Iraq Wins in $1bn Arbitration Case against German Firm
By John Lee. Iraq's Ministry of Justice has said it has successfully defended Iraq in a $1-billion international arbitration case filed by Germany's AHG Industry GmbH & Co. KG at the World Bank's International Centre for Settlement of Investment Disputes (ICSID). According to the statement from the Ministry on Tuesday (11th March), the dispute stemmed […]
$2.8bn Iraq Defense Contract: Companies "Struggle for Control"
By Kim Ji-hwan, for ChosunBiz. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Hanwha and LIG Nex1 struggle for control in Iraq missile export negotiations Industry rivalry hinders progress on missile sale to Iraq as firms seek dominance. The full article can be viewed […]
List of New 100-Bed Hospitals Under China Agreement
By John Lee. The Ministry of Health has announced details of the 100-bed hospital series under the Iraq-China agreement, specifying the provinces and expected completion timeline. Ministry spokesperson Seif Al-Badr confirmed that contracts with reputable global companies are ongoing, with daily oversight from Health Minister Dr. Saleh Mahdi Al-Hasnawi. The hospitals will be constructed in: […]
World Bank Reaffirms Commitment to Supporting Iraq
By John Lee. Iraq's Minister of Finance, Taif Sami, met with Jean-Christophe Carret, the World Bank's representative in Iraq, to discuss strengthening economic and financial cooperation. The discussions focused on strategic projects aimed at stimulating economic growth, creating jobs, and developing infrastructure and human capital. Minister Sami emphasized Iraq's commitment to leveraging technical and financial […]
UNDP Discusses Iraq's Industrial Development Strategy
By John Lee. Iraq's Ministry of Industry and Minerals has engaged in discussions with the United Nations Development Programme (UNDP) to enhance industrial and economic development. The meeting, chaired by Deputy Minister for Planning Ahmed Abdul Jabbar Ali, focused on cooperation mechanisms to support Iraq's 2024-2030 Industrial Strategy. The Deputy Minister highlighted the ministry's policy-making […]
NIC holds Meeting for Energy Services Economic Cities
By John Lee. Iraq's National Investment Commission (NIC) has held a preparatory meeting for the Energy Services Economic Cities Initiative, aimed at supporting local economic diversification and attracting foreign investment in the energy sector. NIC Chairman Dr. Haider Mohammed Makia [Makiyya] emphasised that these specialised cities will serve as hubs for global and local companies […]
Al-Fatha Bridge Reconstruction
By John Lee. Prime Minister Mohammed S. Al-Sudani has officially inaugurated the reconstructed Al-Fatha Bridge over the Tigris River, restoring a crucial transportation link between Salah al-Din and Kirkuk Governorates. The 540-meter bridge, which was destroyed during the war against ISIS, has been rebuilt with enhanced capabilities following the Prime Minister's directive to accelerate its […]
IMF Discusses Strengthening Iraqi Dinar
By John Lee. Iraq's delegation concluded its meetings with the International Monetary Fund (IMF) in Amman (February 24-26), with participants including Minister of Finance Taif Sami and the Governor of the Central Bank of Iraq (CBI). Discussions focused on Iraq's economic performance and sustainable growth prospects, with the IMF acknowledging the progress made. Key discussions […]
Iraq Grants Solar Energy Licence to TotalEnergies
By John Lee. Iraq's National Investment Commission (NIC) has granted its first solar power investment license for a 1,000 MW project to France's TotalEnergies, marking what it described as a major step in the country's transition to renewable energy. NIC Chairman Dr Haider Mohammed Makiyya [Makia] confirmed that construction work has begun at the Ratawi […]
Dubai-based Facilities Management Firm enters Iraqi Market
By John Lee. Dubai-based facilities management (FM) company EFS Group has commenced operations in Iraq. According to a LinkedIn post from Regional Country Director Kamal Zahran, the company is tapping into Iraq's extraordinary potential for facilities management. "As an early entrant, we are proud to be part of this dynamic industry landscape," he said. Vice Chairman […]
Iraqi PM invites Solar Power Companies to Conference
By John Lee. The National Team for Renewable Energy Projects and Energy Efficiency at the Iraqi Prime Minister's Office has invited "specialized companies in the field of solar energy project implementation" to participate in a conference. The conference will take place at the Training and Energy Research Directorate of the Ministry of Electricity on Thursday, […]
New Facility to make Cancer Drugs in Karbala
By John Lee. Prime Minister Mohammed S. Al-Sudani has inaugurated the new "Hydrogen" Pharmaceutical Plant in Karbala Governorate, specializing in the production of cancer treatment medications. The state-of-the-art facility is part of the government's strategic initiative to localize pharmaceutical production, positioning Iraq as a regional leader in the manufacturing of complex medications at affordable costs. […]