Latest news with #AlSudani
Iraqi News
3 days ago
- Business
- Iraqi News
PM Al Sudani inaugurates new food factories, touts private sector support & export incentives
Baghdad ( – Iraqi Prime Minister Mohammed Shia Al Sudani inaugurated new factories for the United Arab Food Industries Company Ltd. in Mahmoudiya, south of Baghdad, on Saturday (May 31, 2025), underscoring the government's commitment to bolstering the national industrial sector. The Prime Minister toured the modern facilities, which in their first phase include pastry and pasta/noodle production lines, representing a 128 billion IQD investment and currently employing 800 workers, with plans to expand to over 1,000. Al Sudani praised the project as a successful private sector initiative, terming such entities 'true partners' in advancing the national economy. He confirmed the government's readiness to facilitate further expansion and reiterated efforts to remove obstacles for private businesses. Crucially, Al Sudani highlighted a government commitment to support Iraqi-made goods for export with an 18% subsidy of the product's value. 'Domestic production will save significant foreign currency and create jobs,' Al Sudani stated, noting the private sector's role in reducing unemployment to 13%. He affirmed the government's role is to organize, support, and prepare the ground for the private sector to lead production.
Iraq Business
24-05-2025
- Politics
- Iraq Business
Iraq PM announces "Reconstruction and Development Coalition"
By Sinan Mahmoud for The National. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq PM Al Sudani to run in elections with new alliance His sight set on a second term in office, Iraqi Prime Minister Mohammed Shia Al Sudani has unveiled a new alliance to compete in the country's national election later this year. Click here to read the full article.
Zawya
23-05-2025
- Business
- Zawya
Iraq plans domestic borrowing to bridge $49bln deficit
Iraq intends to borrow again from the local financial market this year to bridge an expected budget deficit of 64 trillion Iraqi dinars ($49 billion), a government advisor said on Wednesday. OPEC's second largest oil producer after Saudi Arabia has projected an average oil price of $70 a barrel in its landmark three-year budget for fiscal 2023-2025 years. But the Arab nation sold its crude for nearly $75 in the first quarter of 2025 before prices plunged below the budgeted level due to the rising spectre of a global trade war and a recent decision by OPEC Plus to lift supplies by 411,000 barrels per day (bpd) for June. 'The government will adopt flexibility in the 2025 budget…this means that it will try to control expenditure,' said Mudhar Saleh, a financial advisor to Prime Minister Mohammed Al-Sudani. Saleh told Iraq's Al-Forat TV that priority in spending this year would be given to salaries to civil servants, pensions and social care, which affects 8 million Iraqis. 'The 2025 budget envisages a deficit of IQD 64 trillion while spending was forecast at IQD 200 trillion ($153 billion)…the Finance Ministry will resort to borrowing whenever needed to cover the deficit,' he said. In June 2023, Iraq approved a three-year budget for the period 2023-2025 based on an average oil price of $70 a barrel and crude exports of 3.4 million bpd. Iraq's parliament has yet to pass the 2025 budget as it has not been sent by the cabinet apparently for fears funds may be used in campaigns for parliamentary elections, which are scheduled for November. 'A key reason for the delay in sending the draft budget for 2025 to parliament is that the government does not want funds to be exploited in election propagandas,' parliament's finance committee member Jamal Kocher said last month. (Writing by Nadim Kawach; Editing by Anoop Menon)
The National
21-05-2025
- Politics
- The National
Iraq PM Al Sudani to run in elections with new alliance
His sight set on a second term in office, Iraqi Prime Minister Mohammed Shia Al Sudani has unveiled a new alliance to compete in the country's national election later this year. 'We have placed the interest of Iraq and Iraqis first and foremost,' said a statement by the alliance on the parliamentary election due to take place on November 11, adding that it will 'build on the significant strides that have been achieved' since Mr Al Sudani took office in October 2022. The new Reconstruction and Development Coalition includes Mr Al Sudani's Al Foratain Movement, The National Coalition led by former prime minister Ayad Allawi and The National Contract Coalition led by the chairman of the paramilitary Popular Mobilisation Forces (PMF) Falih Al Fayyadh, according to the statement. The US sanctioned Mr Al Fayyadh for his role in the quelling of pro-democracy protests in 2019 with the support of Iran's Quds Force. Other alliances include The Soumar Land alliance, which is led by the Minister of Labour and Social Affairs, Ahmed Al Asadi, The National Alliance of Solutions, led by one of the Prime Minister's advisers, Mohammed Sahib Al Daraji, Karbala Creativity Alliance, and The Generations Gathering. This year's election will be the sixth since the 2003 US-led invasion that toppled Saddam Hussein. The last one, brought forward in response to demands from a pro-reform protest movement that began in 2019 across central and southern Iraq, took place in October 2021. Mr Al Sudani was the candidate for the Iran-aligned Co-ordination Framework – the largest political group in the Iraqi parliament, with 138 out of 329 seats and consisting of Iran-backed political parties and armed factions. Since taking office, political and security stability has encouraged his government to launch a series of infrastructure projects and to introduce reforms to improve the country's business environment and public services. Several mega deals have been signed with major international companies as well as countries, mainly in the field of energy. 'Our goals include sustainable reconstruction, economic growth, infrastructure development; and strengthening security, stability and international relations,' the statement added. Bitter rivalry among political elites, mainly among the country's majority Shiites, delayed the process of forming a government for a year, after the October 2021 election. Shiite cleric and political leader Moqtada Al Sadr's efforts to form the government failed, despite his Sadrist bloc winning 73 of the 329 seats in parliament. His desire to form a majority government only with Sunni and Kurdish parties upset his rivals in the Co-ordination Framework. In June 2022, Mr Al Sadr ordered his MPs to resign from parliament and withdraw from the country's political process until it was purged of what he described as 'the corrupt'. There have been no indications yet about whether or not Mr Al Sadr will take part in the November election.
