Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. The Iraqi Ministry of Oil and its subsidiary, the Oil Products Distribution Company, have decided to implement electronic payment systems at all fuel stations starting January 1, 2024. The Ministry says it will also suspend cash handling from this date, adding that this move aligns with government guidelines to enhance efficiency, automate […]
By John Lee. On Sunday, November 19, 2023, the Kurdistan Regional Government's Prime Minister, Masrour Barzani, officially inaugurated the Distar Factory, a cutting-edge wheat flour mill, located in Domiz, Duhok Governorate. During his speech, Prime Minister Barzani emphasised the KRG's dedication to enhancing the agricultural sector and securing food security as top priorities. He outlined […]
From the International Labour Organization (ILO): ILO's groundbreaking afforestation project in Kurdistan Region of Iraq boosts sustainable development and decent work The initiative, funded by the Government of the Netherlands under the PROSPECTS Partnership, aims to address climate challenges and create over 700 short-term jobs for local Iraqis, internally displaced persons (IDPs), and Syrian refugees. […]
By John Lee. The UK's Department for Business and Trade has said that total trade in goods and services (exports plus imports) between the UK and Iraq was £1.1 billion [$1.38 billion] in the four quarters to the end of Q2 2023, an increase of 54.2% or £391 million in current prices from the four […]
By Aziz Al Nassiri. This document explains the Iraqi University Ecosystem (IUE) project Introduction: The business environment in Iraq is one of the most challenging in the region. Instability, lawlessness, corruption, absence of development plans, flight of capital, brain drain, diminution of the middle class, rentier economy, rapid population growth, global warming, Fourth Industrial Revolution. […]
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 […]
