U.S. drops Iraq privatization, focuses on investors [View All]

[La_Serpiente]

U.S. drops Iraq privatization, focuses on investors 

WASHINGTON (Reuters) - With plans shelved to sell off some of
Iraq's state-owned businesses, the U.S. official in charge of
private sector development there is now focused on wooing
foreign investors to Iraq and creating jobs.

Thomas Foley, director of private-sector development for the
U.S.-led Coalition Provisional Authority in Iraq, said the CPA
had always intended for an Iraqi government to make decisions
over the sell-off of state-owned enterprises.

Any suggestions the CPA was trying to sell off Iraqi
businesses to foreigners were erroneous, said Foley in an
interview with Reuters on Wednesday.

"There never would have been a plan to sell off state
enterprises to foreigners. It would have been to Iraqis,"
said Foley, a venture capitalist.

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