Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
The Basra Investment Commission has approved six projects from Iraqi and Arab investors in the areas of housing, industry and tourism. The projects include construction of a $9.7m (11.3bn IQD) ready-mix concrete plant and a $9m (10.5bn IQD) plant for producing construction thermostone (isolating cement material). Other projects include a $81,500 (95m IQD) Nakhil tourist […]
Bulgaria plans to reopen its embassy in Baghdad and open a new consulate in Erbil this year, according to AKnews. The announcement was made during a meeting between Kurdistan Region President Massoud Barzani and Bulgarian Foreign Minister Nickolay Mladenov during a recent trip to Bulgaria. Bulgaria's embassy in Baghdad was closed in 2003. In a […]
On an official visit to Sofia, Bulgaria last week, Kurdistan Region President Masoud Barzani held meetings with the country’s leaders to promote bilateral relations and cooperation. President Barzani met President Rosen Plevneliev and talked about the many cultural and historical similarities that the people of Kurdistan and Bulgaria share. “Our peoples have much in common. […]
Bloomberg reports that Iraq is attracting the attention of global automakers including General Motors, Ford and Volkswagen. Western cars were shut out of the Iraqi market by sanctions during the Saddam Hussein era, and even today there are many old VW Passats that were shipped to Iraq from Brazil between 1983 and 1990 in exchange […]
As Iraq's capital emerges from almost a decade of conflict and civil strife it is becoming an economic battleground for Turkey and Iran: (Source: CNN)
The Basra Investment Commission has licensed three projects, including an amusement park and a shopping center, worth $72m (84 billion Iraqi dinars). Khalaf Badran, head of the board, revealed the details of the projects, which will be undertaken by local companies. Jalfar Amusement Park will be constructed in the Qibla district with a capital of […]
Investment companies will be exempted from paying duties on good entering Iraq under the new customs law, according to a report from AKnews. Finance Minister Rafie al-Issawi [Rafie al-Esawi, Rafi Hiyad al-Issawi, Rafia al-Issawi], pictured, said last week that the new bill will be adopted on 1st June, 2012, having been postponed twice in the […]
Food and goods prices in Baghdad are rising as the Arab summit approaches, reports AKnews. A member of the Iraqi parliament's finance committee said citizens have started to complain about the hike in prices, adding that the government should take action to stabilize market prices. One resident told the news agency that "rising food and […]
Iraq gears up for Arab League Summit: (Source: Al Jazeera)
Iraq’s Minister of Transport Hadi al-Amiri (pictured) talks to NIQASH about Iraq’s role in alleged Iranian weapons smuggling into Syria as well US spy drones over Iraq monitoring Iranian activities. “It’s a lie,” al-Amiri says. Al-Amiri also talks about how a recent visit to Iraq’s neighbour, Kuwait, could see Iraqi Airways flying again. And he […]
Libya has restored full diplomatic relations with Iraq and plans to send an ambassador to Baghdad, according to a report from AFP. Libya announced in June 2003 that it was breaking off diplomatic ties with Iraq and closing its embassy shortly after the US-led invasion of the country earlier that year, following which foreign diplomats […]
Brazil is to re-open its embassy in Baghdad this month 21 years after it was closed, Agencia Brasil, the Brazilian official news agency, reported on Tuesday. The country closed its embassy in Iraq in 1991 following the Iraq-Kuwait conflict, which put the diplomats in that country under risks. Even though for a long time there […]
