Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
Iraq is interested in Czech investments in agriculture, water management and energy industry, parliamentary speaker Osama Al Najafi [al-Nujaifi] (pictured) said on Friday after a meeting with the Czech Senate chairman Milan Stech. According to the report from Prague Daily Monitor, he said the investments will be boosted by an investment protection agreement to be […]
The Customs Directorate of the Iraqi Finance Ministry announced that 11 vehicles were seized carrying 200 tons of tea mixed with wood shavings and sticks imported by an Iraqi trader through the Traibil [Tirbil, Tarbiel] border crossing (pictured). The Director-General of the Customs Directorate Nawfal Khalil told AKnews that the Directorate has opened an investigation […]
The Kurdistan Region is once again preparing to host more than ten trade shows this year. Now firmly established as the centre for Iraq’s largest trade exhibitions, the fairs provide a meeting point for international companies, local firms and government officials from all parts of Iraq. The trade fairs are held in dedicated exhibition spaces. […]
About $57 million worth of cooking oil once destined for Iraq's national food rationing programme may be fed to animals because it was left outdoors for three years and passed its expiry date for human consumption, according to a report from Reuters. A parliamentary committee suggested turning the wasted 30,000 tonnes of vegetable oil into […]
British businessman Mark Jessop has admitted breaking United Nations sanctions during the Oil For Food Programme by making illegal payments to Saddam Hussein's government. He has been sentenced today at Southwark Crown Court to 24 weeks' imprisonment and ordered to pay compensation and costs. Background Mark Rodney Jessop, aged 53, sold medical goods to the […]
Najaf Investment Commission has announced that it granted six new licenses for investment in various sectors, with a total value of $98.5 million [115 billion Iraqi dinars]. The head of the board, Wafi Albhash, told AKnews that the investment licences included: a five-star hotel valued at $36.2 million, consisting of 12-storeys, 210-rooms and 10 hotel […]
Kings, presidents and emirs are invited to a former Saddam palace for the Arab League summit in May. Saddam Hussein's former palace in Baghdad has been completely renovated in preparation for the historic summit. The palace, which has a history as tumultuous as the country's, has been given a $400m makeover. Many hope the gleaming […]
Spain’s official foreign trade agency yesterday [Monday] launched a two-day business forum in Erbil to strengthen commercial ties between Spain and the Kurdistan Region. At the forum, 50 leading Spanish companies met government officials and representatives of over 150 local firms. On behalf of Prime Minister Barham Salih, the Chairman of Kurdistan’s Investment Board Minister […]
Basra Investment Commission has granted an investment licence to the Al- Mawada Company for Media Production and Broadcasting. The project includes the construction of a media complex in Kut Al- Faranki, and it will be completed within 6 months. The total value of the project is estimated at 5.24 billion Iraqi dinars ($4.4 million). The […]
Basra Investment Commission has granted an investment license for an agricultural project to construct a technical laboratory for tissue cultivation in a cost of 4.8 billion Iraqi Dinars [$4m]. The project includes the building of a laboratory to produce palm trees and plants by using tissues. It also includes a research and studies centre to […]
The Swedish Ambassador to Iraq, Carl Magnus Nesser, said the Kurdistan Region is very appropriate for investment, according to a report from AKnews. During a visit to the Awamedica pharmaceuticals factory (pictured) in the Kurdistan Region, he said there are many Swedish companies considering investment in Kurdistan. (Source: AKnews)
Iraq may purchase electricity from Armenia, said Vice-Prime Minister of IraqSaleh al-Mutlaq at the meeting with Armenian Ambassador Murad Muradian. The sides discussed possible areas of economic cooperation, including ways of supplying electricity from Armenia to Iraq, expressing the hope that this problem will be resolved. Ambassador Muradian informed the vice-prime minister of Iraq that […]
