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By John Lee.

Iraqi Prime Minister Mohammed Shia Al-Sudani has opened the new Al-Fadhiliya General Hospital in Baghdad on Thursday, a 246-bed medical facility that had been stalled since 2014.

According to a press release from the Prime Minister's Media Office, the project, now completed eight months ahead of schedule, marks a major milestone in Iraq's healthcare infrastructure renewal under the government's plan to deliver services across all districts and sub-districts.

The new hospital, built on 27 dunams of land, serves the areas of Al-Fadhiliya, Kamilia, Baladiyat, Al-Mashtal, Al-Amin, and other eastern Baghdad neighbourhoods. It features ten state-of-the-art operating theatres, three modern maternity suites, departments for surgery, paediatrics, endoscopy, physiotherapy, laboratory testing, radiology, and dialysis, as well as 36 clinics, a lecture hall, a central pharmacy, and on-site accommodation with 48 apartments for staff.

The project was completed in cooperation with Saudi Arabia's PVR Group.

Al-Sudani confirmed that eight major hospitals have already been completed in Baghdad, with sixteen more 100-bed hospitals scheduled for opening soon across Iraq's districts and sub-districts. He also highlighted progress in implementing the national health insurance system, which now covers more than 2.3 million citizens.

(Source: Prime Minister's Media Office)

By John Lee.

Prime Minister Mohammed Shia Al-Sudani on Monday received Mr. Hisham Talaat Moustafa, Chairman of Egypt's Talaat Moustafa Group (TMG) along with his accompanying delegation. The meeting was attended by the Chairman of the National Investment Commission (NIC) and the Saudi Ambassador to Iraq.

The discussions focused on the Al-Rafeel [Rafael] Economic City project, west of Baghdad, for which a memorandum of understanding (MoU) was signed between the NIC and the company in May, as well as the challenges facing its implementation and possible solutions.

Prime Minister Al-Sudani emphasised the importance of fostering productive economic partnerships with Arab countries to promote sustainable development and ensure shared prosperity through stronger investment cooperation.

Mr. Moustafa reviewed the progress made so far and affirmed the company's commitment to advancing the project in line with the agreed implementation framework.

(Source: PMO)

By John Lee.

The Iraqi Ministry of Transport has received bids from several international companies to develop Baghdad International Airport (BIAP).

According to Bassem Waheed, Acting Director General of the Contracts and Licensing Department, the Ministry's evaluation committee will select the best offer to ensure high-quality development services for the airport.

Three consortia submitted proposals:

• Asyad Holding [Saudi Arabia], in partnership with YDA Construction [Turkey]; Lamar Holding [Bahrain]; Top Engineering Corporation Arabia (TEIC) [Saudi Arabia], which is a branch of China's Shaanxi Construction Engineering Group; and Dublin Airport Authority (DAA) [Ireland].
• ERG International [UK], leading a consortium including Terminal Yapi [Turkey], and ERG Construction.
• Corporación América Airports [Luxembourg, Argentina] in partnership with Amwaj International [Iraq].

Waheed noted that the offers were received within the designated timeframe and documented transparently, describing the process as a key step in Iraq's broader effort to attract private investment in infrastructure.

The selected investor will be responsible for rehabilitating airport infrastructure, constructing a modern passenger terminal, and managing airport operations for 25 years in line with international safety and service standards.

The evaluation phase will now proceed to a technical review, followed by a public verification session. Financial bids will be opened only for qualified technical bidders on 16 October 2025.

(Source: Ministry of Transport)

By John Lee.

The Minister of Industry and Minerals, Prof. Eng. Khaled Battal Al-Najm, oversaw the signing of partnership agreements between Iraqi private sector companies and their Saudi counterparts in the field of transformer and electrical equipment production.

The signing took place during the Iraq Investment Forum, attended by the Saudi Ambassador to Iraq.

According to a statement from the Ministry, the initiative reflects its strategy to support Iraq's private sector, foster technology transfer, and promote industrial cooperation in line with Iraq's national development plans.

(Source: Ministry of Industry and Minerals)

By John Lee.

OPEC has said it has received updated compensation plans from several countries, including Iraq, to compensate for excess oil production.

Full statement from OPEC:

OPEC Secretariat receives updated compensation plans from Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, and Oman

As agreed during the virtual meeting held by the eight countries with additional voluntary adjustments, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, on 7 September 2025, the OPEC Secretariat received updated compensation plans as per the table above.

(Source: OPEC)

By John Lee.

