By John Lee.

IFC, a member of the World Bank Group, is investing over $26 million in a new 161-bed hospital in Erbil in the Kurdistan Region of Iraq.

The facility will increase the availability of quality healthcare services and help address gaps in the country’s healthcare infrastructure. The $92 million Seema Hospital project is expected to open its doors in 2021. In addition to providing core health services, it will be one of the city’s first private hospitals with oncology, radiotherapy, and burn units.

Treatment capacity in existing public and private healthcare facilities in Iraq is limited, with damages to the system estimated at $2.3 billion because of the conflict, according to a World Bank report. The hospital is owned by the Macrom Company for General Trading.

Yaseen Al Bazzaz, Chairman and Chief Executive Officer of Macrom Company for General Trading, said

“Since opening our first hospital in 2006, we have grown into a leading provider of specialized health care services … Hundreds of patients are traveling desperately to neighboring countries for their medical needs. This will change once Seema Hospital opens and provides top-notch healthcare solutions.”

IFC is also contributing technical expertise, advising on environmental and social best practices, and providing guidance on corporate governance. The project is part of the World Bank Group’s strategy in Iraq to develop social infrastructure. Seema Hospital also will be one of the first buildings in Iraq to be certified by IFC EDGE, a platform that helps to determine the most cost-effective options for designing green buildings.

Tomasz Telma, IFC’s Senior Director for Manufacturing, Agribusiness, and Services, said:

“Iraq is a priority country for IFC, and we are committed to supporting its economic growth and health infrastructure … Investing in quality hospitals helps improve care, especially where there is often limited access to effective secondary and tertiary facilities, and introduce expertise, technology, and best practices to these markets.”  

IFC has increased its investments in Iraq during the last decade. Its committed portfolio stands at about $254 million, up from $20 million in 2010.

As Iraq and other countries battle COVID-19, the World Bank Group, in response to the crisis, has announced $14 billion package of financing to help support  countries to strengthen health systems and improve disease surveillance worldwide.

(Source: IFC)

The Iraq Britain Business Council (IBBC) is delighted to be holding a Tech forum within the main Conference at Address Hotel in Dubai on December 8th.

Principal among the speakers are Mr Yassin Bhija of GE Healthcare and Mr Uwe Bork of Siemens Healthcare who are driving the healthtech panel – exploring the hot topic of ‘How best to Develop primary and general healthcare in Iraq.’

Iraq has structural and tactical issues in providing universal healthcare at all levels of delivery and in all locations and classes. The two leading healthcare companies will discuss how tech solutions in general can address the issue and how their particular capabilities contribute to the general provision of healthcare.

Following on the Education Tech panel, will be discussing ‘The importance of Digital literacy in Iraq’, led by Google’s Mr Martin Roeke, Dr Victoria Lindsay of the British Council and Mr Timothy Fisher CEO of Stirling Education.

The Forum is sponsored by Innovest Middle East, an investment company that invests in startups during their scaling up stage in key markets in the Middle East region. With representations in Lebanon, Dubai, KSA, and Iraq, Innovest Middle East has played a key role in driving the startup ecosystem through direct investments as well as through supporting incubation and acceleration platforms collaboration with governmental and international bodies. In Iraq, Innovest Middle East launched IRAQPRENEURS in 2018, in collaboration with the World Bank, Central Bank of Iraq and leading private organizations, which grew to become one of the leading nationwide entrepreneurship empowerment platform in Iraq.

Mr Bassam Falah, CEO of Innovest will be addressing the delegates on the progress in support of the Iraqi start up ecology.

More speakers are expected to confirm.

For more information and to register, please contact london@webuildiraq.org.

(Source: IBBC)

By Dr Amer K. Hirmis.

Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

World Bank’s ‘Doing Business 2020 – Iraq’ report: A Critique

The World Bank published ‘Doing Business 2020– Iraq’ report (henceforth WB2020), on September 24 2019, amid tumultuous political and economic events in Iraq.

WB2020 aims to “recommend reforms to improve performance in each of the indicator areas” (https://www.doingbusiness.org/content/dam/doingBusiness/country/i/iraq/IRQ.pdf).

