Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
Ninewa is actively seeking to entice foreign investors to the province, according to Ninewa's Governor, Atheel al-Nejeifi, said on Friday. “The province has tabled proposals to the local council to set up investment firms in numerous fields, including an airlines company,” Nejeifi told Aswat al-Iraq news agency. The Ninewa Investment Commission had said in August […]
One striking characteristic of business in Iraq is the extent of state-ownership of enterprise and assets. Mudher Kasim, a senior advisor to Iraq's Central Bank, claimed that “the problem in Iraq is that 90 percent of the wealth of the nation is in the hands of the government. So centralism always dominates the mindset everywhere”. […]
Iraq issued tenders to redevelop "more than 10" industrial plants as part of a plan to revamp 250 state-owned facilities through private investors, an industry ministry official said, according to a report from Bloomberg. Deputy Minister Mohammed Abdullah Mohammed said the plants are mainly producing cement, petrochemicals, steel and pharmaceuticals, and the contracts are for […]
The Iraqi Interior Ministry says it is negotiating the import of 1,000 police dogs from the United States. “The ministry will sign a contract for the purchase of 1,000 police dogs to help police in their searches for explosives,” said Brigadier Salah Abdulsultan, according to a report from Azzaman. Abdulsultan said Iraq currently has 32 […]
ABB, the Swiss-Swedish engineering group, has agreed to pay more than $58m to settle criminal and civil charges in relation to alleged payment of bribes and kickbacks in Mexico and Iraq. The Swiss-Swedish engineering group was charged by the US with conspiracy and violating the Foreign Corrupt Practices Act. Prosecutors alleged that ABB and its […]
A U.S.-Turkish delegation met the Chairman of the Baghdad Investment Commission on Wednesday to discuss the establishment of two factories for gypsum and Pepsi, according to a statement of the BIC. “The BIC Chairman, Shaker al-Zamel [Shaker A. Shibeeb], received a delegation from a U.S.-Turkish company to set up two factories to produce gypsum and […]
Gulftainer, in collaboration with a local Iraqi company, launched a new container-dock project in Basra on Monday, with the aim of increasing capacity at the port by about 58,000 tons per year. The Emirati company will initially invest $24m [29 billion Iraqi dinars] in the project, according to the report from AKnews. Gulftainer's Director, Peter […]
The Defense Security Cooperation Agency [DSCA] notified Congress today [September 24, 2010] of a possible Foreign Military Sale to Iraq of contractor technical support of the Iraqi Defense Network and associated parts and equipment for a complete package worth approximately $98 million. The Government of Iraq has requested a possible sale of contractor technical support […]
The Defense Security Cooperation Agency [DSCA] notified Congress today [September 24, 2010] of a possible Foreign Military Sale to Iraq of contractor logistics support for Mobile Communications Centers and associated parts and equipment for a complete package worth approximately $57 million. The Government of Iraq has requested a possible sale of contractor technical support for […]
In the Iranian first half-year (starting March 21) $443 million [530 billion Iraqi dinars] worth of goods were exported to Iraq through border crossings in Iran’s Kermanshah Province. ISNA news agency cited a report by Kermanshah Customs Administration stating that the exported items included cement, fish, dairy products, vegetables, fruit, and confectionary and aluminum retainers. […]
The Pentagon issued a proposal on Monday to sell weapons worth $4.2bn to Iraq, including 18 F-16 fighter aircraft, Sidewinder air-to-air missiles, laser-guided bombs and reconnaissance equipment, according to a report from the Financial Times. The Pentagon said the proposed arms sales would make Baghdad “a more valuable partner in an important area of the […]
Iraq inaugurated the first of its fleet of new US-built patrol boats on Sunday, part of the effort to boost its naval capacity and secure key oil platforms ahead of the American pullout next year, according to an AFP report. The rapid build-up of the Iraqi navy is seen as crucial to protecting the terminals […]
