Final Report
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NINEWA INVESTMENT FORUM December 3–5, 2019 Final Report IRAQ GOVERNANCE AND PERFORMANCE ACCOUNTABILITY PROJECT (IGPA/TAKAMUL)/NINEWA INVESTMENT FACILITATION INITIATIVE Program Title Iraq Governance and Performance Accountability Project (IGPA)/Ninewa Investment Facilitation Initiative (NIFI) Sponsoring USAID Office USAID Iraq Contract Number AID-267-H-17-00001 Contractor DAI Global LLC Date of publication January 4, 2019 Author IGPA/NIFI Project Team Cover Panelist discuss the benefits of investing in Ninewa Province during the opening panel of the Ninewa Investment Forum. The authors’ views expressed in this publication do not necessarily reflect the views of the United States Agency for International Development or the United States Government. 2 | Ninewa Investment Forum Final Report CONTENTS ACRONYMS ................................................................................................................................................ 4 EXECUTIVE SUMMARY ........................................................................................................................... 5 INTRODUCTION ..................................................................................................................................... 8 PRE-EVENT ACTIVITIES .......................................................................................................................... 9 Investor Engagement Through Roadshows ........................................................................... 10 Business Development Services for Featured SMEs ........................................................... 12 OUTCOMES .............................................................................................................................................. 13 Analysis of Attendance............................................................................................................... 13 Conference Proceedings ........................................................................................................... 16 Matchmaking Meeting Proceedings ......................................................................................... 21 Business Development Center Registration ......................................................................... 27 Women’s Participation at the Forum ..................................................................................... 28 Supporting Organizations .......................................................................................................... 28 Communications and Outreach ............................................................................................... 29 Media Coverage ........................................................................................................................... 30 CHALLENGES AND LESSONS LEARNED ....................................................................................... 34 ANNEXES .................................................................................................................................................. 39 Annex 1 – Summary of Investor Roadshow Report ........................................................... 39 Annex 2 – Agenda ....................................................................................................................... 44 Annex 3 – NIFI Business Development Center Materials ................................................. 49 Annex 4 – Communications Materials ................................................................................... 51 Annex 5 – SME Profiles ............................................................................................................. 60 3 | Ninewa Investment Forum Final Report ACRONYMS AMCHAM American Chamber of Commerce AV Audio-visual BDC Business Development Center BDS Business Development Services GOI Government of Iraq IGPA Iraq Governance and Performance Accountability project IMMDF Iraq Middle Market Development Foundation KRI Kurdistan Region of Iraq KRG Kurdistan Regional Government MENA Middle East and North Africa MoU Memorandum of Understanding NCCR Ninewa Center for Consulting and Research NDA Non-disclosure agreement NIB Ninewa Investment Board NIC Ninewa Investment Commission NIFI Ninewa Investment Facilitation Initiative SME Small and medium enterprises UAE United Arab Emirates USAID United States Agency for International Development 4 | Ninewa Investment Forum Final Report EXECUTIVE SUMMARY The Ninewa Investment Forum conducted in Erbil from December 3-5, 2019 brought together international and diaspora investors with businesses from Ninewa to showcase the investment potential of northern Iraq. The Forum represented a unique collaboration between the U.S. and Iraqi private and public sectors to support communities in Ninewa through catalytic investment opportunities. Attendees included local businesses, international and domestic investors, and high-level officials from the U.S. Government, Government of Iraq (GOI), and the Kurdistan Regional Government (KRG). The Forum demonstrated the potential of the private sector to align diverse groups around shared interests and the strong desire within northern Iraq’s communities to achieve self-reliance through developing prosperous local economies. US Ambassador to Iraq Matthew Tueller reads a The Forum was organized by the letter from Vice President Michael Pence addressed to Forum participants. USAID-funded Iraq Governance and Performance Accountability (IGPA)/Ninewa Investment Facilitation Initiative (NIFI) and was the first investment forum of its kind in a region still recovering from the devastation of Islamic State occupation. Highlights of the Ninewa Investment Forum include: • A total of 943 individuals requested registration to the Forum, of which more than 300 were approved, limited only by the capacity of the venue. In the final count, 369 individuals participated, including investors, fund managers, and business executives from the United States, Europe, and the Middle East. The initial target was to host 200 participants. • The Forum featured 19 small and medium enterprises (SME) from Ninewa province and 24 international investors, including Chaldean diaspora investors, that came together to discuss investment opportunities. The featured SMEs received Business 5 | Ninewa Investment Forum Final Report Development Services from IGPA/NIFI prior to the Forum to help them prepare for match making meetings with investors. • More than 100 SMEs from Ninewa province and the Kurdistan Region of Iraq (KRI) attended the Forum. • In his keynote speech, Ambassador Matthew Tueller dispensed with his prepared remarks to read a letter sent by US Vice President Michael Pence addressed to Forum participants. USAID Mission Director Dana Mansuri speaking on the role of the private sector in driving the rehabilitation and development of Ninewa province. • Eight panel sessions featuring subject matter experts offered substantive discussions on relevant topics. • 31 matchmaking meetings were conducted between international investors and featured SMEs. The meetings generated interest in many businesses and investors asked to follow up and sign non-disclosure agreements (NDA). • The SME Marketplace served as a networking hub for the 19 featured SMEs and four women-owned enterprises that were showcased, facilitating a further eight networking meetings and expressions of interest between investors and SMEs. • The IGPA/NIFI Business Development Center (BDC) that was set up at the Forum received 86 applications for Business Development Services, thus expanding the project’s demand-driven pipeline development. • Eight organizations and six media entities were engaged as supporting partners, providing the Forum with institutional support in reaching qualified participants and 6 | Ninewa Investment Forum Final Report attaining wide publicity. Supporting partners included: American Chambers of Commerce Iraq, Board of Investment - Kurdistan Regional Government-Iraq, Iraq Middle Market Development Foundation, Iraq Private Banks League, Iraqi Federation of Industries-Ninewa Chamber of Industries, Ninewa Investment Commission, US- Iraq Business Council, and Yazda (Global Yazidi Organization). Supporting media organizations included Alghad Radio, Ezidi24, Iraq Media Network, Kirkuk Now, Rudaw, and Sama al-Mosul. • 14 local and international media organizations provided extensive coverage to the three-day event, including live streaming of the conference proceedings. Social media posts generated more than 43,000 views, while YouTube videos accumulated 418 views for English videos and 970 views for the Arabic version as of December 7, 2019. 7 | Ninewa Investment Forum Final Report INTRODUCTION The USAID-funded Iraq Governance and Performance Accountability/Ninewa Investment Facilitation Initiative (IGPA/NIFI) conducted the Ninewa Investment Forum on December 3-5, 2019 in Erbil, Kurdistan Region of Iraq (KRI). The Forum was one of IGPA/NIFI’s three main tasks designed to support the recovery of the private sector as a means to improve the economy and livelihoods of the people of Ninewa province who were most affected by the Islamic State occupation. The Forum featured representative businesses that were ready for growth and expansion and had the potential to offer robust ventures for domestic and international investors. From working with the provincial and district governments of Ninewa province, relevant ministries of the Government of Iraq (GOI), businesses organizations,