It covers business regulation and reform in different cities (Baghdad in the case of Iraq) and regions within nations. Countries/regions/cities can compare their business regulations with the 190 economies ranked in the report.

The report encourages economies to compete towards more efficient regulation; it offers measurable benchmarks for reform; and serves as a resource for those interested in the business climate of each economy.

It is instructive to benchmark Iraq’s performance in creating a conducive (if competitive) environment to do business.

Please click here to download Dr Hirmis’ full report in pdf format.

Dr Amer K. Hirmis is Principal at UK-based consultancy CBS Ltd. (2008-present). In October 2009, Amer began a 20-months assignment as Senior Development Planning Advisor to the Ministry of Planning in Iraq (funded under the DANIDA programme for ‘peace and reconstruction’ in Iraq). The posts Amer has assumed include Chief Economist and Head of Policy at the London Chamber of Commerce and Industry (1992-5), Economic Advisor to UK South West Regional Development Agency (1996-8) and Associate Director and then Head of Consulting and Research (Middle East) at the global firm DTZ (1998 to 2007).

Dr Amer K Hirmis is the author of ‘The Economics of Iraq – ancient past to distant future’

[https://www.amazon.com/Economics-Iraq-Ancient-distant-future/dp/1999824105]

 

By John Lee.

Iraq has been ranked 172nd out of 190 countries in the World Bank‘s recent Doing Business 2020 report, down from 171st place the previous year.

Top of the list were New Zealand, Singapore and Hong Kong, with last place going to Somalia, just behind Eritrea and Venezuela. Iran ranked 127th, with Libya 186th.

Doing Business 2020 is the 17th in a series of annual studies investigating the regulations that enhance business activity and those that constrain it. It provides quantitative indicators covering 12 areas of the business environment in 190 economies.

The goal of the Doing Business series is to provide objective data for use by governments in designing sound business regulatory policies and to encourage research on the important dimensions of the regulatory environment for firms.

More details on the full report here.

65-page profile of Iraq here.

(Source: World Bank)

From Peace to prosperity:

The Conference to find out what’s happening for Iraq business.

The Iraq Britain Business Council (IBBC) Autumn Conference in Dubai on December 8th is set against a backdrop of relative peace and security in Iraq, and the prospect of oil revenues surging through the economy is driving a wider range of business opportunities and a prospective 8% increase in GDP.

Peace is enabling the economy to diversify through the revenues that pay for a range of infrastructure projects. So this Autumn we are focusing on a range of sectors set to benefit from a stable Iraq: namely, Water, Transport and Logistics, Energy and Tech.

The recent protests have also spurred on Government reforms and incentives to drive employment, entrepreneurship and service diversity, and increase the volume of opportunity that lies ahead and the prospects for not just business-to-business but also a burgeoning consumer market.

The Iraqi Electricity Minister will likely be speaking about his reforms to open up the market to SME’s, training and new players. Other ministers including those from Construction and Transport are attending.

The recent announcement of a 10year tax-free period for SMEs in Iraq will also stimulate the Tech entrepreneur market and drive the uptake of engineering skills.

At this conference, we will discuss big-picture economics with Professor Frank Gunter (Lehigh University), Ahmed Tabaqchali (AFC Iraq Fund), and Simon Penny (UK Trade & Investment), who will address the economic backdrop in the Middle East, and the context for Iraq in particular.

The World Bank and Wood Plc will cover the water sector, while Rolls Royce, Basra Gateway Terminal (BGT), and Menzies will look at transport and logistics, and Iraq’s Electricity Minister, GE, Siemens and Enka will focus on energy.

Alongside the conference our Tech Forum brings experts on HealthTech and Educational Tech, including speakers from GE, Siemens Healthcare, KPMG, EY, Google and the British Council, among others.

While key opportunities will be outlined, the real opportunity for business is to meet the people directly involved in contracts and supply-chain opportunities. This is the place to do business, to network and to find out what’s happening in the Middle East’s most potentially dynamic market that is Iraq.

