Latest news with #EconomyandInvestmentCommittee
Iraqi News
12 hours ago
- Business
- Iraqi News
Iraq awards 1.5M housing units in push for 5M by 2030, says parliamentary committee
Baghdad ( – Iraq has awarded projects for 1.5 million new housing units and expects that number to reach 5 million by 2030, the head of the Iraqi Parliament's Economy and Investment Committee, Hassan Al-Khafaji, announced on Monday (June 16, 2025). Al-Khafaji highlighted significant interest from reputable foreign companies to enter Iraq's housing market, attributing the progress to cooperation between parliament and the government in amending investment laws to support the private sector. Alongside the housing push, Al-Khafaji confirmed that practical steps have been taken to boost local industry through the awarding of new industrial cities in Anbar, Karbala, Babil, Basra, and Nineveh. This is part of a strategy to localize manufacturing and regulate imports. He affirmed that Iraq is currently an attractive and secure environment for investment, and expects larger and more established international companies to enter the market in the coming period. The committee is awaiting further amendments to the investment law from the Prime Minister's office for a parliamentary vote.
Shafaq News
10-03-2025
- Business
- Shafaq News
Al-Anbar reopens glass factory for investment
Shafaq News/ The Al-Anbar Provincial Council is preparing to reintroduce its glass and ceramics factory as an investment opportunity following the termination of its contract with a Russian company, an official confirmed Sunday. The announcement follows a Shafaq News report last Thursday, detailing the factory's years-long shutdown due to legal and financial hurdles that stalled rehabilitation efforts, significantly affecting local employment and industrial output. Once a pillar of Iraq's industrial sector, the glass and ceramics factory used to play a major role in meeting domestic demand and providing thousands of jobs. Hamid Daham Al-Alwani, head of the council's Economy and Investment Committee, told Shafaq News that a recent court ruling in favor of the Iraqi Ministry of Industry has paved the way for new investors. "Plans are in place to introduce modern production lines to enhance quality and stimulate the local economy," he stated. Al-Alwani highlighted that the factory's multiple production lines offer flexibility for independent investment, allowing different sectors to develop specialized product lines. "This strategy increases project viability and attracts high-caliber investors," he explained. The council is committed to structuring the upcoming investment bid efficiently to ensure maximum resource utilization and long-term sustainability. "The next phase will bring positive economic transformations in Al-Anbar," Al-Alwani emphasized, stressing that authorities are focused on attracting serious investors capable of meeting modern industry standards.
