By John Lee. Prime Minister Mohammed Shia Al-Sudani officially opened the new Ramada Plaza tourist hotel in Mosul on Wednesday, marking a key investment by the private sector in Nineveh province. Located on the western bank of the Tigris River, the Ramada Plaza hotel features 148 rooms and suites, a variety of restaurants, four modern […]
By John Lee. A new report from the International Monetary Fund (IMF) has said that the restructuring of state-owned banks (SOBs) can foster the development of the private sector and improve growth. It adds: "Strengthening the financial sector can support private sector credit, fostering investment and growth. "To this end, the authorities are finalizing a […]
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. Iraqi Prime Minister Mohammed Shia Al-Sudani inaugurated the new 'Construction Basket' initiative on Wednesday, an innovative programme designed to provide citizens with access to building materials at competitive prices and on convenient instalment terms. The centre, located at the newly-opened Cooperation Center for Construction, is a joint venture between the Ministry of […]
By John Lee. The Central Bank of Iraq (CBI) has launched the "Knights" [Al Fursan] programme, a locally-developed initiative aimed at fostering youth entrepreneurship and supporting the private sector's role in national economic development. The launch event, held at the CBI's headquarters on 25 June 2025, was attended by Governor Ali Mohsen Al-Allaq, who emphasised […]
By John Lee. The Iraqi private sector confronts significant obstacles that must be addressed to unlock the country's economic potential, according to Professor Frank Gunter of Lehigh University, speaking at the Iraq Britain Business Council (IBBC) Spring Conference in London recently. Professor Gunter identified four critical challenges hampering private enterprise development in Iraq: Finance: Iraqi […]
By John Lee. Under the patronage of Central Bank Governor Ali Mohsen Al-Allaq, a workshop has been launched to support the implementation of the bank's new strategy to increase private sector lending, with a focus on small and medium-sized enterprises (SMEs). In his opening remarks, Governor Al-Allaq emphasised the bank's commitment to addressing challenges in […]
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani has officially opened the United Arab Company for Food Industries factories in Al-Mahmoudiya, south of Baghdad. The first phase includes pasta and noodle factories built on 20 percent of the 123-dunam [12 hectares; 30 acres] site, with an investment of 128 billion Iraqi dinars [$98 million]. […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani chaired a high-level meeting with the heads of Iraqi banks on Monday, reaffirming his government's commitment to banking reform as a pillar of broader economic revitalisation. He directed all banks to simplify procedures, embrace modern technologies, and encourage public confidence by stimulating deposits. The Prime Minister announced […]
By John Lee. Prime Minister Mohammed S. Al-Sudani has launched the operations of the Permanent Council for the Development of the Private Sector in Iraq. The initiative aims to strengthen the role of the private sector in the national economy and address key legislative and institutional barriers. Prime Minister Al-Sudani highlighted the Council's responsibility to […]
By John Lee. The General Company for Mining Industries, a subsidiary of Iraq's Ministry of Industry and Minerals, has announced the near-completion of a solvent production plant in Salah Al-Din province, developed in partnership with the private sector. According to Ahmed Faleh Ali, the company's Director General, the plant has reached 85% completion and is […]
By John Lee. Prime Minister Mohammed S. Al-Sudani inaugurated the Taawon Hypermarket shopping center in Al-Bayaa, Baghdad, on Wednesday, offering food and goods at subsidised prices. Through a televised conference, he also launched five additional shopping centers in Al-Hurriya, Al-Salihiya, Al-Shaab, Palestine Street, and Jamila, alongside construction work for 23 similar projects in Baghdad and […]
