Latest news with #IraqiBusinessCouncil
Zawya
17-02-2025
- Business
- Zawya
Jordan, Iraq explore partnerships at investment, renewable energy, finance conference
AMMAN: The Investment, Renewable Energy and Finance Towards a Sustainable Digital Future conference kicked off in Amman on Sunday. Organised by the Iraqi Business Council in partnership with the Jordan Chamber of Industry, the Amman Chamber of Industry, the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), the event brought together key stakeholders from the region and beyond, the Jordan News Agency, Petra, reported. Participants included the European Bank for Reconstruction and Development, the Association of Iraqi Private Banks, the Arab Businessmen Association, as well as Iraqi business councils, local and international economic institutions, and a delegation of Libyan business leaders. The one-day conference focused on investment opportunities, financing and digital transformation, with a special emphasis on promising sectors such as banking and finance, industry and mining, renewable energy and ICT. Minister of State for Economic Affairs Muhannad Shehadeh, who opened the conference on behalf of the prime minister, stressed that the event is in line with His Majesty King Abdullah's vision to promote economic integration and boost Jordan-Iraq cooperation, especially in the fields of investment, trade and industry. He stressed the importance of strategic investments and partnerships in promoting sustainable economic development, noting that Jordan remains committed to creating a secure and conducive business environment. He said that the conference serves as a platform for dialogue between governments, private sector leaders and international institutions, helping to improve the investment climate and drive long-term economic growth. Shehadeh also highlighted Jordan's key role in regional economic cooperation, pointing to critical sectors such as infrastructure, renewable energy, industry, mining, financial services, telecommunications and transport. He also stressed that Jordanian-Iraqi economic integration is not just an option, but a strategic necessity that offers both nations new avenues for prosperity. The Minister highlighted important joint initiatives, including the Jordan-Iraq electricity interconnection project, which is expected to be launched in the second quarter of this year. He also reiterated Jordan's commitment to supporting Iraq with all available resources to ensure a robust partnership that benefits both countries. Shehadeh also highlighted the potential of large-scale infrastructure projects such as the Special Economic Zone and the Joint Industrial City, stressing the need to move these initiatives from planning to implementation. He also recognised Iraq as one of Jordan's most important trading partners, with bilateral trade having grown significantly in recent years. Chairman of the Iraqi Business Council in Jordan Majid Saadi reiterated the conference's goal of diversifying investment and promoting economic integration between the two countries in the face of regional challenges. Saadi noted that Iraqi investors have established successful companies in Jordan to serve local and Iraqi markets. He called for more joint investment projects and stronger economic partnerships, noting that Jordanian investments in Iraq include the banking, IT and education sectors. He also commended the support of King Abdullah and Iraqi Prime Minister Mohammed Al Sudani in facilitating private-sector engagement. President of the Jordan Chamber of Industry Fathi Jaghbir stressed the need to capitalise on untapped investment opportunities through innovative strategies in line with global economic shifts. He called for reforming investment mechanisms and leveraging digital transformation to increase business efficiency and enhance production capabilities. Iraqi Ambassador to Jordan Omar Barzanji reaffirmed Iraq's commitment to facilitating investment and economic reform, noting that streamlining business regulations is key to driving economic progress in both countries. He highlighted Iraq's 2024-2028 Development Plan, which aims to achieve economic growth of over 4 per cent, increase GDP per capita, diversify revenue streams and attract both domestic and foreign investment. The plan also aims to reduce poverty to 5 per cent, promote local development, develop the transport sector, improve food security and strengthen environmental protection and international partnerships.
