Latest news with #JohnLee
Iraq Business
a day ago
- Health
- Iraq Business
Sanofi Discusses Collaboration on Biotech and Pharma in Iraq
By John Lee. The Iraqi Ministry of Health has held high-level discussions with a delegation from French pharmaceutical company Sanofi, aimed at strengthening collaboration on biopharmaceutical development, healthcare capacity-building, and policy modernisation. The meeting was chaired by Health Minister Dr. Saleh Mahdi Al-Hasnawi, who welcomed Sanofi's delegation led by Dr. Rami Nassar. The minister emphasised the importance of international partnerships in supporting Iraq's health sector, affirming the ministry's commitment to aligning pharmaceutical policy with global standards. As part of the ongoing collaboration, the two sides discussed the enhancement of the "Imkan" programme, a joint initiative to improve Iraq's healthcare delivery and provide advanced training for medical personnel. Separately, the Ministry's Directorate of Specialised Centres held a three-day scientific workshop titled "Biosimilars and Intellectual Property: Shaping Future Policy Based on Regional Experiences," under the "Imkan" programme and in partnership with Sanofi. The workshop explored regulatory frameworks for biosimilars, intellectual property rights, and evidence-based pharmaceutical policies. Speaking on behalf of the minister, Technical Deputy Dr. Hani Al-Aqabi reiterated Iraq's intention to build strategic partnerships with global healthcare leaders. He highlighted the importance of updating Iraq's pharmaceutical regulations while protecting intellectual property and supporting local industry in line with government directives. Dr. Ahmed Abbadi, Director of Specialised Centres, described the workshop as a vital platform for exchanging expertise. Participants included representatives from the Jordanian Food and Drug Administration, the Lebanese Ministry of Health, and various senior Iraqi health officials. The event concluded with a recognition ceremony, awarding the "Imkan Shield" to key contributors from the ministry and Sanofi, reflecting their role in strengthening Iraq's healthcare infrastructure. (Source: Ministry of Health)
Iraq Business
a day ago
- Business
- Iraq Business
Iraqi Planning Ministry Explores "Dollar Journey" in Iraqi Economy
By John Lee. The Ministry of Planning has hosted a consultative session on the "Journey of the Dollar in the Iraqi Economy: Between Monetary Policy and the Market." Organised by the Department of Economic and Financial Policies, the session brought together department heads and staff to analyse the sources, flows, and impact of foreign currency-primarily the US dollar-on Iraq's economy. Fatima Mohsen Mohammed, Head of the Macroeconomics Division in the Economic Policy and Modelling Department, explained that oil exports account for approximately 95% of Iraq's foreign currency inflows and more than 90% of state revenues. Other sources include: Remittances from Iraqis abroad (2-3%) Non-oil exports, such as dates, sulfur, phosphates, and basic agricultural and industrial goods (1%) Foreign investments and international aid, including loans, grants, and support from institutions like the IMF and World Bank (variable) Religious tourism, which contributes 1-2% Airlines, transport, and services sectors, which currently have minimal dollar inflow impact The discussion also examined the stages and mechanisms by which dollars enter Iraq and the interaction between monetary policy and market dynamics in influencing those flows. (Source: Ministry of Planning)
Iraq Business
2 days ago
- Business
- Iraq Business
Iraq Opens Central Gas Processing Facility at Block 9
By John Lee. The Ministry of Oil has inaugurated the Central Gas Processing Facility at the Al-Faihaa [Fayhaa, Block 9] oil field in Basra, with a capacity of 130 million standard cubic feet per day (MMSCFD). The launch was conducted via video link by Prime Minister Mohammed Shia Al-Sudani, in the presence of Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani. The Prime Minister praised the engineers and technical teams who contributed to the successful completion of this and other gas-related projects, which align with the government's strategy to reduce gas flaring, enhance oil sector development, diversify revenues, and protect the environment. Minister Abdul Ghani reiterated the Ministry's commitment to investing in associated gas from oil fields to drive industrial development and boost national economic returns through increased and diversified income streams. He emphasised that gas projects such as this are critical for ensuring a stable fuel supply for electricity generation. The inauguration was also attended by Oil Ministry Undersecretaries Basim Mohammed Khudair (Extraction Affairs) and Izzat Saber Ismail (Gas Affairs), the Director General of South Gas Company, and officials from Basra's local government and the broader oil sector. Al Faihaa field is also known as Block 9. According to Wood Mackenzie , it is an extension of Iran's giant Yadavaran field. In January 2022, Kuwait Energy Basra Limited (KE Basra), an indirect wholly-owned subsidiary of Hong Kong-based United Energy Group (UEG), entered into an EPCC (engineering, procurement, construction and commissioning) contract with a Chinese consortium to provide a central processing facility including oil treatment system and auxiliary systems at the field. The contractor was a consortium consisting of China CAMC Engineering and CNOOC Petrochemical Engineering. (Source: Ministry of Oil)
Iraq Business
2 days ago
- Business
- Iraq Business
Iraq to produce 12GW of Solar Power by 2030
By John Lee. The Iraqi Oil Ministry's Undersecretary for Distribution Affairs, Ali Maarij, has said that Iraq aims to incorporate 12 Gigawatts (GW) of solar power into its energy mix by 2030, alongside intensified efforts to capture natural gas and reduce flaring. He made the comments at a ceremony to launch a major new report from the International Renewable Energy Agency (IRENA) on the status and outlook of Iraq's energy transition. Maarij described the report as the result of close cooperation between the Iraqi government-represented by the Ministries of Oil and Electricity-and IRENA. He noted that it offers a comprehensive assessment of Iraq's current energy landscape, highlighting both the challenges and opportunities along the path to cleaner energy. For more details on the report click here. (Source: Ministry of Oil)
Iraq Business
2 days ago
- Politics
- Iraq Business
Update on Internal Displacement in Iraq
By John Lee. The International Organization for Migration (IOM) and the UN High Commissioner for Refugees (UNHCR) have published an update on internal displacement in Iraq. Overview 1,031,475 IDPs remain displaced in Iraq. This includes 104,617 people living in the 20 IDP camps, located in the Kurdistan Region of Iraq (KRI). Of this population, 19,432 IDP families - comprising more than 94,000 individuals - reside in 15 camps across Dohuk Governorate and Zakho Administration, 6,537 individuals remain in two camps in Erbil Governorate, and 4,083 people remain in the three East Mosul Camps. Click here to download the full report. To browse our comprehensive library of reports on Iraq, click here. (Source: ReliefWeb)