National Investment Commission (NIC) Chairman Dr. Haider Mohammed Makiyya met on Wednesday with Saudi investor Mohammed Al-Khraif and his accompanying delegation to discuss ways of enhancing investment cooperation between Iraq and Saudi Arabia across multiple economic and industrial sectors.

Dr. Makiya reaffirmed the government's commitment to providing a safe and attractive environment for Arab and foreign investors, noting that the NIC is working to remove obstacles and provide the necessary support to projects that contribute to sustainable development. He highlighted that over the past two and a half years, investment in Iraq had reached approximately $102 billion, reflecting investor confidence in the opportunities and potential of the Iraqi market.

The NIC Chairman also invited Saudi companies and investors to participate in the Iraq Investment Forum, scheduled for 27-28 September in Baghdad, where more than 168 investment opportunities across different sectors will be presented.

For his part, Mr. Al-Khraif expressed appreciation for the warm welcome and reiterated his interest in Iraq's promising opportunities, particularly in industry, energy, and housing, stressing his intention to expand future investments to strengthen economic cooperation between the two countries.

(Source: NIC)

IFC Marks 20 Years of Partnerships for Impact in Iraq, Announces $1bn in New Investments

The International Finance Corporation (IFC), a member of the World Bank Group, held an IFC Partnerships Day in Baghdad on Saturday, under the patronage of His Excellency Mr. Mohammed Shia' al-Sudani, Prime Minister of Iraq, to mark two decades of impact in the country and announce $1 billion in new investments and engagements in energy, infrastructure, agribusiness, and finance, underscoring IFC's long-term commitment to the country's private sector.

 "We congratulate Iraq and the Iraqis for signing these important agreements today with IFC, one of the most important and prestigious institutions in the financial advisory and investment space. Iraq is ready to embrace Arab and foreign partnerships like these ones," said H.E. Mohammed Shia' al-Sudani, Prime Minister of the Republic of Iraq.

Since 2005, IFC has invested and mobilized more than $2.5 billion for projects in Iraq. These investments have created over 28,000 jobs-including 5,000 for women-by strengthening infrastructure, expanding access to finance, supporting manufacturing, and enhancing food security.

During the same period, IFC has backed Iraq's economic diversification through landmark transport and energy projects. IFC has also helped advance sustainable finance in partnership with the Central Bank of Iraq (CBI), the Iraq Stock Exchange, local banks, and finance institutions, supporting small and medium enterprises. In addition, IFC is currently serving as lead advisor on Iraq's first airport PPP, paving the way to the modernization of the nation's gateway.

The event, which was attended by H.E. Prime Minister Mohammed Shia' al-Sudani alongside senior government officials, private sector leaders, and development partners, included the launch of several new partnerships which will tap into the resilience of Iraq's private sector and foster sustainable growth.

"Iraq's private sector is agile, resilient, and capable of driving sustainable growth," said K. Aftab Ahmed, IFC Director for the Middie East, Pakistan and Afghanistan. "Over the past twenty years, IFC has stepped up to support the country, bringing not only its financing and global expertise but also mobilizing international capital to realize local priorities. Today, we mark a new chapter in our partnership, aiming to support strategic sectors that align with Iraq's Vision 2030."

IFC's new partnerships will aim to:

• Enhance energy access and reduce emissions: IFC has been mandated by Basrah Gas Company (BGC) to lead, arrange, and syndicate a second loan of up to $500 million. Building on the first financing package led by IFC in 2021, this new investment, once committed, is expected to further advance one of the world's largest gas flaring reduction projects, capturing gas for energy use and significantly reducing emissions.
• Strengthen infrastructure: IFC partnered with Aloreen Company for Investment with the aim to invest $120 million to support new equipment for container handling and expand yard capacity in Iraq's Umm Qasr Port. The project is being developed in collaboration with Terminal Investment Limited Holding, a subsidiary of Mediterranean Shipping Company (MSC), bringing international expertise to strengthen Iraq's trade gateway.
• Promote manufacturing: IFC partnered with Nomu Holding, a subsidiary of Iraq's Al-Maysarah Group and Saudi-based Al Muhaidib Group, with the aim to invest $200 million to strengthen Iraq's construction materials industry. The project will help modernize industrial operations, promote decarbonization, and build local workforce skills.
• Expand housing and retail: IFC partnered with Hiwa Rauf for Investment and Development with the aim to provide $65 million to support the establishment of Iraq's first certified sustainable mixed-use real estate project in Sulaymaniyah in the Kurdistan Region of Iraq. The initiative will help promote sustainable urban infrastructure, address residential supply gaps, attract private investment, and generate jobs in construction and services.
• Bolster food security: IFC partnered with Tiryaki Agro to jointly conduct a feasibility study which will aim to reduce reliance on grain imports by building the capacity of local farmers in sustainable modern farming practices. The study will assess the viability of sustainable agricultural infrastructure, modern storage, and renewable energy integration, with an initial focus on wheat.
• Advance healthcare infrastructure: IFC partnered with Ruban [Raban] Al Safina to jointly develop a feasibility study for a 200+ bed teaching hospital within the American University of Iraq in Baghdad (AUIB) with the aim to strengthen the country's healthcare system, develop human capital, and enhance access to high-quality clinical services.
• Boost trade: IFC partnered with the Bank of Baghdad to extend a $10 million trade finance line through its Global Trade Finance Program (GTFP). This will allow the Bank of Baghdad to join a global network of banks to support cross-border trade and increase access to essential goods.
• Increase access to finance for smaller businesses: IFC partnered with the First Finance Company (FFC) with the aim to unlock new opportunities for Iraq's Micro, Small, and Medium Enterprises (MSMEs) by better understanding the market and identifying strategic areas of focus.

