Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By Padraig O'Hannelly. With increasing commercial activity in Iraq, much of it by foreign-based investors, there's a growing market for adequate insurance to cover the risks. But in a country emerging from years of chaos, how can you be sure that the insurance you buy is legal and valid? To help clarify this point, Iraq […]
By John Lee. Two contracts have been signed with a company from the United Arab Emirates to invest in the Zubair Free Zone, according to a report from Aswat al-Iraq. AIN names the company as "Oren Hidrocker Pons", and says it is a specialist in the chemical industry. One project is described as "commercial", the […]
By John Lee. Reuters reports that Iraq's acting Minister for Defence, Sadoun al-Dulaimi (Sadun al-Dulaymi) (pictured), has been in Russia to negotiate the purchase of air surveillance equipment. Hakim al-Zamili, a member of the parlimantary security and defence committee, told the news agency: "There is a delegation, headed by the minister of defence and the commander […]
By John Lee. The third phase of construction at the Nahrawan industrial complex is soon to be launched, reports AIN. Directorate General for Industrial Development at the Ministry of Industry, Hadi al-Hassan, said: "The Directorate will invite companies related to the Ministry including al-Faris Company and the General Company for Design and Industrial Construction to […]
The UK's Middle East Association (MEA), in partnership with UKTI and the Kurdistan Regional Government, will be leading a Trade Delegation to Iraqi Kurdistan this October to coincide with the eighth Erbil International Trade Fair, Iraq’s largest general trade exhibition. Mission Participants will have the opportunity to exhibit at the Fair’s British Pavilion, as well […]
By John Lee. The large format banner printer was the last piece of equipment to arrive, completing the first round of printer purchases for the Karbala Printing and Marketing Service Center, culminating many months of planning and hard work by the staff of the Karbala Business Development Center (KBDC). Thanks to funding from the KBDC […]
By John Lee. Trade between Iran and the Kurdistan Region of Iraq is expected to exceed $4 billion (5 trillion Iraqi dinars) this year, AKnews reports. "This year, the maximum value of our trade activities will exceed $4 billion and such a boost is certainly the result of further cooperation," a local Kurdish official has […]
By John Lee. AKnews reports that the Kurdistan Regional Government's Ministry of Health has formed a 'high commission' (sic) for approving drugs. The commission is intended to register and approve pharmaceuticals and monitor quality. and then select the data and type of the drugs. (Source: AKnews)
By John Lee. Iraq’s Cabinet has agreed to allocate $500 million to resolve the long-running dispute with Kuwait over the debts of Iraqi Airways, according to Bloomberg. The Cabinet asked parliament to approve the allocation of $300 million from the 2012 budget and another $200 million in 2013, , State Minister Ali al-Dabbagh said on […]
By John Lee. Hilton Worldwide has announced expansion plans in Iraqi Kurdistan with the signing of a management agreement with the Mihtab Group to develop the first Hilton Hotels & Resorts property in the rapidly growing city of Erbil. The 300-room Hilton Erbil Hotel & Spa, which is expected to open in 2016, will be the […]
Truck maker Scania has acquired a majority stake in its Iraqi distribution company. Through this investment, Scania is building further on its strong brand in Iraq. In the early 1980s, Iraq was one of Scania’s largest markets. Since 1961, 35,000 vehicles have been delivered. Combined with significant imports of used vehicles in recent years, approximately […]
By John Lee. The KRG's Minister of Electricity, Yaseen Shekh Abubakir [Yassen Shekh Abubakir Mawati, Yasin Sheikh Abu Bakir Muhammad Mawati] (pictured), recently welcomed a delegation headed by Polish Ambassador to Iraq, Stanislaw Smolen, who said that Polish companies are ready to invest in the Kurdistan Region. At the meeting both sides discussed increasing investment […]
