Category: Iraq Industry & Trade News

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AA to distribute Laboratoires Gilbert in Iraq

Iraq Britain Business Council (IBBC) member AA for Global Trading and Commercial Agencies has announced that it has started importing the products of Laboratoires Gilbert of France to Iraq, as per an agreement signed in 2020.

Based in France’s Normandy region, Laboratoires Gilbert manufactures and markets 30 brands and 1,900 references such as Physiodose, Physiolac, Dolodent, Luc and Léa, Comptoir Aroma, Algotherm, Laino, Hei Poa, and Comptoir du Bain among others.

Currently, AA is the commercial agent of several brands including Metrex Research (USA), Laboratoires Gilbert (France) and Palmer’s (USA).

(Source: IBBC)

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Japan extends $300m Loan for Basra Refinery

By John Lee.

Japan’s Minister for Foreign Affairs, Motegi Toshimitsu, visited Iraq on Saturday, meeting with Foreign Minister Fuad Hussein, Prime Minister Mustafa Al-Kadhimi, and President Barham Salih.

Minister Motegi announced that Japan intends to extend the “Basrah Refinery Upgrading Project (Phase 3)” Yen loan project (up to the amount of 32.7 billion yen) [$300 million], and expressed his hopes that this project would contribute to providing the stable supply of energy and to creating jobs in Iraq. In response, Minister Hussein expressed his gratitude.

Minister Motegi added that he appreciates the publication of the “White Paper for Economic and Financial Reforms“, and stated that Japan looks to support Iraq’s reform efforts together with the international community through the “Iraq Economic Contact Group.”

Both sides also exchanged views on measures to prevent the spread of COVID-19 and means to improve the business and investment environment in Iraq.

(Source: Govt of Japan)

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Young Female Entrepreneur strives to Transform Medical Sector

From the International Labour Organization (ILO). Re-published with permission by Iraq Business News.

Young female entrepreneur strives to transform the medical sector in the Kurdistan Region of Iraq

Twenty-five-year-old Nasreen Hassan has been working for years on a business idea that will help hospitals and medical centres in the Kurdistan Region of Iraq improve and maintain their medical equipment.

Having witnessed years of conflict, Nasreen says that she wants to do her part in saving and improving the lives of women, men and children, especially in light of the current worldwide pandemic. “The number of weapons and rockets outnumber medical equipment,” said Nasreen. “And I want to correct this.”

“Just think about what will make the world better, not only for you, but for everyone around you,” said Nasreen. “For me, I want to produce, install and provide maintenance for medical machinery locally. This will help create jobs for young people and open new opportunities for many.”

“But most importantly, it will save and improve lives.”

Unable to pursue a degree in medical engineering, the IT graduate recently joined the ILO’s Start Your Business (SYB) training programme in Iraq, aimed at giving her the knowledge and tools needed to set up her business.

Start Your Business is part of the wider Start and Improve Your Business (SIYB)  training package designed to respond to the progressive stages of business development. The training in Iraq aims to support young refugees, internally displaced people, and vulnerable host community members who are interested in setting up their own small businesses or improving existing ones.

Nasreen and 140 other potential entrepreneurs joined a six-day intensive training in Dohuk in July 2021, that centred on nine courses designed to enhance their readiness to start a business, prepare their business plan and evaluate its viability .

“The most beneficial part of the training was the business plan, even though I already had some knowledge on the subject, but not in such detail or depth,” said Nasreen. “From the first day of the training with the ILO, I have been working on my business plan, one step at a time. I have been revising it and adding new ideas on the way, because the more we moved forward with the training, the more our ideas expanded, reflecting the reality more and more.”

The training is part of efforts being implemented by the ILO under the “Partnership for improving prospects for forcibly displaced persons and host communities,” also known as PROSPECTS , a multi-agency programme supported by the Government of the Netherlands.

For the ILO one of the key areas of focus of PROSPECTS in Iraq is to support youth to transition from learning and skills development to decent work, through a range of wage employment and self-employment interventions, in collaboration with other PROSPECTS partners, including UNICEF.

This includes training trainers from different organizations  on ILO’s training package, including banks and microfinance institutions, trainers from UNICEF-supported youth centres, and local NGOs supporting Small and Medium Enterprises. It also involves referring youth (including Nasreen who recently received life skills training through ACTED at a UNICEF-supported youth centre) to the ILO for further support.

The programme will also link some of the trained youth with access to affordable financial services, to help them start up their businesses and establish a decent livelihood. This is part of an initiative implemented in partnership with the Central Bank of Iraq  that was launched in March 2021.

For Nasreen, there are many hurdles to overcome and training opportunities to pursue. Yet despite the long journey ahead, she is determined to see her business plan come to life.

“I need financial support and I need more training, which will help me reach a stage where I have the technical know-how on establishing my business, even if it takes twenty years,” said Nasreen. “I would like to say to other young people in my position that they should also pursue their goals; whether in terms of studying or employment. Don’t let anything get in your way.”

PROSPECTS is a strategic four-year global partnership that supports host communities and displaced populations in eight countries across East and North Africa and the Arab States and which also includes the International Finance Corporation (IFC), the World Bank (WB) and the United Nations High Commissioner for Refugees (UNHCR).

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Amid Iranian Gas Shortage, Iraq searches for Alternatives

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News.

Amid Iranian gas shortage, Iraq searches for alternatives

Iran’s dilapidated gas infrastructure has limited its transfers to Iraq, adding to Iraq’s own energy crisis.

Click here to read the full story.

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Iraqi Cabinet Approves TotalEnergies’ Projects

By John Lee.

