Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. The Iraqi National Investment Commission (NIC) has announced that it has received 17 proposals from foreign, Arab, and local companies for a waste management and electricity generation project (waste-to-energy) in Baghdad. This announcement followed a meeting of the commission tasked with assessing the proposals. Dr. Mona Al-Jabri, the commission's renewable energy consultant, […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Halabja locals protest Iraq's border fence with Iran The Iraqi government's decision to close the border with Iran by setting up a fence has sparked protests from locals who fear the decision will negatively […]
By John Lee. Iraq's Minister of Finance, Taif Sami (pictured), inaugurated the Customs Automation Project as Umm Qasr Port on Sunday. The project aligns with the requirements of the global Automated System for Customs Data (ASYCUDA), forming part of the Ministry's strategy to apply international customs standards. The system's implementation aims to achieve financial discipline, […]
By John Lee. An International Monetary Fund (IMF) mission met with the Iraqi authorities in Amman during February 20-29 to conduct the 2024 Article IV consultation. Some key data from their report: Economic Growth: Non-oil GDP growth: 6% in 2023. Overall growth projected to rebound in 2024. Inflation: Declined from 7.5% in January 2023 to […]
By John Lee. Ziad Ali Fadel, the Minister of Electricity, presided over the signing of a memorandum of understanding for the second phase with the Japanese company Toyota [Toyota Tsusho], aimed at enhancing the networks and capabilities of electrical system. The Japanese Ambassador to Iraq was also present at the signing ceremony. According to the […]
By John Lee. Iraq's Minister of Electricity has held discussions with a delegation from the Emirati company AMEA Power, which specialises in renewable energies. During the meeting, they reviewed the current status of Iraq's electrical system and the government's efforts to enhance service quality and reliability through strategic projects. The Minister welcomed Emirati companies interested […]
By John Lee. A delegation from the Egyptian company Egytrafo, which specialises in manufacturing electrical transformers, met this week with Ziad Ali Fadel, the Iraqi Minister of Electricity. During the meeting, which was also attended by the Chargé d'Affaires of the Egyptian Embassy in Iraq, they discussed mutual cooperation between Iraq and Egypt, emphasizing the […]
By John Lee. The board of Iraq's Industrial Cities Authority has discussed the establishment of an integrated industrial city for iron and steel production at the site of the State Company for Iron and Steel (SCIS) in Basra, as part of the Basra Economic Capital project. The industrial city will integrate sponge iron [direct reduced […]
By John Lee. An Iraqi delegation, led by Finance Minister Taif Sami Mohammed, held discussions with IMF experts during the fourth Article IV consultations, held in Amman, Jordan, from February 27 to 29. Discussions centered on Iraq's reform program, focusing on fiscal and banking policies, digital infrastructure, financial inclusion, public debt issues, and measures to […]
By John Lee. During a meeting on Tuesday between Iraqi Prime Minister, Mohammed Shiaa Al-Sudani, and Armenian President, Vahagn Khachaturyan, Al-Sudani pointed out significant investment opportunities, particularly in the development of infrastructure such as the Development Road project and the Grand Faw Port, along with associated projects. Al-Sudani proposed the establishment of a joint forum […]
By John Lee. The Ministerial Council for the Economy, chaired by Minister of Foreign Affairs Fouad Hussein, has approved a request from the Ministry of Agriculture to reduce customs duties on live animals imported for slaughtering and breeding purposes. According to the state-run Iraqi News Agency (INA), the decision was taken due to the high […]
By John Lee. Iraqi Prime Minister Mohammed Shiaa Al-Sudani chaired a meeting on Monday focused on reviewing and improving the performance of Iraqi Airways. Discussions included aircraft maintenance and repair, with directives to finalize repairs by the end of the year. Additionally, plans to increase and train airline crews were addressed to elevate service standards. […]