For further information and to find the latest updates on speakers – more are expected – please contact  london@webuildiraq.org or visit the website to register for tickets.

https://iraqbritainbusiness.org/event/autumn-conference-at-the-address-hotel-dubai

The year it’s all on the up…

By John Lee.

On Wednesday 24 July, Khaled T. Kanaan, Chairman of the Jordan Iraqi Economic Association (JIEA), met with HE Mr. Ali Mohsen Al-Alaq, Governor of the Central Bank of Iraq (CBI).

The meeting was a follow-up to the “Digital Transformation in Financial Sector Forum” held in Baghdad on 10 July, which was jointly organized between the JIEA and the Iraq Private Banks League (IPBL), supported by the International Finance Corporation (IFC) of the World Bank Group.

The meeting addressed the CBI strategy to move forward with their drive towards digital transformation in the financial sector.

The JIEA conveyed the message that Jordanian fintech firms will be more than ready to engage in any effort that will assist the Iraqi side in their drive.

(Source: Jordan Iraqi Economic Association)

By John Lee.

The World Bank will reportedly lend a total of $200 million to Iraq for upgrades to its electricity grid.

According to Basnews, the agreement was signed by Finance Minister Fuad Hussein and Yara Salim, a representative to the World Bank.

There will be attempts to address the problem of power supply in Basra province and surrounding areas in collaboration with the World Bank,” the Iraqi minister added.

Iraq is expected to implement the projects within five years, and repay the debts in ten to 15 years.

(Source: Basnews)

Iraq, Jordan and Lebanon have committed to digitally transform their countries, discussing their roadmaps to support the Mashreq region’s integration into the rapidly evolving global digital economy.

The commitments came on the first day of the landmark, high-level forum on Digital Economy and Entrepreneurship Development in Mashreq, which was  hosted by the Government of Jordan and organized jointly with the World Bank Group.

The three governments had identified the challenges and solutions that would allow Mashreq countries to realize more gains to their economies and societies. Digitalization is shaping the present and future of economic activities as it brings about higher productivity, efficiencies and quicker inclusion of lagging economic and social groups, such as women and youth.

Mobile and digital solutions are contributing to facilitating greater financial inclusion. E-commerce and other digital applications are being leveraged to promote entrepreneurship, including the empowerment of women as entrepreneurs, and digital solutions are being sought to improve access to learning resources in an easier and less expensive way.

The Mobile Gender Report for 2018 lists a gender gap in mobile ownership among women in the region which can reach up to 20%. while this gap is only 2% in countries like Egypt or Turkey. Bringing this gap to less than 4% everywhere in the Mashreq would bring income opportunities for women in the region. Broadband access is estimated to increase employment among married women by as much as 4% in high income economies.

Broadly speaking, Iraq, Jordan and Lebanon face similar obstacles to their quest to transform Mashreq into a regional hub for IT and Business Process Outsourcing.  Policymakers, international and regional businesses, startups and investors all convened at the King Hussein Business Park to enrich the discussion with their expertise and experience on how to push this agenda forward.

The digital roadmaps were presented by the three ministers holding the Information Technology portfolio in their respective countries. World Bank Group  committed to supporting these countries achieve their goals with specific focus on increasing broadband access, establishing cashless payment systems and bridging the gender gap in mobile usage.

Iraq

The Government of Iraq (GOI) is committed to further advancing the digital economy and aims to ensure affordable access to high speed internet, by doubling access to broadband to 54% in 2021 and 90% by 2030, achieving 100% broadband network coverage, establishing a conducive regulatory and policy framework for digital payments, developing interoperable digital payments infrastructure, and striving towards 100% financial access. The GOI is also committed to delivering digital government services and ensuring highest standards of cybersecurity and data privacy to boost consumer trust. The GOI is also keen to ensure that education and training programs meet current and future job market skills needs.

