More New Investment Opportunities in Iraq
By John Lee. The National Investment Commission (NIC) has announced the following investment opportunities: Production of diapers in Diwaniyah – State Company for Textile and Leather Industries Production of 9mm pistols – State Company for Military Industries Production of Unmanned Aerial Vehicles (UAV) – State Company for Military Industries Production of solvents and asphalt – […]
CMEC to Expand in Iraqi Electricity Sector?
By John Lee. During their recent visit to China, the Deputy Prime Minister for Economic Affairs, accompanied by the Ministers of Transport and Electricity visited the China Machinery Engineering Corporation (CMEC), which specializes in transport, energy, communications and heavy engineering equipment. The company is already involved in the reconstruction of Salah al-Din power station and […]
China Railway Company considers Karbala-Najaf Railway
By John Lee. The Deputy Prime Minister for Economic Affairs, Fuad Hussein, accompanied by the Ministers of Transport and Electricity, a number of Governors, Advisors to the Prime Minister and a number of general managers visited the China Railway Company earlier this week. Among the projects discussed were the building of the Karbala-Najaf railway. The […]
The Impact of GDPR in Iraq
By Nick O'Connell, Partner, Al Tamimi & Co. This briefing note was originally published by lus laboris and is republished with permission by Iraq Business News. In Iraq the European Union's General Data Protection Regulation (GDPR) has had limited impact. There is currently no modern data protection law in Iraq, and there is accordingly no […]
TechnipFMC settles Iraq Bribery Case
By John Lee. Oil and gas company TechnipFMC has agreed to pay more than $5 million to settle an Iraq-related corruption case with the US Securities and Exchange Commission (SEC). The company is alleged to have taken part in bribery between 2008 and 2013 to secure business from Iraqi state-owned oil companies. Just last month, […]
Blue Hackle awarded Quality Certifications
By John Lee. Security company Blue Hackle, which operates in Iraq, has recently been awarded several quality certifications. In a statement, the company said it has "successfully achieved ISO 18788:2015, ISO 9001:2015 and the ANSI/ASIS PSC.1-2012 certifications, having successfully completed the Stage 2 audit, which was conducted by MSS Global". (Source: Blue Hackle) (Picture: ISO9001, […]
Iraq to join China's Belt and Road Initiative
By John Lee. Prime Minister Adel Abdel Mahdi has reportedly said that Iraq will join China's "Belt and Road" [One Belt One Road] initiative. According to AFP, he made the announcement in a meeting with Chinese President Xi Jinping during a state visit to the country. President Xi said that China would like "to push […]
Iraq "Expels Taiwanese Business Delegation"
By John Lee. Iraq has reportedly expelled a visiting Taiwanese business delegation from the country. According to Focus Taiwan, the Taiwan External Trade Development Council (TAITRA) was abruptly notified that the delegation's visas had been canceled a few days after its members had arrived in the country. The delegation was scheduled to visit Baghdad and […]
Petrel Resources eyes Opportunities in Iraq
By John Lee. Irish-based Petrel Resources has said that one of its main priorities has been re-building its presence in Iraq. In its financial results for the six months ended 30th June 2019, the company said: "While challenges remain, the Iraqi government encourages international investors with Iraqi operating experience. The security situation has dramatically improved […]
Iraq steps up Search for Advanced Air Defense System
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq recognizes its urgent need to develop a defense system to prevent violations of its airspace and targeting of its Popular Mobilization Units (PMU) sites. Whether the solution will […]
Monetization Strategies for Development of Border Oil Fields
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Monetization Strategies for Joint Development of Border Fields in MENA Region Many hydrocarbons fields and exploration blocks, with billons barrels of petroleum, straddle sovereign borders (both onshore and offshore) in the Middle […]
$20m Order for US Trucks in Iraq
By John Lee. Navistar Defense has been awarded a $19,847,322 firm-fixed-price Foreign Military Sales (Iraq) contract for cargo trucks (6x6 General Transport Trucks, 6x6 Ton Recovery Wrecker and GTT spares). Bids were solicited via the internet with one received. Work will be performed in Lisle, Illinois, with an estimated completion date of May 15, 2020. […]