Jordan Times
16-02-2025
- Business
- Jordan Times
Jordan, Iraq explore partnerships at investment, renewable energy, finance conference
Minister of State for Economic Affairs Muhannad Shehadeh stresses that Jordanian-Iraqi economic integration is not just an option, but a strategic necessity that offers new avenues for prosperity (Petra photo) AMMAN — The Investment, Renewable Energy and Finance Towards a Sustainable Digital Future conference kicked off in Amman on Sunday. Organised by the Iraqi Business Council in partnership with the Jordan Chamber of Industry, the Amman Chamber of Industry, the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), the event brought together key stakeholders from the region and beyond, the Jordan News Agency, Petra, reported. Participants included the European Bank for Reconstruction and Development, the Association of Iraqi Private Banks, the Arab Businessmen Association, as well as Iraqi business councils, local and international economic institutions, and a delegation of Libyan business leaders. The one-day conference focused on investment opportunities, financing and digital transformation, with a special emphasis on promising sectors such as banking and finance, industry and mining, renewable energy and ICT. Minister of State for Economic Affairs Muhannad Shehadeh, who opened the conference on behalf of the prime minister, stressed that the event is in line with His Majesty King Abdullah's vision to promote economic integration and boost Jordan-Iraq cooperation, especially in the fields of investment, trade and industry. He stressed the importance of strategic investments and partnerships in promoting sustainable economic development, noting that Jordan remains committed to creating a secure and conducive business environment. He said that the conference serves as a platform for dialogue between governments, private sector leaders and international institutions, helping to improve the investment climate and drive long-term economic growth. Shehadeh also highlighted Jordan's key role in regional economic cooperation, pointing to critical sectors such as infrastructure, renewable energy, industry, mining, financial services, telecommunications and transport. He also stressed that Jordanian-Iraqi economic integration is not just an option, but a strategic necessity that offers both nations new avenues for prosperity. The Minister highlighted important joint initiatives, including the Jordan-Iraq electricity interconnection project, which is expected to be launched in the second quarter of this year. He also reiterated Jordan's commitment to supporting Iraq with all available resources to ensure a robust partnership that benefits both countries. Shehadeh also highlighted the potential of large-scale infrastructure projects such as the Special Economic Zone and the Joint Industrial City, stressing the need to move these initiatives from planning to implementation. He also recognised Iraq as one of Jordan's most important trading partners, with bilateral trade having grown significantly in recent years. Chairman of the Iraqi Business Council in Jordan Majid Saadi reiterated the conference's goal of diversifying investment and promoting economic integration between the two countries in the face of regional challenges. Saadi noted that Iraqi investors have established successful companies in Jordan to serve local and Iraqi markets. He called for more joint investment projects and stronger economic partnerships, noting that Jordanian investments in Iraq include the banking, IT and education sectors. He also commended the support of King Abdullah and Iraqi Prime Minister Mohammed Al Sudani in facilitating private-sector engagement. President of the Jordan Chamber of Industry Fathi Jaghbir stressed the need to capitalise on untapped investment opportunities through innovative strategies in line with global economic shifts. He called for reforming investment mechanisms and leveraging digital transformation to increase business efficiency and enhance production capabilities. Iraqi Ambassador to Jordan Omar Barzanji reaffirmed Iraq's commitment to facilitating investment and economic reform, noting that streamlining business regulations is key to driving economic progress in both countries. He highlighted Iraq's 2024-2028 Development Plan, which aims to achieve economic growth of over 4 per cent, increase GDP per capita, diversify revenue streams and attract both domestic and foreign investment. The plan also aims to reduce poverty to 5 per cent, promote local development, develop the transport sector, improve food security and strengthen environmental protection and international partnerships.
Jordan Times
08-02-2025
- Business
- Jordan Times
Iraqi Business Council to hold conference in Amman to enhance partnerships
Iraqi Business Council in Amman on February 16 is scheduled to organise a conference under the theme: 'Investment, Renewable Energy and Financing... Towards a Sustainable Digital Future.' (Petra photo) AMMAN — Iraqi Business Council (IBC) in Amman on February 16 is scheduled to organise a conference under the theme: "Investment, Renewable Energy and Financing... Towards a Sustainable Digital Future." The event will be held in partnership with the Jordan and Amman chambers of industry, International Finance Corporation and Multilateral Investment Guarantee Agency (MIGA), the Jordan News Agency, Petra, reported. According to the IBC statement on Saturday, the European Bank for Reconstruction and Development (EBRD), Iraqi Banks Association, Federation of Arab Businessmen, Iraqi business councils and local and international economic institutions will attend discussions. The one-day event focuses on investment, financing and digital transformation opportunities, highlighting "promising" sectors including the financial and banking sector, industry, mining, renewable energy, communications and information technology. The statement added that the conference constitutes a platform for direct contact among companies, representatives of strategic projects and financial institutions, providing "valuable" opportunities for expanding business and expanding into regional markets. Naji noted that the conference agenda represents an "exceptional" opportunity to enhance "strategic" Jordanian-Iraqi partnerships, as the two countries' investors and business owners will explore cooperation prospects and investment. He also pointed out that participation of "leading" international financial institutions would contribute to providing support for major projects and stimulating investment. Page 2
