Suitability of Iraqi legal system for building operation transfer contract in infrastructure construction projects

Abstract

Prior to following the 2003 war events, Iraq's political predicament the economic consequences that came with it resulted in the breakdown of its infrastructure. The build, operate, transfer (B.O.T.) scheme of project implementation is one of the valuable alternatives for upgrading public service levels under the requirements of the situation in Iraq. A sound legal environment compatibility with the needs of the B.O.T. contract is key to obtaining a beneficial B.O.T. project. This research will review Iraqi investment laws related regulations that address public-private partnerships appropriate to protect the governments' investors' rights. The required legislation to establish a legal structure that meets the requirements for investment participation, the current laws, the possibility of using them to establish a sound investment climate that meets the requirements of the investment market. The results show that there is a gap between the existing the required rules that are necessary for the adoption of the B.O.T. contract in Iraqi infrastructure projects.