Iraq Investment Forum Postponed
Iraq's National Investment Commission (NIC) has announced the postponement of the Iraq Investment Forum, which had been scheduled to take place on 14-15 June 2025.
The announcement attributed the delay to "unforeseen organisational and technical reasons," but it is generally understood to be due to the rapid escalation of tensions in the region following the Israeli military strikes on Iran, and Iran's subsequent retaliation.
On Friday, the Iraqi Ministry of Transport confirmed the suspension of all air traffic and the temporary closure of Iraqi airspace until further notice.
A new date for the event will be announced once necessary arrangements are completed to ensure a level of organisation that reflects Iraq's investment potential and supports effective public-private sector partnerships.
The Commission reaffirmed its commitment to the success of this important event and its dedication to showcasing investment opportunities across key sectors of the Iraqi economy.
(Source: National Investment Commission)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Iraqi News
41 minutes ago
- Iraqi News
Iraq signs contract for fifth submarine cable, aims to rival Suez Canal as transit hub
Baghdad ( – Iraq's Minister of Communications, Hiyam Al-Yasiri, announced today, Tuesday, the signing of a contract for the country's fifth submarine cable with the United Arab Emirates-based company, Breeze. The strategic agreement is a cornerstone of Iraq's vision to become a major overland communications corridor for international traffic between Asia and Europe, rivalling traditional sea routes. Speaking during the signing ceremony, Minister Al-Yasiri stated that the new cable is a success story for the Ministry of Communications. She highlighted that for the past 15 years, Iraq had only two inactive submarine cables. In just the last three years, the country has now established five cables and is working on a contract for a sixth, a rapid expansion aimed at modernizing Iraq's digital infrastructure. According to Al-Yasiri, the submarine cables, which land in the port of Faw, serve a dual purpose: first, to add massive internet capacity within Iraq to improve service quality and lower prices for citizens; and second, to enable international 'transit' communications to pass overland through Iraq to Europe via Turkey. The ministry's goal is to establish the Iraqi land corridor as a competitive alternative to the maritime routes through the Red Sea and the Suez Canal. The minister revealed that Iraq has several transit networks either under implementation or in the contractual phase. These include the existing 'Civilizations Road' network with IQ Company, which has already contributed to state revenues, and a planned transit network along the new 'Development Road' project. Al-Yasiri also mentioned ongoing land transit network projects with Qatar's Ooredoo and the UAE's Breeze. Additionally, a consortium of companies including AXA, GCX, and Horizon has been given approval to create a single Iraqi-Turkish land transit network, further cementing Iraq's strategic position as a digital gateway.
Iraqi News
41 minutes ago
- Iraqi News
Iraq's five-year development plan to generate $540 billion
Baghdad ( – The spokesperson for the Iraqi Planning Ministry, Abdul-Zahra al-Hindawi, revealed on Saturday that Iraq is expected to generate revenues of 710 trillion Iraqi dinars ($540 billion) over the 2024-2028 national development plan. In a statement to the Iraqi News Agency (INA), al-Hindawi explained that oil will account for the highest part, projected at 631 trillion Iraqi dinars ($481.6 billion), with non-oil income reaching 79 trillion Iraqi dinars ($60.3 billion). The Iraqi official stated that the strategy calls for more than 241 trillion Iraqi dinars (nearly $184 billion) in investment to attain a 4.24 percent annual economic growth rate. The public sector is planned to invest 157 trillion Iraqi dinars (approximately $120 billion), while the private sector will contribute 84 trillion Iraqi dinars ($64.13 billion), according to al-Hindawi. The Iraqi official elaborated that the 2024-2028 plan intends to reduce unemployment to 10 percent from the present 13 percent. Al-Hindawi stated that the plan aims to keep inflation under control in order to protect vulnerable individuals and promote job opportunities. The level of poverty is expected to fall to less than 15 percent throughout the five years. The strategy also intends to lessen dependency on oil by diversifying revenue sources and promoting growth in non-oil industries.
Iraqi News
41 minutes ago
- Iraqi News
Iraq studies oil export routes via Syria and Lebanon after meeting with Syrian minister
Baghdad ( – Iraq's Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani Al-Sawad, announced today, Tuesday (August 12, 2025), that Iraq is studying proposals to export oil through the Baniyas pipeline in Syria and the Tripoli pipeline in Lebanon. The announcement came following a meeting with his Syrian counterpart, Mohammed Bashir, to discuss cooperation in the oil, gas, and energy sectors. According to a statement from the Ministry of Oil, Al-Sawad emphasized the deep historical ties between the two nations and the importance of continued cooperation. He highlighted Iraq's plans to diversify its crude oil export outlets in light of increased production capacities and the need for greater flexibility in export operations. The discussion focused on the Iraq-Syria oil export pipeline, which was a key export route in previous decades, and the importance of either renewing or rehabilitating it. Al-Sawad added that Iraq has achieved significant milestones in gas investment and oil refining and is working to increase export capacities from its southern ports and resume exports via the Turkish pipeline to the Ceyhan port. He also mentioned that the Basra-Haditha pipeline project, with a capacity of 2.25 million barrels per day (BPD), would secure export quantities through the aforementioned outlets and supply crude oil to Iraqi refineries. Al-Sawad noted that Iraq has achieved self-sufficiency in diesel and kerosene production and is set to become self-sufficient in gasoline production by the end of the current year. The two sides agreed to form a joint committee to study the condition of the Iraqi-Syrian pipeline and the feasibility of resuming exports through it. The committee will also consider involving an international consultant to determine the pipeline's operational viability. The Syrian minister, for his part, expressed gratitude for the discussions and stressed the importance of regional cooperation to restore Syria's oil industry. He acknowledged that the pipeline had been subjected to sabotage and aging, necessitating rehabilitation or renewal. The discussions also extended to investment, with the presence of Haider Mohammed Makkiya, Head of the National Investment Commission, and water resources, with Minister of Water Resources Aoun Dhiab in attendance. Dhiab affirmed the necessity of adhering to agreements for water flow through the Euphrates River.
