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In mid-2004, with the country in turmoil, the Iraq Stock Exchange reopened out of a tent in a former hotel restaurant. Trading was unsurprisingly limited, but the move was evidence of the fact that creation of a bourse is regarded as a crucial plank of economic reform and development. And several of the region’s less open economies are looking at the creation or enhancement of a local stock exchange to promote inward investment and private sector creativity. The move is well timed, with investors worldwide scouting out profitable new emerging market opportunities.