Mazda enters Iraq with Al-Uroush as distributor
Baghdad (IraqiNews.com) – Mazda Motor Corporation has officially appointed Al-Uroush Automotive as its exclusive distributor in Iraq.
The announcement was made in Japan during a ceremony attended by Al-Uroush Automotive CEO Sabah Abdul Latif Al-Salem and Mazda's General Manager of Global Sales and Marketing, Manabu Osoga.
As part of the first phase of this partnership, Al-Uroush Automotive will establish two integrated facilities in Baghdad and Sulaymaniyah. These centers will offer sales, after-sales service, and spare parts, delivering a comprehensive Mazda experience to Iraqi customers.
This move marks the beginning of an ambitious development plan that aims to expand Mazda's presence throughout Iraq. Future phases will include the opening of additional facilities in Erbil and Basra.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Iraq Business
13 hours ago
- Iraq Business
Iraq Launches QR Code Platform to Combat Counterfeit Goods
By John Lee. Prime Minister Mohammed Shia Al-Sudani reaffirmed his government's continued support for the industrial sector, the modernisation of the banking system, and tighter oversight at border crossings to block the entry of substandard goods. Speaking on Thursday at a ceremony held by the Iraqi Federation of Industries (IFI) to mark National Industry Day , the Prime Minister officially launched a national QR code platform for Iraqi industrial products. This digital initiative is intended to: Safeguard the authenticity of Iraqi goods Prevent the circulation of counterfeit products Strengthen the identity of local brands Prepare Iraqi goods for export through compliance with global supply chain standards Improve international market access Boost confidence in Iraqi manufacturing abroad Support economic growth and digitisation Accelerate digital transformation in production and retail According to a press release, the initiative reflects the government's broader strategy to revitalise local industry, improve trade standards, and align with international best practices in product verification and logistics. (Source: PMO)
Iraq Business
13 hours ago
- Iraq Business
Asiacell and China Mobile partner on Digital Transformation
By John Lee. Asiacell and China Mobile International (CMI) have signed a Memorandum of Understanding (MoU) to jointly deliver comprehensive digital and telecom solutions in Iraq, with a strong focus on B2B and enterprise services. The agreement aims to support Iraq's broader digital transformation by leveraging CMI's global technical expertise and real-world use cases to empower Iraqi enterprises through innovative, scalable, and efficient digital infrastructure. Alex Lee, CMI's General Manager for the Middle East, expressed enthusiasm about the partnership: "We are excited to work with Asiacell to unlock new opportunities in Iraq. Our shared vision for a digitally connected world aligns with the tremendous growth potential of this market." Asiacell CEO Amer Sunaa added: "This marks a milestone in Iraq's digital journey. Partnering with CMI reinforces our commitment to delivering world-class telecom and IT solutions that meet the evolving needs of businesses across the region." The partnership will focus on international connectivity, enterprise services, and emerging technologies to boost innovation and sustainable growth across key sectors in Iraq. (Source: Asiacell)
Iraq Business
13 hours ago
- Iraq Business
Iraq announces Major Banking Sector Overhaul
By Padraig O'Hannelly. Iraq is embarking on a comprehensive restructuring of its banking sector with the assistance of leading international consultancy firms, according to Dr Salih Salman, Advisor to the Iraqi Prime Minister, speaking at the Iraq Britain Business Council (IBBC) Spring Conference in London on Tuesday. The Iraqi government has appointed Ernst & Young to restructure six of the country's seven state-owned banks, including the Industrial Bank, Real Estate Bank, Rafidain Bank, and Rasheed Bank. The Trade Bank of Iraq (TBI) has separately engaged K2i and KPMG to help restructure its internal and external operations to meet international standards. Dr Salman revealed that Rafidain Bank, Iraq's largest state-owned institution, will be reincarnated as the First Rafidain Bank with government participation reduced to less than 24 per cent. The remaining shares will be offered to private banks and international investors. The restructuring plan is expected to be finalised and approved by the Iraqi government by the end of the year. The private banking sector is also undergoing reform following a contract signed between the Central Bank of Iraq (CBI) and Oliver Wyman. This two-to-three-year project will result in recommendations for private banks to either exit the sector, comply with international standards, or merge with other institutions. Iraq has made significant progress in electronic payment systems adoption, with financial inclusion rising from less than 10 percent in 2018-2019 to approximately 40 percent currently. The number of debit and credit cards has reached 60,000-70,000, whilst bank accounts have grown to 22-23 million. From June 2025, all government payments will be made electronically, with cash payments prohibited across government institutions. The Iraqi government has launched awareness campaigns to encourage public adoption of electronic payment systems, moving away from the traditional cash-based culture. The government has also introduced the Riyada programme, operated in partnership with the Central Bank of Iraq, to provide financing and training for small and medium enterprises. The initiative offers a registration platform where participants can access training and potential financing opportunities. Dr Salman emphasised that Iraq remains open to foreign investment and international consultancy services across all sectors, including legal, financial, accounting, auditing, and compliance services. The reforms aim to integrate Iraqi banks into the global financial system after decades of isolation due to sanctions and frozen assets. Since November 2022, all bank transfers in Iraq have been processed through a Central Bank platform in cooperation with the Federal Reserve of the United States, marking Iraq's re-entry into global financial systems. The country now works with approximately 30 overseas banks, though challenges remain in opening international banking relationships. The comprehensive banking reforms represent a significant shift towards international standards and greater private sector participation in Iraq's financial sector. (Picture credit: IBBC)
