Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. The Prime Minister of Iraq has directed the allocation of land for the creation of an industrial city dedicated to small businesses, particularly those supported under Riyada Initiative [Iraqi Riyada Network for Access Development and Advancement, IRADA Network]. Mohammed S. Al-Sudani said that, to date, the initiative has granted loans to around […]
By John Lee. The Iraqi Ministry of Trade has signed an agreement with Switzerland's Bühler and Egypt's Samco to construct five state-of-the-art grain silos, each with a storage capacity of 60,000 tonnes. The silos will be built in Kirkuk, Anbar, Wasit, Najaf, and Muthanna, as part of the ministry's infrastructure development plan. Minister Atheer Daoud […]
By John Lee. Kuwait-based Safir Hotels & Resorts has announced its entry into Iraqi Kurdistan with a new 5-star hotel in Erbil. The management contract was officially signed between Hariri Building & Contracting Co. HARCO Offshore, the hotel's owning company, represented by Mr. Mostafa Al-Hariri, Chairman of the Board, and Safir International Hotels & Resorts, […]
By John Lee. The Central Bank of Iraq (CBI) has announced the successful transition of external transfers from an electronic platform to direct operations by Iraqi banks through their international correspondent banks. According to a CBI statement, this milestone, fully achieved at the end of December, aligns with global best practices, promoting a stable and […]
By John Lee. The Iraqi Cabinet has authorised the Minister of Finance, or a designated representative, to sign a loan agreement funded by the Export-Import Bank of the United States (EXIM, EXIMBank). The loan will support the implementation of combined-cycle projects for the Kirkuk Gas Power Plant under the Ministry of Electricity. According to a […]
By John Lee. The Iraqi Cabinet has established new regulations for handling scrap metal, military surplus, and industrial waste. Key directives include: Free Transfers: Ministries of Defence, Interior, and other security agencies will transfer decommissioned equipment, empty ammunition casings, and military-grade scrap metal to the Military Industrialisation Authority without charge. Brass Transfers: All ministries and […]
By John Lee. Iraq's National Development Plan (NDP) 2024-2028 has finally been released. The plan was a collaboration between the United Nations Development Programme (UNDP) and Iraq's Ministry of Planning with the support of the United States Agency for International Development (USAID). Launched (sic) to great fanfare back in August, the plan has been kept […]
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 […]
