$40bn Investment Opportunity in Domestic Iraqi Production
By John Lee. The Iraq Development Fund has identified investment opportunities worth $40 billion in goods currently imported into the country that could instead be produced domestically. Mohammed al-Najjar (pictured), head of the fund, told the state-run Iraqi News Agency (INA) that Iraq's annual import bill provides a measure of the scale of the opportunity, […]
Iraqi Port Activity Up 20% in 2025
By John Lee. Iraq's ports recorded strong financial and commercial growth in 2025, according to an annual statistical report published by the Statistics and Geographic Information Systems Authority of the Ministry of Planning. Key indicators for the General Company for Ports of Iraq (GCPI) showed: Total revenues of IQD 1,100.7 billion ($840 million), up 20.5% […]
China Supplies 15 Boats and 3 Ferries to Iraq
By John Lee. The State Company for Marine Transport (SCMT) has taken initial delivery of 15 new boats and three ferries under a contractual agreement with China. The fleet includes modern tourist boats, two passenger ferries with a capacity of 200 passengers each, and a large multipurpose ferry capable of carrying 500 passengers and 80 […]
CBI Pushes E-Payment Firms on Digital Expansion
By John Lee. The Central Bank of Iraq (CBI) has held a meeting with licensed electronic payment companies in Iraq to advance the development of the national payments system and promote financial inclusion. According to the CBI, the governor emphasised that e-payment firms must raise the quality, efficiency, and reliability of their services to build […]
Iraq Opens First Solar Module Factory in Karbala
By John Lee. Iraq's first industrial-scale photovoltaic (PV) solar module manufacturing facility has opened in Karbala. The Al-Nour Solar Panel Production Plant was developed for the Project Engineering Department of the Al-Abbas Holy Shrine by Italian firm Ecoprogetti Srl, which supplied and installed the complete turnkey production line. The facility has an annual installed capacity […]
New Easy-Payment Scheme for Iraqi State Employees
By John Lee. Iraq's General Company for Building Materials Trading has launched a direct sales and instalment scheme under an initiative called "Al-Taaoun lil-Insha'iya" (Cooperation for Construction), allowing state employees and retirees to purchase building materials, furniture, and household electrical appliances on instalment terms of up to 15 months, with no guarantor or down payment […]
Iraq Struggles to Meet Power Demand; Drop in Iranian Gas Imports
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Struggles to Meet Power Demand amid Drop in Iranian Gas Imports The Iraqi government is producing less than half of the country's electricity needs despite scorching summer temperatures, a shortfall officials partly attribute […]
IBPL Welcomes Banking Update, Expects Stable Dinar
By John Lee. The Iraqi Private Banks League (IPBL) has welcomed the recent announcement that seven Iraqi private banks are to regain access to foreign currency correspondent banking channels (excluding the US dollar). The announcement followed high-level talks between the Central Bank of Iraq (CBI) and officials at the US Treasury. An IBPL statement described […]
Iraq Opens Door to Foreign Bank Branches for Investment Finance
By John Lee. The opening of foreign bank branches in Iraq will help fund investment projects, ease banking operations for foreign companies, expand financing channels, and transfer modern banking expertise, according to Finance Minister Faleh Sari. Sari made the remarks following a meeting between a government delegation led by Prime Minister Ali al-Zaidi and representatives […]
Iraqi WTO Accession Talks in Geneva
By John Lee. A delegation from Iraq's Ministry of Trade has held a series of formal meetings with officials from the World Trade Organization (WTO) in Geneva to discuss the advanced stages of Iraq's accession process. According to the ministry, the delegation met with the WTO's deputy director-general, the chair of the working party on […]
10 Key Takeaways from PM Al-Zaidi's Washington Visit
By Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. 1. A historic volume of agreements - 48 in total A total of 48 agreements, memoranda of understanding, cooperation agreements and partnership declarations were signed between public and private sector entities in Iraq […]
Halliburton Wins Contract for Nahr Bin Umar and Sindbad Fields
By John Lee. Basra Oil Company (BOC) has awarded a contract to US company Halliburton to provide Integrated Field Management Services (IFMS) and Engineering, Procurement, and Construction Management (EPCM) for the Nahr Bin Umar oil field and Sindbad oil and gas fields in southern Iraq. The contract scope includes field development planning, production optimisation, digital […]