According to provisional year-end figures from fDi Intelligence, Iraq’s capital inflows rose to $19.59bn in 2008 from $458.5m in 2007.

A number of foreign companies have invested during 2008, including Germany’s Siemens, which won a $2.1bn contract to supply gas turbines in Iraq. General Electric also signed a $3bn deal with Iraq’s electricity ministry to help rebuild and support the country’s electricity grid.

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Companies which invested in 2008 include Royal Dutch Shell, Al Qudra Holding and Daimler AG.