Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. Iraqi Prime Minister Mohammed Shiaa Al-Sudani has received a delegation of Egyptian businessmen and investors specializing in infrastructure projects, the housing sector, and the pharmaceutical industry. Mr. Al-Sudani welcomed the delegation, affirming Iraq's keenness to sustain bilateral cooperation with Egypt and its private sector, and to expand its horizons in various fields. […]
By John Lee. British oil and gas company Shell has withdrawn from the proposed $11-billion Nebras [Nibras] petrochemical project in Basra. According to Argus Media, the company said it made the decision, "after in-depth evaluation on the feasibility of the Nebras integrated petrochemicals complex with our government partners." The company added: "This decision is in […]
From Five One Invest. Re-published with permission by Iraq Business News. Over the past few years, Five One Invest has worked closely with Iraqi founders and investors. The major complaint from growth-stage startups is that investors in Iraq are risk-averse and do not know "venture investing." On the other hand, investors emphasize that there is […]
From the Iraq Britain Business Council (IBBC): IBBC's inaugural Agritech Committee confirms commitment and project focus for pilot. IBBC held its first inaugural committee meeting at the Royal Overseas League on 13th February, chaired by Dr Amet Selman of AAA Holding. The broadly based committee included appointees from all areas of business and government: members […]
By John Lee. The Media Office of the Iraqi Prime Minister has confirmed that the Malaysian company HSS Engineers will be the approved consultant to the two newly-announced major projects, the Baghdad Metro and the Najaf-Karbala Express Train. Tenders for the construction of these projects were announced in recent days. More here and here. Full […]
By John Lee. The Iraqi Cabinet has revoked a decision to relocate its consulate general from the Turkish city of Gaziantep to the province of Mersin. It said the decision came as part of "diplomatic organization efforts," but provided no further information. (Source: Media Office of the Prime Minister)
By John Lee. Iraq is to appoint a commercial attaché to the African continent. The role, approved at Wednesday's cabinet meeting, will be based in South Africa. (Source: Media Office of the Prime Minister)
By John Lee. On 6 February 2024, the Kurdistan Regional Government's Prime Minister, Masrour Barzani, welcomed James Goldman, the newly appointed British Consul General to the Kurdistan Region. Prime Minister Barzani extended his congratulations to Consul General Goldman on his new role and emphasised the KRG's commitment to advancing bilateral ties between the two regions. […]
By John Lee. Iraqi company Muhaj Baghdad has awarded Italy's Danieli the contract to build a new rolling mill plant for rebar production. The plant will be located in the industrial area of Al-Hilla near Baghdad and will have a capacity of 500,000 tons per year. According to a statement from Danieli, the plant will […]
By John Lee. Iraqi Foreign Minister Fuad Hussein has called on the US Treasury Department to reconsider its recent imposition of sanctions on Iraqi banks. During a phone call from the US Secretary of State, Antony Blinken, Minister Hussein explained that these banks have, "an important and major role in financing ration card expenses and […]
By John Lee. Transparency International has said that Iraq has improved its ranking, and maintained its score, in the global Corruption Perceptions Index (CPI) for 2023. From a total of 180 countries, Iraq came in at number 154, up 3 places on the previous year. This result puts it on equal ranking with Honduras, Azerbaijan […]
By John Lee. A committee of the Ministry of Industry has approved a plan to build an industrial city at the site of the General Company for Iron and Steel in Basra. According to a statement from the Ministry, the new development will be built in collaboration with a Chinese company, and based on the […]
