From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Beyond Hormuz: Can Iraq's 'Development Road' become a strategic corridor? The disruption of maritime flows through the Strait of Hormuz has underscored a structural vulnerability at the heart of the global economy. For […]
By John Lee. Iraq's National Investment Commission (NIC) has announced a new strategic vision aimed at delivering major projects to support Iraq's economy and sustainable development. The plan was presented during a meeting attended by members of parliament from the Reconstruction and Development bloc, where officials outlined a roadmap to advance investment activity and accelerate project […]
By John Lee. The International Finance Corporation (IFC), a member of the World Bank Group, is investing in Aloreen Company for Investments Limited to finance new port equipment and expand capacity at Umm Qasr, Iraq's only deep-water port. The financing package will support the procurement of: Four ship-to-shore cranes; Ten rubber-tyred gantry cranes. The investment […]
By John Lee. A $65-billion investment is planned to transform the Al-Tayeb border area into a multi-service economic city, according to the National Investment Commission (NIC). Commission Chairman Dr Haider Mohammed Makkiya (pictured) told the state-run Iraqi News Agency (INA) that Al-Tayeb is envisaged as an economic city covering more than 120,000 dunams, with total […]
By John Lee. Iraq's Ambassador to the Russian Federation, Abdul Karim Hashem Mustafa, met with Russian Deputy Foreign Minister for Economic Cooperation and Eurasian Integration, Alexander Anatolyevich Pankin (pictured), to discuss mechanisms for facilitating trade and enhancing investment cooperation between the two countries. According to the state-run Iraqi News Agency (INA), the meeting took place […]
By John Lee. The operational plan for the Development Road project has been reviewed, alongside progress on engineering designs and economic feasibility. The discussions were held during a meeting involving Oliver Wyman, the project's financial advisory firm, and BTP, the Italian engineering consultancy, at the headquarters of the Iraqi Republic Railways Company. Key points covered […]
By John Lee. A high-level review meeting has been held to assess progress on Iraq's strategic Development Road project, covering design, costs and operational planning. The meeting examined timelines proposed by the appointed auditing firm for completing reviews of rail and road designs, alongside discussions on design costs for both the railway line and the […]
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani has inaugurated the first 63-km segment of the Development Road, linking the Grand Faw Port to the international highway in Basra. The opening marks a major milestone in the nationwide infrastructure programme and forms part of the government's "Year of Continuing Achievements". The completed section connects Iraq's […]
By John Lee. On Monday, Prime Minister Mohammed Shia' Al-Sudani chaired a Board meeting of the Iraq Development Fund to review progress on key strategic and investment projects overseen by the fund. The meeting discussed the "Eduba" schools construction project, for which the first phase has been launched, and reviewed a Ministry of Finance report […]
By John Lee. The Italian consultancy BTP Infrastrutture has reportedly completed between 70 and 75 percent of the final designs and studies for Iraq's Development Road Project, which will link Basra to the Turkish border via a railway and international highway. Project Director Guido Bonini told the state-owned Iraqi News Agency (INA) that BTP has submitted […]
By John Lee. Turkey's Minister of Trade, Prof. Dr. Omer Bolat, has affirmed that Turkey will assume a key role in Iraq's reconstruction, supported by the experience of Turkish contractors who have completed projects worth $36.6 billion in the country. Speaking in Baghdad at the Iraq General Trade and Contracting Delegation Meeting -- organised by […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani on Saturday inaugurated the Iraq Investment Forum (IIF) in Baghdad, unveiling investment opportunities worth $450 billion [IQD 587 trillion] across more than 160 projects in various sectors. In his speech, Al-Sudani welcomed participants, praising the National Investment Commission (NIC), the Iraqi Economic Council (IEC), and supporting bodies. […]
