Tishwash: Tomorrow… Iraqi and American Chambers of Commerce Sign Contract to Regulate Private Sector Operations
The head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq al-Zuhairi, announced today, Tuesday, the signing of an agreement with the American Chambers of Commerce to regulate the private sector tomorrow, Wednesday. He explained that the government has included regulating the private sector in its program.
In a statement to Al-Iraqiya News Agency, followed by the Iraqi News Agency (INA), al-Zuhairi said, “Tomorrow will witness the signing of an agreement with the American Chambers of Commerce to regulate the private sector.”
He explained that “American companies are distinguished by greater flexibility and capabilities, and they have extensive experience working with countries around the world. In addition, Americans have everything they need to work in Iraq, especially in the field of industry.”
He pointed out that “the banking base in Iraq has become large and global, and it is possible for us to work within it.” He explained that “the agreement signed yesterday, in addition to the agreement to be signed tomorrow, includes regulating work in the Iraqi and American private sectors.” He emphasized that “the government has included in its program the regulation of the private sector and supports many areas, especially loans and the purchase of machinery and equipment,” noting that “despite the difficult circumstances we faced, the results were positive on the ground.”
Al-Zuhairi also referred to “addressing taxes, customs, the companies law, and the agency law,” indicating that “there is a package that the government sent to Parliament for a vote, which is the most important package.”
He explained that “the work of the private sector requires continuous updating, as there are new systems, laws, and new programs that change from time to time. Land acquisition was previously under the agrarian reform law, as was the energy issue, and many other issues have been finalized.”
He explained that “what the government has done over the past period has been exceptional,” expressing his hope that “support for the private sector will continue in order to attract the largest number of international companies and employ the workforce.” link
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Tishwash: US Energy Secretary: I will visit the Middle East this week to promote investment in the United States.
US Energy Secretary Chris Wright will begin a two-week tour of three Middle Eastern countries, including Saudi Arabia, on Wednesday, a source familiar with the matter told Reuters.
This trip, which will also include Qatar and the United Arab Emirates, is expected to pave the way for President Donald Trump’s visit to those countries, likely in mid-May.
“I will be visiting the Middle East this week to promote investment in America,” Wright wrote on his personal X account on Tuesday.
Looking forward to visiting the Middle East this week and promoting investment in America! https://t.co/qbj0ghIeoj
— Secretary Chris Wright (@SecretaryWright) April 8, 2025
A source at the Ministry of Energy said that Wright will begin his trip in the United Arab Emirates, followed by Saudi Arabia over the weekend, and then Qatar, and will also meet with leaders of several countries. The source added that Wright will likely hold talks on ensuring abundant global oil supplies outside of countries whose oil exports are subject to US sanctions, including Iran, Venezuela, and Russia.
Discussions will also focus on the three countries’ investments in the United States, after the UAE last month committed to a $1.4 trillion, 10-year investment framework in artificial intelligence, semiconductor, energy, and manufacturing infrastructure.
The source said that Wright will visit oil and gas production sites in the Middle East, looking for ways to reduce costs. He added that he will also visit a nuclear power plant in the UAE. link
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Tishwash: How Iraq is Modernising and Diversifying its Growing Economy
How Iraq is Modernising and Diversifying its Growing Economy
For the last three years Iraq has enjoyed relative stability, good oil prices and a growing economy. For those who invested in the Iraqi stock market, returns of over 100% are common and GDP in 2025 is estimated to be up to 5%.
Oil and Gas sales has driven this expansion, but other factors such as sovereign wealth funds are now encouraged by the GOI’s stability to invest, such as the Saudis with their Public investment fund, the Qataris ( both government and private sector, and the Gulf states, have driven around $3.5bn investment into infrastructure, housing and the development road initiative, in addition to Iraqis investing in consumer real estate such as cafes and housing all feeding off economic and political confidence. The government has also pledged up to $400bn of investment into development, infrastructure and the Al Fawr port complex and the new $15bn trade deal with UK for cyber, telco and defence support.
At IBBCs Baghdad conference in February, over 350 business delegates flocked to hear the leading minsters or oil, communications, foreign affairs and key advisors to the Prime Minister, expand on opportunities in Iraq, where the atmosphere was palpably enthusiastic to participate in the new Iraq economy.
Beyond Infrastructure we also see expansion in Schooling and Universities, in more diverse services such as travel, tech and professional services like law and banking. Collaboration with international companies and countries is key to Iraq’s evolution, as new skills and technologies are coming into the country, driven by international confidence in Iraq. Iraq needs a more skilled workforce to enable engineering and business expansion, and companies like Unihouse and Mselect are supporting these skills.
Indeed, IBBCs membership mix reflects this diversification, modernisation and internationalisation of the economy: private schools, training and skills companies, tech and media companies, high end added value design, and the establishment of Agritech and marine sector companies bringing expertise into the country like DPD, AL Zaman Group(Marine Shipbuilding company Uk Ltd ) Gold Sponsors, and CJ-ICM.
At our Spring Conference at the Mansion House on June 3rd we will showcase the leaders in these new sectors and explain why they are now investing and establishing in Iraq.
You will also meet the best of British expertise, through the sagacity of Lord Howell on energy, Lord Green on banking, Professor Frank Gunter with his report on Iraq Entrepreneurs, and from Iraq the minister of Transport, who will outline the significant infrastructure opportunities, as well as other Iraqi officials soon to be confirmed. Underpinning UK investment the UKEF CEO, Tim Reid, will present how companies can access the £billions in UK trade guarantees, Jon Wilks CMG ( former Ambassador) will articulate his much anticipated geo political insights and dynamics especially with an election looming and developments in Syria, Iran and the Middle East
The IFC on investment initiatives led by Hogan Lovells (Gold sponsor) and with TBI (Gold Sponsor), and key IBBC companies in energy, finance , maritime, agritech, tech and education will be evident on stage.
For those wanting more interactive discussion there are roundtables on Entrepreneurship, Growth, Transport (with Sardar, Gold Sponsors), Education and a special Tourism and heritage panel and exhibition. On 2nd June will be a special networking reception at the Mansion house for delegates, and the Tech forum online – covering how AI and Tech support the services sector- including its use in education, investment and Pharma.
To view the latest speaker, line up and to register, please go to this link on IBBCs website.
While the worlds stock markets are in turmoil, for once, Iraq presents a beacon of economic and social stability as it takes the long march towards modernity and diversification of its economy. Come and hear how this is happening and meet the people who are making it happen. Register here for the IBBC Mansion House conference.
Gold sponsors include: Trade bank of Iraq, Sardar Group and Al Zaman Group (Marine Shipbuilding company Uk Ltd), Hogan Lovells International LLP link
