Capital Increase Product Improved Business Climate

Increase Capital BusinessBaghdad – Mostafa Hashemi: said economic reports that Iraq could be making progress in economic development in spite of all the circumstances of being possessed fertile ground for foreign investments diversified, while reported economic researcher that there are challenges to be met by giving the private sector the opportunity to engage in the development process.

Reports indicate that there is an increase evident in the entry of foreign investment companies specialized in the field of infrastructure and concrete achievements on the ground service of the national economy is what makes foreign companies urges paced to seize the opportunities to contribute to the country’s growth and prosperity. Continue reading

Iraq Current Oil Export Capacity

iraq oil capacityWorld Fuel demands are increasing day by day. OPEC is looking towards oil productions of Iraq to share the international supplies. At the same time when Iraq needs more oil exports, sectarian and political issues are increasing in the country. According to the news posted on 27th May 2013, the average oil production in May was 2.6 barrels per day. Continue reading

Colony for Workers in Zubair OilField

zubair oilfieldA lot of development projects have started in Iraq. In all the sectors especially in the oil field. The revenue generated by the oil sales is the 93% of the total budgeted revenue in 2013. So many multinational companies have done oil agreements with Iraq government. On the other hand, the Iraq government is busy in adding more and more development projects for the restoration of infrastructure, minimizing unemployment, providing basic necessities to their citizens and enhancing the living standards of their people. Continue reading

UN is Ready to Support Iraq Economy

The UN Industrial Development Organization has negotiated different possible options with Iraqi Ministry of Finance to develop Iraq economy. The meeting was held on 13th of March 2013. The General Authority For Free Zones announced that industrial free zone would be established in various provinces of Iraq. In the joint negotiations, various technical aspects were discussed. The statement explains that UN Industrial Development. Continue reading

Network Expansion in Iraq

Critical law and order situation remained a vital bottleneck in bringing the foreign companies in the country for development projects. A series of wars destroyed complete infrastructure in Iraq in the last two and half decades. The current Maliki government is looking for some foreign companies for the construction of infrastructure in the whole country. A number of agreements have already been done in this regard. Apart from oil and gas, agriculture and finance, projects for the development of communication sector have also been offered to international professional companies. Continue reading

Iraq Food Imports in 2012

iraq food importsInnocent Iraqi people came across a series of wars in the last 3 decades. They lost their beloved ones, but at the same time, they deprived of basic necessities of life. The Grain Board of Iraq GBI established a state-run food rationing system in 1990 to facilitate their citizens. Unites Nations applied trade sanctions on Iraq due to the aggressive political moves of formal ruler Saddam. The poorer citizens had to pay the penalty as they were starving of eating food items at that time. The food rationing system was put into place to allow the Iraqi people to get required quantities for almost no charge. Continue reading

USAID Program Will Support Iraqi Citizens

The U.S. government has supported Iraq for many years to lift the standards of the Iraqi people at the international level. A number of development projects are in progress at the moment. Iraq Business News Has posted news on behalf of the U.S embassy about the agreement between the Iraq Ministry of Health and United States Government. According to IBN, the U.S Agency for International development has signed an agreement with the Iraq Health Ministry to frame the understanding for support the ministry to make services, delivery and management result oriented and strong. Continue reading

Burgan Bank Group Wins the Best Performance Award Again in MENA

burgan bank groupIraq Banking and Finance sector have been facing macro economic issues for the last many years. The current Iraq government is still fighting with speculation, inflation and counterfeits across the country. The Central bank of Iraq CBI has taken many initiatives to cater all these financial problems. Multinational banks like BLF and SCB are ready to open new branches in many cities of Iraq. The IMF is keeping an eye on the overall financial proceedings in the country. Continue reading

The VP Iraq Finance Committee is Optimistic About Iraqi Dinar

iraq finance committeeDinar deal’s reported that the Voice President of Iraq Finance Committee had expressed his views and announced that Iraq dinar will return to its previous status. He discussed the root causes and remedies to this issue. He advised CBI to take necessary and prompt actions for the RV of Iraqi Dinar. Continue reading

Agility Will Provide Logistic Services in Majnoon Iraq

Services in Majnoon IraqIraq is exporting millions of crude oil to the neighboring and Asian countries. Business agreements are being done with top oil companies in this regard. Abandon oil and gas reserves of Iraq are at the 2nd highest level in the world after Saudi Arabia. Many oil companies have already started their exploration task in different provinces. Iraq is producing 3 million barrels per day. Egypt and Jordan have done agreements with Iraq. Apart from Middle Eastern companies, China and India are also in the same boat. Continue reading