Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. Iraq's Minister of Industry and Minerals, Professor Khaled Battal Al-Najm, has instructed the development of modern, environmentally friendly cement plants in the Badoush and Hammam Al-Alil complexes in Nineveh province. These new facilities will replace outdated plants built in the 1950s that still use the wet process. During his visit to the […]
By John Lee. In a landmark move to protect Iraq's agricultural legacy and strengthen its food security, the foundation stone has been laid for the country's first-ever Gene/Seed Bank, located in Hawari Shar Park, Sulaymaniyah. The facility is being funded by the European Union (EU) and implemented by the Food and Agriculture Organization of the […]
By John Lee. The Council of the European Union has appointed Ralf Schröder (pictured) as the new head of mission for the European Union Advisory Mission in Iraq (EUAM Iraq). He will take up his duties on 16th August 2025. According to a statement: Ralf Schröder is a high-ranked German police officer with 30 years […]
By John Lee. The Trade and Economic Research Centre (TREC) has signed a cooperation agreement with the Federation of Iraqi Chambers of Commerce, aiming to bridge the gap between academic research and Iraq's commercial and economic realities. The partnership seeks to promote a knowledge-based economy by translating theoretical studies into practical policies that enhance market […]
By John Lee. The Ministry of Trade has confirmed that Iraq's oil exports to the United States will not be affected by the newly announced 30-percent U.S. tariff, which was introduced by President Donald Trump to address the trade deficit with Iraq. Trade Ministry spokesperson Mohammed Hanoun said that oil exports are exempt from the […]
By John Lee. Gaith Al-Meshreq has won a contract with the United Nations Development Programme (UNDP) for the "Renovation and Supply of Equipment and Furniture for Vocational Training Center, Kirkuk Governorate." Contract value is stated as $190,761.37. (Source: UNGM)
By Adam Lucente for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. From Iraq to Algeria, Trump's looming tariffs could target 4 MENA countries The United States has a trade deficit with Iraq, Algeria, Libya and Tunisia, according to the US […]
From IDG Security: How Do Local Regulations Affect Foreign and Local Businesses Differently in Iraq? Iraq presents a unique and complex environment for businesses, with its blend of immense economic opportunities and intricate regulatory challenges. For foreign investors, understanding how local regulations impact both foreign and local businesses is crucial to navigating this dynamic market. […]
By John Lee. The International Monetary Fund (IMF) has said that Iraq's economy is facing considerable headwinds, with non-oil sector growth slowing from 13.8 percent in 2023 to an estimated 2.5 percent in 2024, impacted by reduced public investment, a weaker trade balance, and financing constraints that led to the accumulation of arrears. Real GDP […]
By John Lee. The National Investment Commission (NIC) has announced two 15-year investment opportunities for the management and maintenance of Bismayah Residential City, under the provisions of Investment Law No. 13 of 2006 (as amended). Each opportunity covers one of the city's residential blocks, with companies permitted to apply for one or both. The selected […]
By John Lee. Iraq's Climate Investment Plan (CIP) marks a turning point in the nation's ambition to tackle climate change impacts and drive economic diversification by strategically integrating climate change considerations into future investments, according to a statement from the United Nations Development Programme (UNDP). It continues: "This marks a turning point in the nation's […]
By John Lee. State-owned Rasheed Bank has launched specialised loans for purchasing renewable energy systems, specifically solar panels, with financing provided directly by the Central Bank of Iraq (CBI). The initiative allows citizens and public sector employees to apply for loans of up to 30 million Iraqi dinars [$21,000], at an interest rate of just 3 […]