Jordan

The Government of Jordan (GOJ) is committed to advancing the digital economy as strategic growth sector for the Kingdom. On digital infrastructure, the GOJ commits to further developing access to internet broadband to reach 100% penetration rate by 2021. As part of that, the GOJ is opening the National Broadband Network (7,000 kilometers of fiber) for Public Private Partnership, allowing affordable fiber broadband to 1.3 million households around Jordan. On digital payments, the GOJ commits to increasing country-level cashless payments from 33 to 50% by 2020 and to digitizing 80% of government to citizens payments by 2021.  On developing digital skills, the GOJ will launch a national skills development initiative to train 35,000 people on the 21st century skills and mainstreaming digital skills in public schools to train 300 thousands by 2022. To enable a friendly business environment for entrepreneurs, the GOJ is committed to launching a regulatory reform process in 2019, following a participatory approach with ecosystem representatives. To complete automation of Government services, the GOJ commits to automate key services by 2021. Building on the recent transformations of the Ministry of ICT to Ministry of Digital Economy and Entrepreneurship, the GOJ will launch its digital transformation action plan in partnership with the ecosystem by end of 2019.

Lebanon

The Government of Lebanon (GOL) is committed to building a Digital Nation and to transform Lebanon into a regional technology and innovation hub. The GOL  is in the process of finalizing its digital transformation plan and aims to double the knowledge economy’s contribution to GDP and double the employment in this sector by 2025. To achieve this, the GOL plans to: (i) reach 100% broadband penetration rate by end of 2021; (ii) develop and execute the digital transformation of the public sector and offer citizens a fully digitized journey across all government services, with 500,000 users signed up to the government digital platform by end of 2021; (iii) provide a supportive regulatory framework to help grow the Fintech industry and facilitate digital payments, launch a new national digital currency by the end of 2020, and launch an Electronic Trading Platform (ETP) to improve financing for private sector activities in 2020; (iv) leverage its pool of skilled and entrepreneurial talent in Lebanon and abroad to build a digital economy focused on innovation and private initiative, increase the number of start-ups fivefold and double yearly venture capital funding by 2025; and (v) address the existing skills gap by preparing the youth for the global, digital jobs of the future through launching a national training academy by 2021.

The World Bank commits to support Iraq, Lebanon and Jordan in achieving their visions and plans for digital transformation by providing the necessary resources and instruments. The World Bank will work closely with the Governments, private sector, academia and civil society to maximize the impact of digitization and reap the digital dividends for their societies. This support will include: (i) pursuing plans to ensure affordable access to high-speed internet and facilitate investment in broadband; (ii) delivering digital government services and improving access to data, while ensuring the highest standards of cybersecurity and data privacy; (iii) developing a modern digital payment infrastructure; (iv) scaling up digital entrepreneurship; and (v) ensuring education and training programs meet current and future skills needs.

More details, including a video of the procedings, can be found here.

The second high-level Digital Mashreq Forum will convene in Beirut in June 2020.

(Source: World Bank)

Iraq, Jordan and Lebanon have committed to digitally transform their countries, discussing their roadmaps to support the Mashreq region’s integration into the rapidly evolving global digital economy.

The commitments came on the first day of the landmark, high-level forum on Digital Economy and Entrepreneurship Development in Mashreq, which was  hosted by the Government of Jordan and organized jointly with the World Bank Group.

The three governments had identified the challenges and solutions that would allow Mashreq countries to realize more gains to their economies and societies. Digitalization is shaping the present and future of economic activities as it brings about higher productivity, efficiencies and quicker inclusion of lagging economic and social groups, such as women and youth.

Mobile and digital solutions are contributing to facilitating greater financial inclusion. E-commerce and other digital applications are being leveraged to promote entrepreneurship, including the empowerment of women as entrepreneurs, and digital solutions are being sought to improve access to learning resources in an easier and less expensive way.

The Mobile Gender Report for 2018 lists a gender gap in mobile ownership among women in the region which can reach up to 20%. while this gap is only 2% in countries like Egypt or Turkey. Bringing this gap to less than 4% everywhere in the Mashreq would bring income opportunities for women in the region. Broadband access is estimated to increase employment among married women by as much as 4% in high income economies.

Broadly speaking, Iraq, Jordan and Lebanon face similar obstacles to their quest to transform Mashreq into a regional hub for IT and Business Process Outsourcing.  Policymakers, international and regional businesses, startups and investors all convened at the King Hussein Business Park to enrich the discussion with their expertise and experience on how to push this agenda forward.

