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Iraq Business
11-03-2025
- Business
- Iraq Business
5G: Iraq to establish National Mobile Telecommunications Company
By John Lee. Iraq's Council of Ministers has approved the establishment of the National Mobile Telecommunications Company (NMTC), which will operate Iraq's 5G national license in cooperation with UK's Vodafone Group. The initiative aims to develop the telecommunications sector, maximize revenues, and implement the government program. The new company will be a private limited entity under the Companies Law No. 21 of 1997 (as amended), with equal ownership by: Al-Salam General Company (Ministry of Communications) (Ministry of Communications) National Board of Pension / State Pension Fund / State Pension Fund Trade Bank of Iraq (TBI) Each entity will contribute one-third of the capital as a long-term investment. The Council of Ministers will oversee key corporate decisions, including shareholding amendments, public offerings, and strategic planning. The Minister of Communications has been assigned to supervise implementation and provide regular progress reports. (Source: PMO)
Shafaq News
11-03-2025
- Business
- Shafaq News
5G and Global Ties: Iraq's Cabinet approves major telecom and diplomatic deals
Shafaq News/ The Iraqi Council of Ministers, chaired by Prime Minister Mohammed Shia Al-Sudani, held its 10th regular session on Tuesday, addressing key national developments and advancing major policy initiatives. According to an official statement, the Council of Ministers approved the establishment of the National Mobile Telecommunications Company, which will operate the 5G national license in cooperation with Vodafone Group. 'This step aligns with our commitment to modernizing Iraq's telecommunications infrastructure and maximizing national revenues,' the government said in a statement. The new company will be established as a private limited entity under the Companies Law No. 21 of 1997 (as amended), with equal participation from three government bodies: the Ministry of Communications' Al-Salam General Company, the State Pension Fund, and the Trade Bank of Iraq (TBI). Each entity will hold an equal one-third share as a long-term investment. The government emphasized that 'all major strategic decisions affecting the success of the national mobile license project will require prior approval from the Council of Ministers.' Additionally, the Minister of Communications has been tasked with overseeing the implementation of the project and providing periodic progress reports to the Council of Ministers. Foreign Affairs and Diplomatic Agreements The Council of Ministers also approved several key agreements aimed at strengthening Iraq's international relations. It ratified the enforcement of a Memorandum of Understanding with Morocco for mutual visa exemption for diplomatic passport holders. The Council also approved the Foreign Ministry's proposal to establish an Indian Consulate General in Najaf Province. Furthermore, the government endorsed an Air Services Agreement between Iraq and Jordan, which has been submitted to the Council of Representatives for approval and ratification. 'These diplomatic agreements reflect Iraq's commitment to facilitating international cooperation and fostering stronger economic and political ties with key global partners,' the statement added. The Council of Ministers reaffirmed its dedication to implementing policies that support economic growth, enhance public services, and strengthen Iraq's regional and international standing.
Iraqi News
11-03-2025
- Business
- Iraqi News
The Cabinet holds the 10th regular session, desicions included
The Cabinet held the 10th regular session chaired by PM Muhammed S. Al-Sudani on Tuesday as it included discussions on the latest developments in the country, the progress of the government program, and the review of agenda items, leading to key decisions. As part of efforts to develop the telecommunications sector, maximize revenues, and implement the government program, the Cabinet approved the establishment of the National Mobile Telecommunications Company, which will operate the 5G national license in cooperation with Vodafone Group, according to a statement by the PM's Media Office - received by the Iraqi News Agency - INA. In this regard, the Cabinet approved the following: 1. The participation of the following entities in establishing the National Mobile Telecommunications Company as a private limited company, following the Companies Law No. 21 of 1997 (as amended): • Ministry of Communications / Al-Salam General Company. • National Board of Pension / State Pension Fund. • Trade Bank of Iraq (TBI). 2. Each entity will contribute an equal one-third share of the company's capital as a long-term investment. 3. The participating government entities must obtain the Cabinet's approval for their nominated representatives to the General Assembly of the National Mobile Telecommunications Company. 4. The nominated representatives of these entities must seek Cabinet approval before making decisions on the following matters once appointed to the General Assembly: • Amending shareholders' equity in the company. • Determining future share allocations for public offering. • Major strategic decisions impacting the success of the national mobile license project. 5. The Minister of Communications will oversee the implementation of the national mobile license project and submit periodic progress reports to the Cabinet. Decisions on Infrastructure and Delayed Projects The Cabinet also reviewed the progress of infrastructure projects and the completion of stalled projects, issuing the following decisions: 1. Increasing the total cost and contingency amount for the rehabilitation of the road linking Imam Ali (AS) Bridge to the Shalamcheh Border Crossing in Basra Province. 2. Adding an electricity supply component to Al-Rifai Sewage Project in Dhi Qar Province, while also increasing the total cost and contingency amount for the main project. 3. Adding a new component to complete the Balad Water Project in Salah al-Din Province, increasing the total project cost and contingency. 4. Increasing the contingency allocation for the contract related to the construction of the Chaldean Patriarchate headquarters and its necessary provisions (First Contract Annex), as part of the Patriarchate headquarters construction project, and introducing a new component for furnishing the headquarters. 5. Adjusting the cost components for completing the Salah al-Din Thermal Power Plant (1260 MW) and reallocating the remaining funds from the rehabilitation and reconditioning component to support the management, training, operation, and development of the power plant. This adjustment will be implemented without additional charges to the Iraqi-Chinese framework agreement. 6. Increasing the total costs and contingency amounts for sanitation, sewage, and transmission line projects in the districts of Al-Salahiyya, Al-Shafi'iya, and Nafar in Al-Diwaniyah Province. The Cabinet approved procurement procedures in Salah al-Din Province following the budget law provisions, implementing projects through direct execution and the trust-based execution method. The session included amending the Cabinet's Decision No. 300 (2022) to include the following provision: • The Ministry of Finance will cover the interest costs on a loan granted by the Trade Bank of Iraq (TBI) to the Iraqi Football Association, additionally, all accrued interest owed by the association will be waived Foreign Affairs and Diplomatic Agreement. The Cabinet approved the Enforcement of the Memorandum of Understanding on mutual visa exemption for diplomatic passport holders between Iraq and Morocco. In addition to that, the Cabinet approved the Foreign Ministry's proposal to establish an Indian Consulate General in Najaf Province. The Cabinet approved the Air Services Agreement between Iraq and Jordan and Submitted it to the Council of Representatives for approval and ratification.
