The State Company for Military Industries (SCMI), under the authority of Ministry of Industry and Minerals, has invited investors to participate in the following investment opportunity: Transfer of Technology (TOT) and lndustry for hunting-rifle cartridges (Ga 12,16,20).

Interested companies can obtain all the documents and tender conditions from the commercial department in the head office of SCMI located in Baghdad, Al-Waziraya (beside oil institute) against 250000 IQD (not refundable).

The date of tender announcement is valid for the period of 30 days from the announcement date, in case of not submitting any offer through above period , the announcement is considered to be valid another 30 days until we received acceptable offer within one calendar year.

(Source: NIC)

By John Lee.

The CEO of Germany’s Siemens has said that US President Donald Trump would support his company’s role in reconstruction projects in countries like Iraq.

Joe Kaeser (pictured) made the comment to CNBC at the World Economic Forum (WEF) in Davos, Switzerland.

Following a hotly-contested competition in 2018, it was agreed that Siemens and rival GE would share the work to upgrade Iraq’s electricity system, with GE supplying 14 gigawatts (GW), and Siemens 11 GW.

Siemens employs around 60,000 workers in the US.

(Source: CNBC)

Iraqi government’s finance schemes to support SMEs and business innovation

To support small and medium private-sector projects, the Iraqi government, through the Central Bank of Iraq (CBI) and with the participation of a number of private and state-owned banks, has made available several types of loans.

The loans are available to all Iraqis.

According to a statement from the Iraqi Government, one of the more innovative finance schemes is the Central Bank’s “1 Trillion Dinars Initiative” which is dedicated to supporting small and medium enterprises, as part of the wider Iraqi government strategy to boost economic growth, create new job opportunities, and the production of local goods and services.

(Source: Iraqi Government)

By John Lee.

Transparency International has said that Iraq’s ranking has risen slightly in its global Corruption Perceptions Index (CPI).

From a total of 180 countries, Iraq came in at number 162; last year’s position was 168 out of 180 countries.

This result puts it on equal ranking with Chad and Cambodia.

Libya was ranked in 168th place, with Iran in 146th.

New Zealand beat Denmark to first place, with Somalia in last place.

The Corruption Perceptions Index ranks countries and territories by their perceived levels of public sector corruption according to experts and businesspeople.

More here.

KRG Prime Minister Masrour Barzani and Deputy Prime Minister Qubad Talabani chaired a meeting of the cabinet on Wednesday to discuss implementing best practice for the taxation system of the Kurdistan Region.

The ministers reviewed an internal pilot project tasked with developing a new legal and auditing framework. The framework updates current auditing practices and increases the transparency of the taxation system.

Prime Minister Barzani emphasised his cabinet’s commitment to an ambitious reform agenda, notably tax revenue reform in the Kurdistan Region, which will ensure fair implementation of the system and provide the government with the enhanced enforcement tools.

The cabinet also approved a project designed to improve monitoring and auditing of government and private sector budgets, the facilitation of which will be supported by the Ministry of Finance and Economy.

During the cabinet meeting, the KRG also approved the merging of the High Institute for Audits and Accounting with the Ministry of Higher Education and Scientific Research, bolstering their research capabilities and raising scientific standards.

Prime Minister Barzani called for everyone to work together to ensure that public property and government vehicles are used in the best interest of the public and in accordance with government rules and regulations.

(Source: KRG)

By John Lee.

A recently established tote bag factory has reportedly created jobs for 25 women in the Kurdistan Region’s Halabja.

According to Rudaw, the initiative aims to promote alternatives to plastic, and is part of the “Green City Halabja” campaign, run by the NWE NGO and partially funded by the German Consulate and WADI organization.

Click here to read the full story.

(Source: Rudaw)

KRG cabinet discusses reform agenda and public-private partnerships

KRG Prime Minister Masrour Barzani and Deputy Prime Minister Qubad Talabani on Wednesday chaired a meeting of the cabinet to discuss the Kurdistan Regional Government’s ambitious reform agenda and the implementation of public-private partnerships.

Prime Minister Barzani welcomed the cabinet’s support for the government’s reforms, which will provide more fairness and transparency concerning the reorganisation of public sector salaries and pensions.

The cabinet prepared clarifications that will be sent to the Kurdistan Parliament, as its members review reforms of entitlements relating to the families of martyrs and political prisoners.

The cabinet also discussed how public-private partnerships might be utilised in modernisation projects. Prime Minister Barzani expressed his support for a pilot project, and requested that the Ministry of Planning examines it in more detail, to assess whether this project is in the best interests of the Kurdistani peoples.

(Source: KRG)

By Bryant Harris for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

Senate Armed Services Chairman Inhofe endorses Iraq sanctions

The Donald Trump administration is doubling down on its Iraq pressure campaign, threatening to impose devastating sanctions on the fragile country should Baghdad move forward with its threats to expel US forces.

And the policy has buy-in from key Republican lawmakers, who are in no hurry to push back against the president’s sanctions threats.

Click here to read the full article.

By Bryant Harris for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

Senate Armed Services Chairman Inhofe endorses Iraq sanctions

The Donald Trump administration is doubling down on its Iraq pressure campaign, threatening to impose devastating sanctions on the fragile country should Baghdad move forward with its threats to expel US forces.

And the policy has buy-in from key Republican lawmakers, who are in no hurry to push back against the president’s sanctions threats.

Click here to read the full article.

By John Lee.

Forty-five start-ups have presented their projects to a jury at a competition in Baghdad.

They were selected from an initial list of 250 applicants, with a final 20 being chosen to participate in the Orange Corners incubation programme.

Orange Corners Baghdad is an initiative of the Dutch Embassy in Baghdad, and is implemented by the business company KAPITA.

(Source: Orange Corners)