The Basra Development Commission (BDC) was announced by Barham Saleh, the Iraqi Deputy Prime Minister, and the Basra Provincial Council, at the third Basra Development Forum on 12 December 2007.
The Commission brings together national, regional and international business knowledge to provide advice on how to increase investment and economic growth in the province. It will serve as a high level advisory body championing inward investment and local business development, but not as a direct delivery agent. Michael Wareing, international CEO of KPMG, has been appointed as co-chair of the Commission. The other co-chair is Munadil al Miyahi, chair of the Basra Provincial Council’s Economic Development Committee. Four other Iraqi Commissioners have now been confirmed by the Government. The full Commission met for the first time in Basra on 19 February.
The next step for the Commission is to formulate a Basra Economic Development Strategy, to establish Working Groups and a Youth Unemployment Task Force to consider taking forward priority areas of work, and to lead gatherings for potential investors in Basra. The first will be an ‘Invest Basra’ conference in Kuwait, March 12-13. The purpose of the conference is to bring external investors together with individuals and companies offering serious investment opportunities in Basra province.