(Source: IFC)

By John Lee.

Zain Group has announced the regional expansion of its flagship startup accelerator, Zain Great Idea (ZGI 2025), now open to innovators in Kuwait, Bahrain, Iraq, Jordan, Saudi Arabia, and UAE. The program is powered by Zain Ventures, the Group's venture capital arm, and ZainTECH, its digital solutions enterprise.

For the first time in ZGI's 15-year history, startups across the region can access mentorship, capital, and global exposure, including a two-week program in Silicon Valley. The initiative supports early-stage projects in sectors such as fintech, e-commerce, AI, edtech, and other emerging technologies.

Program Highlights:

• Open registration for startups until 20 September 2025.
• Intensive mentorship, workshops, and pitch training.
• Selection of up to 15 startups to attend Silicon Valley's International Accelerator.
• Continued mentorship post-Silicon Valley and technical support via ZainTECH.
• Demo Day for startups to present growth and investment opportunities to regional venture capitalists.

According to a press release, ZGI has a proven legacy in Kuwait, up-skilling over 7,000 entrepreneurs, supporting 450 startups, and facilitating USD 135 million in funds raised from regional investors over the past five years. The 2025 expansion underscores Zain's commitment to fostering regional innovation, job creation, and a thriving entrepreneurial ecosystem.

Click here for more details.

(Source: Zain Group)

By John Lee.

The Chargé d'Affaires a.i. of the Embassy of the Republic of Iraq in Kuala Lumpur, Counselor Ahmed Ghanim Abduljabbar, has met with the leadership of SPARCO Engineering SDN BHD at the Embassy's headquarters.

Executive Director Raja Ariff and Managing Director Sumasni Sulaiman expressed the company's intention to launch commercial and investment activities in Iraq, particularly in oil, gas, petrochemicals, and agricultural fertilizers. They cited Iraq's improving investment climate, with growing competition among international companies to establish operations. SPARCO already has a significant presence in Saudi Arabia and Indonesia in related sectors.

The Chargé d'Affaires confirmed the Embassy's readiness to facilitate cooperation with Malaysian institutions and companies, noting Iraq's economic growth under government development plans and the country's openness to foreign investment in infrastructure, energy, and public services. He also encouraged Malaysian participation in exhibitions and conferences across Iraq as a way to deepen economic ties.

The meeting concluded with an exchange of commemorative gifts and agreement to maintain regular engagement to advance bilateral cooperation.

(Source: Iraqi Ministry of Foreign Affairs)

By John Lee.

Iraq's Minister of Communications, Dr. Hiyam Al-Yasiri (pictured), has met with Ooredoo of Qatar to discuss joint projects aimed at strengthening Iraq's role as a regional and international data hub.

Talks focused on implementing bilateral agreements to route communications traffic via the FIG submarine cable landing station in Al-Faw, managed by Ooredoo, and through border crossings at Safwan (Kuwait) and Arar (Saudi Arabia), extending to Ibrahim Al-Khalil and Faysh Khabur (Turkey) and onwards to Europe.

The Minister and Ooredoo's technical delegation also discussed expanding transit capacity into Iraq and marketing it to local internet service providers (ISPs) through the infrastructure of the General Company for Communications and Informatics.

The move is expected to improve service quality, reduce prices, and leverage Iraq's strategic geographical position as a key link between Gulf states and global networks.

(Source: Ministry of Communications)