Iraq to showcase 141 pre-approved projects at first-ever national investment forum
Baghdad (IraqiNews.com) – Iraq's National Investment Commission (NIC) will present 141 fully pre-approved investment opportunities at the first-ever Iraq Investment Forum to be held in Baghdad, NIC Head Haider Makiya announced Tuesday (June 10, 2025). The event is being organized in coordination with the Iraqi Economic Council and under the direct supervision of the Prime Minister's Office.
Makiya stated the forum has strategic goals to accelerate the country's economic development. The 141 ready-to-go opportunities will be presented to local, Arab, and foreign companies, covering diverse sectors including industry, housing, renewable energy, telecommunications, pharmaceuticals, and agriculture.
The event aims to attract a large number of international firms for infrastructure projects and to bring global expertise to Iraq. Over 300 international entities, including countries and companies, are expected to attend, making it a historic opportunity to showcase Iraq's investment potential.
This initiative aligns with the government's strategy to boost the economy and create jobs for Iraqis, as mandated by the Investment Law.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Iraqi News
2 hours ago
- Iraqi News
US pulls staff from embassies in Iraq, Kuwait, and Bahrain
Baghdad ( – The United States is reducing staff at its embassies in Iraq, Kuwait, and Bahrain due to growing regional security threats, officials confirmed Wednesday. The move follows warnings from Iran targeting U.S. bases should a conflict erupt. Military families in Bahrain have been authorized to leave temporarily, while non-essential personnel are also being withdrawn from Kuwait. The situation is further complicated by reports from UK Maritime Trade of a looming military escalation in the Gulf of Oman and the Strait of Hormuz. Iraq, home to 2,500 American troops and a strategic ally of both the U.S. and Iran, faces internal security challenges as some of its forces are aligned with Iran-backed armed groups. The U.S. maintains a widespread military footprint across the Arabian Gulf, with bases in Iraq, Kuwait, Qatar, Bahrain, and the UAE. Following the news of the embassy drawdowns, oil prices surged, with Brent crude climbing $3 to trade at $69.18 per barrel, according to Reuters.
Iraqi News
7 hours ago
- Iraqi News
Iraq's oil production fall by 59,000 barrels per day
Baghdad ( – A senior Iraqi official at the State Organization for Marketing of Oil (SOMO) revealed on June 2 that the country's oil output in May declined by 59,000 barrels per day as Iraq plans to accelerate measures to compensate for prior overproduction. Iraq's oil production quota rose by 49,000 barrels per day in May, reaching a total of 4.049 million barrels per day, as reported by S&P Global. Since April 2024, eight OPEC+ countries, including Iraq, have resumed their voluntary production cuts of 2.2 million barrels per day. The production limit was set to rise to 411,000 barrels per day in May, June, and July 2025. However, this increase coincides with its compensation plan, which is supposed to compensate for serial overproduction in 2024. In the most recent plan, announced by the OPEC secretariat in Vienna in April, Iraq pledged to produce oil less than its quota by 140,000 barrels per day in May. The volume of crude oil that Iraq exported by sea declined to 3.27 million barrels per day in May 2025 compared to 3.30 million barrels per day in April 2025. According to government sources, Iraq's oil exports in May and June 2025 are expected to be less than 3.2 million barrels per day to meet its OPEC+ production quota. During the first five months of 2025, Iraq's crude oil exports averaged approximately 3.33 million barrels per day, compared to 3.45 million barrels per day during the same period in 2024.
Iraqi News
18 hours ago
- Iraqi News
Iraq receives first batch of French Caracal multi-role helicopters
Baghdad ( – As part of the government's agenda to develop the capabilities of the country's armed forces, the Iraqi Ministry of Defense received on Tuesday the first batch of French Caracal multi-role helicopters. The Iraqi Ministry of Defense mentioned in a statement that these combat helicopters will enhance the Iraqi army's capabilities in the areas of tactical transport, support, and rescue operations. The step is part of a deal reached with Airbus in September 2024 to purchase 12 Caracal H225M multi-role combat helicopters. On April 30, the Iraqi Minister of Defense, Thabet Al-Abbasi, checked the first two helicopters at the airframer's headquarters in Marignane in southern France. The new helicopters will take the place of the older Mil Mi-17s and will be employed for different tasks such as fire support, attack, tactical troop transport, special operations, and counter-terrorism. Unknown numbers of the Iraqi Caracals will be modified with the HForce modular weapons system from Airbus Helicopters. Iraq and the major European aviation company Airbus reached a deal in early September to buy 14 military helicopters, including 12 Caracal H225M multi-role combat helicopters. A ceremony attended by the Iraqi Minister of Defense, officials from Airbus, and the French Ambassador to Iraq, Patrick Durel, was held in Baghdad to sign the deal, according to AFP. During a meeting in May with Eric Chevalier, the former French ambassador to Iraq, Iraqi Prime Minister Mohammed Shia Al-Sudani stated that Iraq is open to productive collaboration with French industries, particularly in enhancing the defensive capabilities of its military forces. In January 2023, Al-Sudani met in Paris with executives from Thales Group, Dassault Group, and Airbus to discuss a possible supply of military helicopters, radars, and Rafale aircraft to Baghdad.
