Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. Iraq's Minister of Trade, Mr. Atheer Al-Ghareeb, recently met with a delegation from Toyota Iraq to discuss suitable ways and mechanisms to strengthen cooperation with Toyota. During the meeting, the Minister emphasized the ministry's eagerness to collaborate with automotive companies, including Toyota. This collaboration extends to successful partnership contracts and investments with […]
By John Lee. Prime Minister Mohammed Al-Sudani met with a group of Iraqi businesswomen at the weekend, affirming the government's determination to support women in business. Al-Sudani said that reforms in the financial and banking sectors have prioritised supporting the business sector for women and providing employment opportunities for Iraqi women in the private sector. […]
By John Lee. The International Finance Corporation (IFC), Iraq Venture Partners (IVP), and Innovest Middle East have created a new initiative that aims to address the challenges faced by entrepreneurs in Iraq. A statement from IFC said the new program, "Scale Iraq (#ScaleIraq)", will support 20 startups, addressing their specific needs and gaps, esigning and […]
By John Lee. The Iraqi President, Abdul Latif Jamal Rashid, met with a delegation led by Spain's Minister of Foreign Affairs José Manuel Albares at Baghdad Palace on Thursday. Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein also attended the meeting. President Rashid emphasized the importance of working together to strengthen relations between […]
By John Lee. Judge Haider Hanoun, head of the Federal Integrity Commission in Iraq, called on all countries, especially those parties to the United Nations and Arab anti-corruption agreements, to unite, cooperate, and combine efforts to mitigate the danger of corruption. He emphasized that corruption has become a phenomenon crossing national borders, and modern methods […]
By John Lee. US President Joe Biden has announced his intent to nominate Tracey Ann Jacobson (pictured) as Ambassador to Iraq. If approved by the Senate, Ms Jacobson will take over the role from Alina L. Romanowski, who has served in the post since June 2022. In a statement from The White House, Tracey Jacobson […]
By John Lee. The International Organization for Migration (IOM) and the Government of Germany, through the KfW Development Bank, have launched the sixth phase of their ongoing partnership, aiming to create 1,100 new jobs in small and medium-sized enterprises (SMEs) in Iraq, via its Enterprise Development Fund (EDF) component. The program provides financial capital to […]
By John Lee. Iraq's Commission of Integrity has arrested the General Manager of the Iraqi Cement Company and the director of a private company on charges of bribery. The arrests followed a tip-off from an investor who claimed to be a victim of extortion, having been asked for a sum of $500,000 in exchange for […]
By John Lee. The International Finance Corporation (IFC), part of the World Bank Group, is investing in Al-Douh Iraqi Company for Cement Industries ("Al Douh"), a leading cement manufacturer and part of Al-Riyadh Investment Companies Group (RICG). According to a statement from the IFC, the decision was made to help boost economic diversification and spur […]
By John Lee. Erbil Chamber of Commerce and Industry has reportedly issued a statement urging traders in the Kurdistan Region of Iraq to "suspend" the purchase of Iranian products in protest of the Islamic Revolutionary Guard Corps (IRGC) missile strikes on a private residence in Erbil. The attacks killed at least four civilians, including two […]
UNDP continues to support the Government of Iraq in ending corruption and boosting foreign investment The UN Development Programme (UNDP)'s Anti-Corruption and Arbitration initiatives (ACAI) is achieving significant milestones midway through its five-year implementation. Funded by the European Union (EU), the project recently conducted its second steering committee on Sunday, January 21, at the State […]
By John Lee. Iraqi budget airline Fly Baghdad has suspended operations until further notice, following the imposition of sanctions by the United States earlier this week. It said the move was in compliance with a decision of the Iraqi government. The airline added that due to the freezing of its bank accounts, it is unable […]