Iraqi News
17-05-2025
- Politics
- Iraqi News
Prime Minister: Advancing Fundamental Solutions to Address Root Causes of Regional Challenges
Baghdad-INA Iraqi Prime Minister Mohammed Shia' Al Sudani on Saturday reaffirmed Iraq's commitment to pursuing fundamental solutions aimed at tackling the root causes of the region's challenges, underscored by a spirit of brotherhood and responsibility. The Prime Minister said, in a speech he delivered during the opening of the 34th Arab Summit, hosted by the capital, Baghdad, in a statement from his media office, received by the Iraqi News Agency (INA):'Delivering his speech at the opening of the 34th Arab Summit hosted in Baghdad, Al Sudani said, 'I welcome you on behalf of the Iraqi people, and I welcome the guests of our summit—foremost among them, Pedro Sánchez, Prime Minister of the Kingdom of Spain, and the esteemed UN Secretary-General António Guterres.' He added, 'The eyes of our Arab peoples are upon you today, hoping that positions will be translated into real and practical responses to the challenges and threats we face.' The Prime Minister highlighted Iraq's foreign policy, stating, 'Iraq has adopted a foreign policy that prioritizes partnership and cooperation with its Arab brothers.,' emphasizing that 'Iraq's foreign policy is based on the principles of good neighborliness, non-interference in internal affairs, and non-alignment with regional or international axes.' Al Sudani further affirmed, 'We have supported dialogue-based solutions and contributed to bridging various gaps through productive diplomacy.' He underscored Iraq's vision for resolving regional crises, declaring, 'Our vision for ending crises and the sources of conflict in the region begins with the Palestinian people attaining their full right to a free and dignified life on their land and an end to the ongoing aggression.' He stated that the 'The genocide committed against the Palestinian people has reached a level of horror unparalleled in the history of conflict'. The Prime Minister stressed, 'We have rejected—and continue to reject—forcible displacement of Palestinians, calling for an immediate halt to the attacks on Gaza, the West Bank, and the occupied territories, and for the unhindered entry of humanitarian aid.' He continued, 'We have all seen the images of children lining up in the hundreds for a piece of bread—perhaps they receive it, or perhaps they return empty-handed. What memories of pain and injustice will this generation carry? Renewing his call for serious and responsible Arab action, Al Sudani urged efforts to save Gaza and reactivate the role of UNRWA in both Gaza and the West Bank. He also affirmed Iraq's support for a ceasefire in southern Lebanon and condemned repeated violations of the sovereignty of that brotherly country. Regarding Syria, he reiterated, "We reaffirm our firm stance in support of Syria's unity and sovereignty, and our rejection of any aggression or domination over its territory,' adding," We will spare no effort in supporting our brothers in Syria to establish a state based on citizenship and a democratic constitutional system, through a transitional process that guarantees the rights of the Syrian people, ensures religious freedom for all components of society, and combats terrorism". Al Sudani welcomed the United States' decision to lift sanctions on Syria, expressing hope that this step would alleviate the suffering of the Syrian people. On Yemen, he affirmed Iraq's stance supporting unity and sovereignty, the end of conflict and division, and meeting the humanitarian needs of the Yemeni people. He stressed the urgent need to preserve the unity of brotherly Sudan and find sustainable solutions amid a severe humanitarian crisis. On Libya, the Prime Minister emphasized the brotherly bond and called for a comprehensive solution based on dialogue to enhance stability and end internal divisions. He expressed support for ongoing US-Iranian negotiations, emphasizing a vision rooted in peace, coexistence, and constructive communication. 'We must act according to plans that support Arab integration and unify efforts to combat terrorism, human trafficking, drug challenges, climate change, and all factors that strengthen Arab societal cohesion and stability,' PM Al-Sudani affirmed. 'We announce 18 ambitious initiatives to revitalize joint Arab action, foremost among them the initiative to establish an Arab Fund to support recovery and post-crisis reconstruction efforts,' he stated. Al-sudani announced that 'Iraq pledges a contribution of $20 million for the reconstruction of Gaza and another $20 million for the reconstruction of brotherly Lebanon'. 'The 34th Arab Summit is not just a meeting; it marks the beginning of a new chapter and a turning point toward a better future for our peoples,' he added. Concluding his speech, he addressed attendees, saying, 'Baghdad takes pride in your presence on its soil. It stands tall and strong—contributing to the creation of solutions and confronting challenges'
