CBI to Launch New Initiatives for Money Exchange
By John Lee. New initiatives are planned to expand the activities of money exchange companies in Iraq and create additional revenue opportunities, according to the Central Bank of Iraq (CBI). Nizar Nasser Hussein, Governor of the CBI, met with a number of directors and board chairs of money exchange companies to discuss ways to develop […]
Iraq and Germany in Talks Over Joint Industrial Fund
By John Lee. Iraq's Prime Minister Ali al-Zaidi held a phone call with German Chancellor Friedrich Merz on Wednesday, covering bilateral relations and cooperation across economic, trade, investment, and migration sectors. According to the Prime Minister's Office, al-Zaidi expressed Iraq's interest in expanding economic ties and attracting German companies to invest in the country. He […]
Development Road Project: Iraqi PM calls for Rigour
By John Lee. Progress on the Development Road project was discussed during a meeting in Baghdad between Prime Minister Ali al-Zaidi and Turkey's Minister of Transport and Infrastructure, Abdulkadir Uraloğlu. According to the Prime Minister's Office (PMO), Al-Zaidi called for a clear mechanism to be established for financing and implementing the project, with practical steps […]
Iraq-Syria Oil Pipeline Set for European Exports
By John Lee. A planned oil pipeline linking Haditha in Iraq to Baniyas on the Syrian coast is intended to serve as a strategic export route to European markets, according to the Syrian Petroleum Company (SPC). The project is expected to take between two and two-and-a-half years to complete. Safwan al-Sheikh Ahmad, Director of Communications […]
GE Deal to Boost Iraq's Power Generation Capacity
By John Lee. Iraq has signed an agreement with GE to implement a comprehensive plan for securing the country's energy supply. The deal was signed in Washington by Minister of Electricity Ali Saad Wahib, under the auspices of Prime Minister Ali al-Zaidi. According to the Ministry of Electricity, the agreement covers an integrated national programme […]
PepsiCo Signs Agreements with Iraqi Partners
By John Lee. PepsiCo has reportedly signed two strategic agreements with Iraqi partners covering expanded beverage manufacturing and agricultural development. The agreements were signed at the US-Iraq High-Level Business Summit at the US Chamber of Commerce in Washington DC, on the sidelines of Prime Minister Ali al-Zaidi's visit to the United States. The first agreement, […]
Iraq Private Banks League and GIZ Sign Financial Sector MoU
By John Lee. The Iraqi Private Banks League (IPBL) has signed a memorandum of understanding (MoU) with Germany's Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), establishing a strategic framework to support the development of Iraq's financial and banking sector and promote sustainable economic growth. The MoU was signed by Ali Tariq, Executive Director of the Iraq […]
$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 […]