Jordan News
08-02-2025
- Business
- Jordan News
Enhancing the Jordanian-Iraqi Economic Partnership - Jordan News
Amman,Iraqi Business Council (IBC) in Amman is organizing on February 16, a conference, themed: "Investment, Renewable Energy and Financing... Towards a Sustainable Digital Future." اضافة اعلان The event comes in partnership with Jordan and Amman Chambers of Industry, International Finance Corporation and Multilateral Investment Guarantee Agency (MIGA). According to an IBC statement Saturday, the European Bank for Reconstruction and Development, Iraqi Banks Association, Federation of Arab Businessmen, Iraqi business councils and local and international economic institutions will attend discussions. The one-day event focuses on investment, financing and digital transformation opportunities, highlighting "promising" sectors including the financial and banking sector, industry, mining, renewable energy, communications and information technology. The statement added that the conference constitutes a platform for direct contact among companies, representatives of strategic projects and financial institutions, providing "valuable" opportunities for expanding business and expanding into regional markets. IBC Vice President and Head of the Preparatory Committee, Dr. Saad Naji, said Iraqi Minister of Industry and Minerals, Dr. Khaled Battal, Governor of Central Bank of Iraq, Dr. Ali Al-Alaq, other officials and representatives of Jordanian and Iraqi financial and banking sectors will participate. On its agenda, Dr. Naji noted the conference represents an "exceptional" opportunity to enhance "strategic" Jordanian-Iraqi partnerships, as the two countries' investors and business owners will explore joint cooperation prospects and investment. Participation of "leading" international financial institutions adds an "exceptional" character, which would contribute to providing support for major projects and stimulating investment, he pointed out.
Jordan Times
28-01-2025
- Business
- Jordan Times
Kingdom's exports to Iraq grow significantly by 45.6% untill November in 2024
Jordan's exports to Iraq saw a remarkable 45.6 per cent increase in the first 11 months of 2024, reaching JD 830 million (Petra photo) AMMAN — Jordan's exports to Iraq saw a remarkable 45.6 per cent increase in the first 11 months of 2024, reaching JD 830 million. This represents a growth of over JD 260 million compared to JD 570 million during the same period in 2023, according to official statistics reviewed on Tuesday by the Jordan News Agency (Petra).The trade balance between the two countries recorded a surplus of JD 658 million, with the total trade volume rising to JD1 billion, up from JD745 million in 2023. In contrast, Jordan's imports from Iraq slightly declined to JD172 million by November 2024, compared to JD174 million in ranked as the second-largest destination for Jordanian exports within the Arab Free Trade Zone, accounting for 25.4 per cent of total exports to the region, which amounted to JD3.257 billion by November 2024. A representative from the Iraqi Business Council in Amman highlighted that, despite the significant growth, Jordan's exports still fall short of the industries' full potential. He emphasised the importance of fostering deeper ties with Iraqi companies and government bodies to expand Jordan's role in Iraq's reconstruction representative also pointed to the substantial presence of Jordanian companies in Baghdad in varieties of sectors such as hospitality, banking, oil, technology, and construction, which underscores the strong economic relationship between the two Officer of Jordan Chamber of Industry's Export to Iraq attributed the rise in exports to the strengthened economic relations and private-sector efforts. Fertilisers and pharmaceuticals were among the leading export products, followed by detergents, electrical wires, plastics, and food items. Over the past two years, the private sector, in collaboration with the government, has worked to deepen trade ties and foster business partnerships. Initiatives included the organisation of major delegations to trade events such as the Baghdad International Fair. The upcoming Jordan-Iraq Business Forum is expected to further bolster these exports to Iraq include fertilisers, electrical equipment, detergents, paints, fresh produce, mineral water, juices, pharmaceuticals, clothing, and skincare products. Imports from Iraq primarily consist of crude oil, grains, dates, nuts, organic chemicals, and aluminum trilateral partnership agreement between Jordan, Iraq, and Egypt, established during the 2019 Cairo summit, continues to serve as a platform for enhancing regional cooperation. Key initiatives include the Basra-Aqaba oil pipeline and collaborative projects in trade, energy, and infrastructure. This partnership aims to achieve sustainable development, focusing on food and energy security while strengthening long-term regional stability and economic integration.
