Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. Iraq's Ministry of Electricity has confirmed a sharp decline in gas supplies from Iran, causing a loss of approximately 3,800 megawatts from the national power grid. According to Saad Fureih, Director of the Fuel Directorate at the Ministry, gas imports from Iran fell to 25 million cubic metres per day - less […]
By John Lee. The Iraqi government has approved a proposal from the Basra Governorate to include four new water desalination projects in its development plans. The approved plants are: Shatt Al-Arab Desalination Plant, with a capacity of 5,000 m³/hour; Al-Faw and Al-Seeba Desalination Plant, with a capacity of 3,000 m³/hour; Abu Floos Desalination Plant, with […]
By John Lee. The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced sanctions targeting networks involved in transporting and purchasing Iranian oil, including a group of companies led by Iraqi businessman Salim Ahmed Said. The U.S. alleges that Said's network smuggled Iranian oil disguised as, or blended with, Iraqi oil, […]
By John Lee. Iraq's Minister of Agriculture, Dr. Abbas Jabr Al-Maliki, has signed a Memorandum of Understanding (MoU) with his Bulgarian counterpart, Dr. Georgi Tahov, to strengthen cooperation in the agricultural sector. The official meeting, held in Sofia and attended by Iraq's Ambassador to Bulgaria H.E. Lina Omar, focused on deepening collaboration in livestock development, […]
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani has directed the advancement of public-private partnerships in Iraq's pharmaceutical sector, with a particular focus on expanding local production of cancer treatments. At a high-level meeting on Sunday with the Minister of Health, advisors, private-sector pharmaceutical producers, and the Pharmaceutical Manufacturers Association, the Prime Minister reviewed progress […]
By John Lee. The Iraqi Speaker of Parliament Dr Mahmoud al-Mashhadani met with Turkish Foreign Minister Hakan Fidan in Ankara on Wednesday to discuss strengthening bilateral relations and joint initiatives. Dr al-Mashhadani called for deeper cooperation between the two nations, proposing the activation of parliamentary friendship committees and requesting Turkey to ease residency procedures for […]
By John Lee. The Central Bank of Iraq (CBI) reports that inflation fell in the first quarter of the year. The latest data shows an inflation rate of 2.2 percent in Q1 2025, down from 2.8 percent in Q4 2024. This points to a reduction in the general price level and an improvement in purchasing […]
By John Lee. Iraq's General Directorate of Industrial Development (GDID), part of the Ministry of Industry and Minerals, issued 172 preliminary licences for the establishment of new industrial projects during May 2025. Director General Dr. Eng. Ali Ibrahim Janan said the permits cover a range of sectors, including food industries, chemical, metal, construction, textile, and […]
By John Lee. As part of government efforts to diversify Iraq's energy mix and reduce reliance on fossil fuels, the National Investment Commission (NIC) has awarded four major investment licences in the renewable energy sector during 2025. NIC Chairman Dr. Haider Mohammed Makkia [Makiyya] re-announced the licences on Wednesday, noting their alignment with Iraq's National […]
By John Lee. In a coordinated effort with the Ministry of Health, Iraq's National Investment Commission (NIC) has launched a pioneering initiative to equip health centres with solar power systems, marking a step toward expanding investment in critical public service sectors and accelerating the country's shift to renewable energy. The initiative was announced on Wednesday, […]
By John Lee. The opening of new Iraqi TIR corridors has enabled a dramatic reduction in transit times between Europe and the Gulf Cooperation Council (GCC), with journey durations cut from 24 days to just 10, according to a press release from the International Road Transport Union (IRU). Polish logistics company Milton Group recently completed […]
By John Lee. The Central Bank of Iraq (CBI) has issued a press release claiming extensive praise from an International Monetary Fund (IMF) mission, led by Jean-Guillaume Poulain, following meetings from 4th to 13th of May, 2025. The CBI statement, widely reported in local and international press, cites the post-meeting report from the IMF, which […]
