Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. On Sunday, November 19, 2023, Prime Minister Masrour Barzani of the Kurdistan Regional Government (KRG) launched two pivotal projects in Zakho: an industrial area and a recycling factory. In his speech, Prime Minister Barzani emphasised the projects' roles in job creation and economic growth in the Kurdistan Region. The recycling plant, the […]
The ILO, the Central Bank of Iraq and partners celebrate success of the financial Inclusion Initiative for MSMEs under the PROSPECTS Programme [EN/AR] Hundreds of loans have been disbursed to aspiring entrepreneurs and existing MSMEs through the project, contributing to the creation and retention of more than 1,200 job opportunities for Iraqi host communities and […]
By Dr. Layth Mahdi. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Without Change, There Is No Hope for Iraq I am a senior citizen that wants to contribute the last chapter of my life helping to rebuild Iraq. Despite all my efforts, I […]
From Tasnim, under a Creative Commons licence. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iran's oil minister and the electricity minister of Iraq emphasized the need for enhancing bilateral ties in the field of energy. Iraq's visiting Minister of Energy Ziad Ali Fazel […]
By John Lee. According to a statement from the KRG, on the third day of the 5th International Trade Fair for Industry and Construction in Erbil, business opportunities are flourishing. It says a total of 210 companies, from 10 different countries, are actively participating in the fair, with 38 of them being Kurdish and Iraqi […]
By John Lee. Iraq has become the latest member of the European Bank for Reconstruction and Development (EBRD). The bank recently approved amendments to its statutes to enable the limited and incremental expansion of its operations to Iraq. Full statement from EBRD: Iraq has become the latest member of the European Bank for Reconstruction and […]
By John Lee. The United States has reportedly issued a new waiver allowing Iraq to pay Iran for electricity. According to Reuters, the waiver lasts for 120 days. While not directly confirming the waiver, US State Department spokesperson Matthew Miller told a press briefing on Tuesday: "So I don't have a comment to give on […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani has opened the largest private poultry project in Iraq, located in Karbala. With an annual production capacity exceeding 3 billion eggs and 340,000 tons of meat, the project aims to meet local market demands. During the opening, Prime Minister Al-Sudani emphasized the project's role in achieving self-sufficiency, […]
By John Lee. Iraq's Finance Minister, Taif Sami, has signed a financing agreement for the maintenance of the Ministry of Electricity's power stations with JPMorgan, in partnership with General Electric (GE). The $257 million loan, guaranteed by the US Export-Import Bank (EXIM), is part of the fifth phase of the annual maintenance project. The agreement […]
By John Lee. On Sunday, the President of the Republic of Iraq, Abdullatif Jamal Rashid met with the Saudi Commerce Minister and Head of the Saudi-Iraqi Coordination Council, Majid al-Qasabi alongside a group of Saudi businessmen. At the meeting, President Rashid urged Saudi businessmen to invest in Iraq, assuring government support and facilities for investors. […]
By John Lee. The Central Bank of Iraq (CBI) has reportedly made agreements to support several private Iraqi banks with foreign currency. State-run Iraqi News Agency (INA) quotes a government source as saying that, following meetings in Abu Dhabi with US officials, it has been agreed, "to boost the advance balance of five Iraqi banks […]
By John Lee. Turkmenistan will supply Iraq with 9 billion cubic meters of natural gas per year for five years, according to a deal agreed in Ashgabat on Wednesday. The gas will be transported via Iran in what state-run Turkmengaz describes as a swap scheme. Iraq's Ministry of Electricity confirms the meeting, but makes no […]
