FOR IMMEDIATE RELEASE March 19, 2004
Contact: Brian Leventhal
Office of Strategic Communications
Tel: 1-914-360-5288 leventhalb@orha.centcom.mil

 

COMPANIES FROM AROUND THE WORLD MEET IN BAGHDAD FOR JOINT VENTURE CONFERENCE

Baghdad, Iraq. More than 35 executives from 25 companies around the world will meet in the Baghdad Convention Center today and tomorrow to establish “Iraq’s Joint Venture Initiative,” a program to bring Iraqi State Owned Entities (SOE’s) and international privately held companies into partnership in the next phase of Iraqi reconstruction.

Iraq’s Joint Venture Initiative will introduce a significant amount of private sector investment capital into Iraqi reconstruction. In addition, the program will provide the Iraqi workforce, whose competitive skills have been underdeveloped by 30 years of isolation from the international community, access to new technology, successful management techniques, and mentoring opportunities.

Senior U.S. Advisor for Housing and Construction, Mike Karem, explained: “Working in partnership with international companies will open the door for new capital, new ideas, and new methodologies in Iraq. It will provide the Iraqi workforce with the opportunity to obtain on the job training and build advanced skills and ultimately improve their ability to compete in the world market“

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If you have any questions, please email Brian Leventhal at leventhalb@orha.centcom.mil