Iraqi companies arrive in Virginia

"When we initiated this conference, we invited leaders from politics, business, and companies which have been awarded contracts to create a platform for the reconstruction and relief effort in Iraq. We never imagined when we were planning our Forum that it would become so central to the current reconstruction of Iraq," said Farajallah.

"In recent weeks, a number of Iraqi consortiums founded by Iraqi expatriates whom are encouraged by the regime change and who are now free to go back to the country they fled once, hoping for a role in the rebuilding and relief effort in Iraq" he said.

"The Iraqi business community realizes, that they are at a unique moment for Iraq; and they recognize it's time for them and the region at large to build a new Iraq. It is up to those who come to this 2-days conference to play their part in this historic opportunity," he explained.

"The participation of Iraqi and regional companies, is critical to the success of Iraqi reconstruction and therefore will play a vital role in facilitating the stability of the Middle East." Farajallah added.

Farajallah confirmed that quite number of leading Iraqi and other regional companies have registered to attend the conference in addition to companies from the US.

In addition, the new Middle East Partnership which has been highlighted last May by president Bush to Promote economic opportunity in the region has intensified the interest of American companies in Iraq.

Rebuilding and relief effort in Iraq presents billions in contracting opportunities. It is estimated that nonmilitary rebuilding costs could near $ 500 billion.

Subcontracting opportunities will be substantial. The Capital Construction Solicitation provides that 10 percent of the work must be performed by the contractor's own staff.

The U.S. Agency for International Development evaluation scheme for selecting prime contractors provide for evaluation credit for bidders who make a substantial effort to include small business, disadvantaged small business, women-owned business, and historically underutilized business zone companies in their contracting teams.

Foreign firms could bid on subcontracts for U.S. funded reconstruction projects in Iraq. It's estimated that some 50 percent of U.S. reconstruction funds could go to foreign subcontractors.

"All companies are invited, It is not just for giants, smaller companies can look for to participate in the most important event of the year. Rebuilding Iraq Conference." New Fields President said.