An investment delegation from the Korean company Hyundai, specialized in establishing and equipping oil-fired power plants, visited Anbar province on Tuesday to discuss proposals for investment in the province, according to a report from AKnews. Wissam al-Rawi, the head of the Energy Committee of Anbar Council, said that the council discussed investment with the Hyundai […]
An economic adviser to the Iraqi government, Salam al-Qoraishi, said Iraq and Syria had agreed in principle to extend a pipeline with a capacity of 1.7 million barrels through Syrian territories to export Iraqi oil to the Syrian ports on the Mediterranean Sea, according to AKnews. Iraq is currently linked to the Turkish port of […]
In a letter to the Editor of the Washington Times, Harry Schute Jr., a retired U.S. Army Reserve colonel with extensive experience in Iraq, and currently a consulting adviser to the Kurdistan Regional Government (KRG), says American firms are missing out on opportunities in Iraqi Kurdistan. Of the 850 international firms taking part in the […]
The United Nations Industrial Development Organization (UNIDO) will launch in January a EUR 3 million technical cooperation project in Iraq to develop industrial zones and enhance investment in the country. The two-year project will be funded by the Government of Italy, and implemented in coordination with the World Bank. An agreement on the funding was […]
Iraqi representative to the Arab League, Dr. Qais al-Azzawi, said that a branch of the Arab Economic Union will open in Baghdad in the near future, according to AKnews. Following a meeting on Sunday with Ambassador Mohamed al Rabie’, the General Secretary of the union, Al-Azzawi told AKnews that the opening of the office represents […]
These two reports date from December 2009, but are still worth reading by anyone who is interested in the investment climate in the country. Iraq Business News has been in contact with the National Investment Commission (NIC) regarding updates to these reports, and we will keep our readers informed as soon as new documents are […]
Works are underway to build a waste-recycling plant in al-Muthanna at a cost of $151 million [177 billion Iraqi dinars], according to the province’s investment commission chairman on Sunday. “The project stands over an area of 30 donums [7.5 hectares] and should be finalized in 13 months,” Adel Dakhil al-Yasseri told Aswat al-Iraq news agency. […]
3.8 billion Iraqi dinars [$3.2 million] has been allocated to a number of service projects in Erbil, its Governor, Nawzad Hadi, said on Saturday. “A local contracting company embarked on works to pave 22-km-long roads in Arbil al-Jadida area, eastern Erbil, at a cost of 1.3 billion dinars, earmarked from the Provincial Development Budget for […]
The Brookings Institution in Washington DC has issued a new report entitled "Unfinished Business: An American Strategy for Iraq Moving Forward". Ignoring the gratuitous use of the term 'moving forward' in the title, it's a thought-provoking read. The executive summary is shown below, and the full report can be downloaded from the Brooking Institution by […]
MOL Hungarian Oil and Gas has informed the markets that, further to its recent notification on 8 November 2010 on the test results, it has submitted the Discovery Report on the Bijell-1 exploration well to the Ministry of Natural Resources of the Kurdistan Region of Iraq. As previously announced, 3,743 bbl/d 13° API oil and […]
Iraq's Minister of Water Resources, Abdul-Latif Jamal Rashid, has laid the corner stone for the 350 billion dinar [$300m] Shatt al-Arab Canal project, aimed at pumping pure water for Basra Province and irrigation water for 250,000 donums of agricultural lands, according to a report from Aswat al-Iraq. Iraq’s Prime Minister, Nouri al-Maliki, had launched a […]
The head of Germany's academic exchange service this week signed an agreement in Erbil with Salahaddin University to establish a German Language Department at the university. Dr Dorothea Rüland, Secretary General of the German Academic Exchange Service (DAAD), came to Erbil to make the agreement and gave a keynote address at an academic conference attended […]
