direct investment
-NIC structure
-Relations between the National Investment Commission and other agencies
-Annex 1.A1. Key Features of the Iraqi Investment Law and Investment Promotion Guidelines
Chapter 2. International Investment Agreements and the Iraqi Investment Law
-Introduction
-Iraq's international investment agreements - an overview
-International agreements with investment-related provisions signed by Iraq
-Iraq's WTO accession
-Iraq's Investment Law benchmarked against MENA practices
-Annex 2.A1. Iraqi International Economic Agreements, Investment Law Provisions, and MENA Comparisons
Chapter 3. Fighting Corruption in Iraq - Sources and Challenges
-Introduction
-Sources of corruption in Iraq
-The fight against corruption in Iraq
-Conclusions and recommendations
-Annex 3.A1. Campaigning Against corruption, the Paris Agreement and Chapter Methodology
Chapter 4. Improving Transparency in Government Procurement Procedures
-Background
-Historical overview of Iraqi public procurement and its actors
-Transparency for fair and equitable treatment
-Non-competitive tendering methods
-Good management - Proper use of public funds
-Good management - High professional standards
-Prevention of misconduct - Risks to integrity
-Prevention of misconduct - High standards of integrity
-Prevention of misconduct - Policing misconduct
-Accountability and control - Responsibility
-Accountability and control - Dispute settlement
-Accountability and control - Empowering civil society
-Proposals for action
-Annex 4. A1. OECD Recommendations, the Iraqi Regulation, and the OECD Procurement Legislation Survey
PART II. PRACTICAL TOOLS FOR PUBLIC OFFICIALS
Chapter 5. Promoting Integrity and Preventing Corruption in the Public Service
-Introduction
-Tool No. 1. Code of conducct: Key principles and provisions
-Tool No. 2. Gifts checklist
-Tool No. 3. Checklist for identifying conflict of interest risk areas
-Tool No. 4. Training materials
Chapter 6. Mapping Risks in Public Procurement
-Introduction
-Risks of corruption in the needs assessment phase
-Risks of corruption in the planning phase
-Risks of corruption in the selection procedure
-Risks during the execution of contracts