Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. In a ceremony at Iraq's giant Al Faw Grand Port in Basra on Thursday, South Korea's Daewoo has handed over five new berths to the Iraqi state. The port is a key part of the planned Development Road project, which will connect the Persian Gulf with the Mediterranean Sea via Iraq and […]
By John Lee. Iraq's Minister of Industry and Minerals, Dr. Khaled Battal Al-Najm, supervised final preparations for the Basra steel plant, expected to begin operations by the end of this year. During his on-site visit, the minister oversaw the plant's final cold start-up phases, which utilize advanced technology from Italy's Danieli Group for steel and […]
Iraq Business News Expert Blogger, Ahmed Tabaqchali, has just published his thoughts on Iraq's budget, for the Atlantic Council. Delving beneath the surface of Iraq's budget framework, he uncovers how the 2024 tables both mirror and diverge from their 2023 counterparts. In essence, the budget's three-part examination sheds light on a disconnect between the projected […]
By John Lee. Iraq's Council of Ministers has approved a direct contract with the Chinese company SANY to purchase 18 specialized firefighting vehicles. It also decided to exempt this contract from standard government contracting instructions and Decision No. 68 of 2016, as amended. (Source: PMO)
By John Lee. The International Chamber of Commerce (ICC) in Iraq has reportedly established a local arbitration committee, aimed at minimizing financial losses from external arbitration and attracting foreign investors. Mohsen Al-Humaidawi [Mohsin Al Hamed], Head of ICC Iraq, told the state-run Iraqi News Agency (INA) that the new committee, announced at the International Trade […]
By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani has directed new measures to develop electronic payment systems. The initiative includes expanding salary payments to private sector employees through digital channels, similar to government payroll, with the Ministry of Labor and the Central Bank of Iraq (CBI) collaborating on the framework. Additionally, all ministries and […]
By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani has directed an accelerated shift from paper to digital transactions within the customs system as part of a key economic reform. During a meeting to review the detailed plan for the second phase of customs automation, Al-Sudani emphasized the need to complete fiber-optic connections across all […]
By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani has inaugurated the Mansour and Mustaqbal pharmaceutical factories, supporting a national initiative to increase self-sufficiency in medicine production. The Mansour facility, now reactivated, will produce 14 million therapeutic syrups, 140 million tablets, and specialized treatments for cancer. The Mustaqbal facility will manufacture over 300 drug types, […]
By John Lee. Iraq's Undersecretary of the Foreign Ministry for Political Planning, Ambassador Dr. Hisham Al Alawi, received the Ambassador of the Netherlands to Iraq, Ms. Janet Alberda, on 27th October to discuss a number of issues of common concern between the two countries. From a business perspective, the main points of the meeting between […]
By Dr. Zmkan Ali Saleem, Dr. Hussein Mishbak and Karam Robeil, for the Institute of Regional and International Studies (IRIS) at the American University of Iraq, Sulaimani (AUIS). The opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Economic Review: KRG's Financial Conundrum | Iraq's […]
By John Lee. Iraq's Ministry of Electricity and US-based GE Vernova has announced the completion of five key substations ahead of schedule. According to a statement from GE Vernova, rhe five substations-Al Hindia, Al Sader, Al Qaim Saada, North Baqubah, and Yaramja South-will support more stable electricity distribution across Iraq. North Baqubah and Yaramja South […]
By John Lee. Prime Minister Mohammed S. Al-Sudani chaired a committee meeting to evaluate the progress of agreements and memoranda of understanding with Türkiye, signed during the Turkish President's visit to Baghdad in April. Key topics included water resource infrastructure projects under the Strategic Framework Agreement, emphasizing cooperation based on fairness and good neighborliness. The […]
