Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. According to figures from the Kurdistan Regional Government (KRG), 6,168,000 tourists visited the Kurdistan Region in 2022, an increase of nearly 2 million on the 2021 figure of 4,189,569. The statistics of tourists by region in 2022 are as follows: Erbil province: 2,752,000 tourists; Sulaimani province: 2,545,156 tourists; Duhok province, 2,340,000 tourists. […]
By Guest Blogger: Your Comprehensive Guide to Business in Iraq: What's Happening Today? Business in Iraq has been growing steadily in recent years. From a standing start in 2003, the Iraqi economy has seen a remarkable transformation, with the private sector playing an increasingly important role in the country's overall economic development. Despite the ongoing […]
The Kurdistan Regional Government (KRG) has announced that the registration of the companies will be digitised, in order to reduce the cost of registration and to save time. According to a press release from the KRG, this facility is expected to increase number of companies registered in the Kurdistan Region. Blnd Mohammed, Director General of […]
By John Lee. The Iraqi Cabinet has agreed a package of measures aimed at propping up the value of the Iraqi dinar, following continued downward pressure on the currency relative to the dollar: All government agencies are required to sell all goods and services inside Iraq based on the Central Bank USD exchange rate of […]
From the United Nations Conference on Trade and Development (UNCTAD): The number of people registering businesses in Iraq through the country's online portal has steadily grown over the past year. In November 2022, over 275 companies were registered through business.mot.gov.iq - more than five times the number recorded during the first month after going live […]
By John Lee. The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated critical nodes of a key financial facilitation network of the Islamic State of Iraq and Syria (ISIS), which included four individuals and two entities in Türkiye, who have enabled the terrorist group's recruitment and financial transfers to and from […]
The Kurdistan Region is moving from the import stage to the export stage, and diplomatic relations will be used for this purpose. Currently, pomegranate exports to the Gulf countries continue and the opening of export routes of Kurdistan products to foreign markets is an important step in supporting domestic production. Jalil Salihi, the supervisor of […]
By John Lee. Iraq's General Company for Food Products, which is owned by the Ministry of Industry and Minerals, has signing of a partnership contract with a local company called "Allied", to rehabilitate Abu Ghraib dairy factories and add new lines and products. The agreement aims to develop the yogurt industry in accordance with modern production, […]
From the Kurdistan Regional Goverment: According to the strategic program set by the Kurdistan Regional Government (KRG), by the end of 2025, all services in Kurdistan will be managed digitally and electronically and no paper will be used. The Prime Minister's vision for the issue of digitalization of government institutions and services has been made […]
By John Lee. The Iraqi government has approved the recommendation of the Ministerial Council for Energy (59 of 2022) to build a new 200-MW solar power plant in Karbala governorate. The decison was made at this week's cabinet meeting, chaired by Prime Minister Muhammad Shia Al-Sudani. In December 2021, the Cabinet approved a the contract […]
By Laure Al Khoury and Salam Faraj for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. In Iraq, graft helps push property prices out of reach Real estate in Iraq has become a popular way to launder money, including stolen public […]
By John Lee. Iraq's Ministry of Planning has announced new population data for Iraq. According to its Central Statistical Organization (CSO), Iraq's total estimated population of Iraq is now 42,248,883 -- an increase of 2.5 percent on the previous year. Males account for 50.5 percent, females 49.5 percent; Births during the past year were 1,310,894; […]
