Latest news with #Iraqi-made
Iraqi News
01-06-2025
- 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.
Shafaq News
15-04-2025
- Business
- Shafaq News
Gold prices hold ground in Baghdad, decline in Erbil
Shafaq News/ On Tuesday, gold prices remained stable in Baghdad, while they dropped in Erbil. According to a Shafaq News survey, Baghdad's al-Nahr Street wholesale markets recorded a price per mithqal (4.25 grams) for 21-carat Gulf, Turkish, or European gold stood of 666,000 IQD for selling and 662,000 IQD for purchasing. Iraqi-made 21-carat gold was sold for 636,000 IQD and purchased at 632,000 IQD. In jewelry shops, 21-carat Gulf gold selling prices ranged between 665,000 and 675,000 IQD per mithqal, while Iraqi gold ranged between 635,000 to 645,000 IQD. In Erbil, 24-carat gold was sold at 765,000 IQD, 22-carat at 700,000 IQD, 21-carat at 670,000 IQD, and 18-carat at 575,000 IQD.
