By John Lee. The Iraqi Ministry of Communications has announced internet penetration reaching 82.9 percent of the population by the end of 2024, up from just 44.3 percent in 2019, according to official data from the International Telecommunication Union (ITU). Key components of the Ministry's strategy include the rapid expansion of the FTTH (Fibre to […]
By John Lee. The MENA Fintech Association (MFTA) has launched its Iraq Chapter, according to a report from Arqam. It says it has appointed Iraqi-Canadian entrepreneur Bahaa Abdul Hadi, co-founder of International Smart Card (ISC) and architect of Iraq's Qi Card biometric payment solution, as the Chairperson. "The future of Iraq is digital, and fintech […]
By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani has underscored the importance of ensuring that new residential cities meet the needs of citizens, during a site visit to the under-construction Al-Jawahiri City (pictured), west of Baghdad. The Prime Minister inspected the project, launched in December 2023, as part of his government's housing initiative. He […]
By John Lee. In a follow-up to last week's report on the state of the Iraqi economy, the International Monetary Fund (IMF) has issued a new 19-page report titled: "Unlocking Iraq's economic potential: The role of structural reforms in boosting medium-term non-oil growth." Click here to download the full report. To browse our comprehensive library […]
By John Lee. Iraq's Minister of Industry and Minerals, Professor Khaled Battal Al-Najm, has instructed the development of modern, environmentally friendly cement plants in the Badoush and Hammam Al-Alil complexes in Nineveh province. These new facilities will replace outdated plants built in the 1950s that still use the wet process. During his visit to the […]
By John Lee. In a landmark move to protect Iraq's agricultural legacy and strengthen its food security, the foundation stone has been laid for the country's first-ever Gene/Seed Bank, located in Hawari Shar Park, Sulaymaniyah. The facility is being funded by the European Union (EU) and implemented by the Food and Agriculture Organization of the […]
By John Lee. The Trade and Economic Research Centre (TREC) has signed a cooperation agreement with the Federation of Iraqi Chambers of Commerce, aiming to bridge the gap between academic research and Iraq's commercial and economic realities. The partnership seeks to promote a knowledge-based economy by translating theoretical studies into practical policies that enhance market […]
By John Lee. The Ministry of Trade has confirmed that Iraq's oil exports to the United States will not be affected by the newly announced 30-percent U.S. tariff, which was introduced by President Donald Trump to address the trade deficit with Iraq. Trade Ministry spokesperson Mohammed Hanoun said that oil exports are exempt from the […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani received Richard Howe, Executive Vice President of Shell, on Thursday to discuss expanding cooperation in Iraq's energy sector and exploring further investment opportunities. The meeting addressed the execution of major energy projects under existing contracts with international companies, particularly in natural gas investment aimed at achieving self-sufficiency. […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani has inaugurated the second phase of the wastewater treatment plant in Najaf, which now provides an additional 100,000 cubic metres per day of treatment capacity. He also launched implementation works for the Al-Nidaa district sewage project and the third phase of the Najaf treatment plant, which will […]
By John Lee. The International Monetary Fund (IMF) has said that Iraq's economy is facing considerable headwinds, with non-oil sector growth slowing from 13.8 percent in 2023 to an estimated 2.5 percent in 2024, impacted by reduced public investment, a weaker trade balance, and financing constraints that led to the accumulation of arrears. Real GDP […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani has laid the foundation stone for the expansion of the Najaf [Al-Ashraf] refinery, a strategic project that will increase refining capacity by 70,000 barrels per day. The ceremony, held on Wednesday, marks the start of execution works for the project, which forms part of the government's broader […]