The digital roadmaps were presented by the three ministers holding the Information Technology portfolio in their respective countries. World Bank Group  committed to supporting these countries achieve their goals with specific focus on increasing broadband access, establishing cashless payment systems and bridging the gender gap in mobile usage.

Iraq

The Government of Iraq (GOI) is committed to further advancing the digital economy and aims to ensure affordable access to high speed internet, by doubling access to broadband to 54% in 2021 and 90% by 2030, achieving 100% broadband network coverage, establishing a conducive regulatory and policy framework for digital payments, developing interoperable digital payments infrastructure, and striving towards 100% financial access. The GOI is also committed to delivering digital government services and ensuring highest standards of cybersecurity and data privacy to boost consumer trust. The GOI is also keen to ensure that education and training programs meet current and future job market skills needs.

Jordan

The Government of Jordan (GOJ) is committed to advancing the digital economy as strategic growth sector for the Kingdom. On digital infrastructure, the GOJ commits to further developing access to internet broadband to reach 100% penetration rate by 2021. As part of that, the GOJ is opening the National Broadband Network (7,000 kilometers of fiber) for Public Private Partnership, allowing affordable fiber broadband to 1.3 million households around Jordan. On digital payments, the GOJ commits to increasing country-level cashless payments from 33 to 50% by 2020 and to digitizing 80% of government to citizens payments by 2021.  On developing digital skills, the GOJ will launch a national skills development initiative to train 35,000 people on the 21st century skills and mainstreaming digital skills in public schools to train 300 thousands by 2022. To enable a friendly business environment for entrepreneurs, the GOJ is committed to launching a regulatory reform process in 2019, following a participatory approach with ecosystem representatives. To complete automation of Government services, the GOJ commits to automate key services by 2021. Building on the recent transformations of the Ministry of ICT to Ministry of Digital Economy and Entrepreneurship, the GOJ will launch its digital transformation action plan in partnership with the ecosystem by end of 2019.

Lebanon

The Government of Lebanon (GOL) is committed to building a Digital Nation and to transform Lebanon into a regional technology and innovation hub. The GOL  is in the process of finalizing its digital transformation plan and aims to double the knowledge economy’s contribution to GDP and double the employment in this sector by 2025. To achieve this, the GOL plans to: (i) reach 100% broadband penetration rate by end of 2021; (ii) develop and execute the digital transformation of the public sector and offer citizens a fully digitized journey across all government services, with 500,000 users signed up to the government digital platform by end of 2021; (iii) provide a supportive regulatory framework to help grow the Fintech industry and facilitate digital payments, launch a new national digital currency by the end of 2020, and launch an Electronic Trading Platform (ETP) to improve financing for private sector activities in 2020; (iv) leverage its pool of skilled and entrepreneurial talent in Lebanon and abroad to build a digital economy focused on innovation and private initiative, increase the number of start-ups fivefold and double yearly venture capital funding by 2025; and (v) address the existing skills gap by preparing the youth for the global, digital jobs of the future through launching a national training academy by 2021.

The World Bank commits to support Iraq, Lebanon and Jordan in achieving their visions and plans for digital transformation by providing the necessary resources and instruments. The World Bank will work closely with the Governments, private sector, academia and civil society to maximize the impact of digitization and reap the digital dividends for their societies. This support will include: (i) pursuing plans to ensure affordable access to high-speed internet and facilitate investment in broadband; (ii) delivering digital government services and improving access to data, while ensuring the highest standards of cybersecurity and data privacy; (iii) developing a modern digital payment infrastructure; (iv) scaling up digital entrepreneurship; and (v) ensuring education and training programs meet current and future skills needs.

More details, including a video of the procedings, can be found here.

The second high-level Digital Mashreq Forum will convene in Beirut in June 2020.

(Source: World Bank)

By John Lee.

The United Nations has advertised new positions in Iraq:

(Source: UN)

(Picture: Finger pressing a new career start button, from Olivier Le Moal/Shutterstock)