By John Lee.
Iraq's Council of Ministers has approved the establishment of the National Mobile Telecommunications Company (NMTC), which will operate Iraq's 5G national license in cooperation with UK's Vodafone Group.
The initiative aims to develop the telecommunications sector, maximize revenues, and implement the government program.
The new company will be a private limited entity under the Companies Law No. 21 of 1997 (as amended), with equal ownership by:
- Al-Salam General Company (Ministry of Communications)
- National Board of Pension / State Pension Fund
- Trade Bank of Iraq (TBI)
Each entity will contribute one-third of the capital as a long-term investment. The Council of Ministers will oversee key corporate decisions, including shareholding amendments, public offerings, and strategic planning.
The Minister of Communications has been assigned to supervise implementation and provide regular progress reports.
(Source: PMO)
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