Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. Iraq's Minister of Transport, Razzaq Muhibis Al-Saadawi, has announced progress on the Development Road Project, emphasizing that following the completion of detailed designs, the project will be presented to major international companies for investment opportunities. Key Progress Milestones: Completion of Preliminary Designs: The Ministry has finalized 100% of the preliminary designs for […]
By John Lee. The Iranian Minister of Science, Research, and Technology, Hussein Simayi Sarraf, has reportedly expressed Iran's readiness to collaborate with Iraq in establishing joint science and technology parks, following a request from Iraqi higher education officials to benefit from Iran's expertise in this field. According to Iran's state-run Islamic Republic News Agency (IRNA). […]
By John Lee. Qi, a leading player in Iraq's fintech sector, has reportedly unveiled its third-generation app, SuperQi, in collaboration with China's Ant International. According to a report in Gulf Business, SuperQi offers a comprehensive suite of services that include scan-to-pay, money transfers, bill payments, loans, mobile recharge and other payment solutions, enabled by by […]
By John Lee. The ninth session of the Omani-Iraqi Joint Committee has taken place in Baghdad, chaired by Oman's Foreign Minister Sayyid Badr Albusaidi and Iraq's Deputy Prime Minister and Foreign Minister, Dr. Fuad Hussein. Two Memoranda of Understanding (MoUs) were signed during the session to solidify bilateral cooperation: Political Consultations: An agreement between the […]
By John Lee. The United Nations Development Programme (UNDP) in Iraq and the Japan International Cooperation Agency (JICA) Iraq Office have renewed their longstanding partnership, reaffirming their commitment to supporting Iraq's socio-economic development. Backed by funding from the Government of Japan (GoJ) and JICA, this partnership builds on over 15 years of cooperation with the […]
By John Lee. Prime Minister Mohammed S. Al-Sudani inaugurated the construction of Phase One of the North Thermal Power Plant in Nineveh Province on Sunday, during his visit to the region. According to his office, this marks a significant milestone in Iraq's efforts to strengthen its power infrastructure and revive critical projects. Project Overview: Capacity: […]
By John Lee. The Iraqi Ministry of Electricity has announced a plan to enhance Baghdad's power grid ahead of summer 2025, including the installation of 74 new substations and the rehabilitation of 900 distribution feeders (33/11 kV). The initiative aims to address growing electricity demand and reduce outages. During a meeting with Baghdad Provincial Council […]
By John Lee. Iraq's Ministry of Electricity has signed a contract to construct three power substations in Basra Province. Funded by the World Bank, the project will add 3x90 MVA capacity at 132 kV, enhancing grid reliability, balancing loads, and reducing bottlenecks. According to a statement from the Ministry, the project will be executed by […]
By John Lee. Iraq's Minister of Industry and Minerals, Dr. Eng. Khaled Battal Al-Najm, reaffirmed the government's commitment to international cooperation to revitalize the country's industrial sector. This statement came during his meeting with Bulgaria's Ambassador to Iraq, Mr. Nikola Draganov. The discussion focused on strengthening industrial collaboration, reactivating the Iraq-Bulgaria Joint Committee, and preparing […]
By John Lee. The Central Bank of Iraq (CBI) announced an expansion of foreign currency transfer options for local banks, adding the Jordanian Dinar and Saudi Riyal to the list. Iraqi banks are now also permitted to fund trade with Turkey in Euros, previously restricted to transactions with EU countries. These currencies join the existing […]
By John Lee. The Iraqi Ministry of Electricity, in collaboration with the U.S. Department of Commerce's Commercial Law Development Program (CLDP), organized a two-day workshop in Baghdad to explore best practices in financial modeling for energy production projects. Key attendees included Dr. Abdul Hamza Hadi, ministry advisor, and specialized staff from various departments and companies. […]
By John Lee. Iraq Venture Partners (IVP) has identified four main areas as untapped investment opportunities in the Iraqi market: Fintech: Limited access to formal banking creates demand for mobile payment solutions and digital financial products. There is room for growth in areas like peer-to-peer lending, microfinance, and digital banking solutions that enhance financial inclusion, […]