The Iraqi cabinet has approved the agreement between the Ministry of Oil and French company TotalEnergies to implement four major energy projects in the country:

  1. Plants to collect and refine associated natural gas at the fields of Artawi [Ratawi], West Qurna 2, Majnoon, Tuba [Subba] and Lahais [Luhais]. This will include a Central Gas Complex at Artawi;
  2. Development of the Artawi field;
  3. The integrated seawater project [Common Seawater Supply Project (CSSP)?], which the ministry has been trying to implement for more than ten years; and,
  4. A 1,000MW solar energy plant.

The project was originally agreed in March.

(Source: Govt of Iraq)

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Iraqi Cabinet allocates $34m for Emergency Electricity Work

By John Lee.

Prime Minister Mustafa Al-Kadhimi chaired the regular session of the Iraqi cabinet on Tuesday.

Addressing the ongoing crisis in electricity supply, the cabinet agreed to allocate 50 billion Iraqi dinars ($34 million) for emergency expenses and maintenance of the electricity infrastructure.

This will be achieved by profitable Ministry of Oil companies lending the funds to the Ministry of Electricity companies.

(Source: Govt of Iraq)

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Iraq, Jordan and Egypt agree Energy Projects

By John Lee.

Egypt’s President Abdel Fattah al-Sisi and Jordan’s King Abdullah arrived in Baghdad on Sunday for a fresh round of talks aimed at strengthening cooperation between the countries.

It is the first visit by an Egyptian head of state to Iraq since Iraq’s invasion of Kuwait in 1990.

The leaders agreed on the importance of the electrical interconnector project between the three countries, and linking the gas transmission networks between Iraq and Egypt through Jordan.

They also pushed for the completion of the Basra-Aqaba crude oil pipeline, which will provide a new outlet for the export of Iraqi oil through Jordan.

(Source: Govt of Iraq)

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Masdar to Develop Solar Projects in Iraq

By John Lee.

Masdar, a subsidiary of the Abu Dhabi-based  Mubadala Investment Company, has signed a strategic agreement to develop 2,000 MW of solar photovoltaic (PV) projects in Iraq.

Heads of Agreement (HOA) were signed at a virtual ceremony by His Excellency Majid A. Hantosh, Minister of Electricity, the Republic of Iraq, Her Excellency Suha Al-Najar, President of the National Investment Commission (NIC) for the Republic of Iraq, and Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar.

The signing took place in the presence of His Excellency Ihsan Abdul Jabbar Ismail, Minister of Oil for the Republic of Iraq, His Excellency Suhail Al Mazroui, Minister of Energy for the UAE, and His Excellency Dr Thani Al Zeyoudi, the Minister of State for Foreign Trade for the UAE.

His Excellency Ihsan Abdul Jabbar Ismail, Minister of Oil for the Republic of Iraq, said:

“The Government intends to increase and enhance the national production of clean energy. Through this agreement with Masdar, we will generate 2 GW of solar power through projects in central and southern Iraq.

“Iraq is targeting 20 to 25 percent of energy coming from renewable sources, rather than fossil fuels, equivalent to 10 to 12 GW. This agreement with Masdar, a global leader in renewable energy, is an important step in the development of the clean energy investment sector and the exploitation of solar energy in Iraq.“

HE Suhail Al Mazroui, Minister of Energy for the UAE, said:

“We are grateful to the Government of Iraq for providing Masdar with the opportunity to contribute to the implementation of the Republic of Iraq’s renewable energy strategy. The UAE is committed to working with the Republic of Iraq to develop sustainable energy resources. This initiative also highlights the importance of public and private sector partnerships in finding affordable solutions.

“Masdar has been a pioneer in developing clean energy projects, and is now active in more than 30 countries around the world, with a total value of more than US$20 billion and a production capacity exceeding 11 gigawatts. Masdar will leverage the expertise it has built up through these projects to support the Republic of Iraq on its clean energy journey.“

HE Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, underlined the strong brotherly relations that unite the UAE and the Republic of Iraq, supported by many deep political, social and economic ties, and driven by the keenness of the leadership of the two brotherly countries to enhance prospects for cooperation in all fields, especially vital areas of common interest.

He pointed out that the cooperation between Masdar and the government of the Republic of Iraq will add significant value to the Emirati and Iraqi partnerships in addressing the challenges posed by climate change and keeping pace with the growing demand for energy. It will also contribute to supporting Iraqi efforts aimed at implementing quality projects to produce 10 gigawatts of solar energy by 2025.

HE Al Zeyoudi further affirmed the UAE’s keenness to facilitate channels of technology transfer, enrich knowledge and encourage the exchange of the best and most successful experiences to promote economic development in Iraq.

HE Suha Al-Najar, President of the National Investment Commission for the Republic of Iraq, said:

“The project is one of the largest renewable photovoltaic solar projects in the Middle East, and falls within the vision of Iraq’s sustainable transition plan 2021- 2030. The project delivers 2 GW of green energy for Iraq national network. It opens the way for cooperation and knowledge exchange between the two parties in the field of energy planning and sustainable transition. A steering committee of both parties is established for this goal. The business model is Independent Power Producer, and the investment will be according to law13-2006 of the National Investment Commission.

“The project ensures clean and sustainable energy production for different areas in Iraq, and displaces carbon dioxide emissions resulting from fossil fuel generation. The project will also provide new jobs in the energy sector, with the manpower for project construction and operation beyond 2,000.“

Mohamed Jameel Al Ramahi, CEO of Masdar, said:

“This agreement will define the path for the development of clean energy solutions that will drive growth in the Republic of Iraq and help the Government meet its climate goals. The UAE shares Iraq’s commitment to diversify away from a dependence on oil & gas, and to accelerate the transition to clean energy sources. We are proud to support the Government of Iraq on this vital stage in its clean energy journey and we will leverage our expertise to deliver a more sustainable future for the nation.”

(Sources: Masdar, Govt of Iraq)

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