Baghdad: The Ministerial Council for the Economy has approved measures to streamline approval procedures for the establishment of industrial cities, aiming to expedite the process by setting a specific timeframe for completing transactions and approvals. This decision was taken during the fifteenth session of 2025, chaired by Deputy Prime Minister and Minister of Planning, Mohammed Tamim, at the Council building, with the presence of key ministers and officials from various sectors.
According to National Iraqi News Agency, the session included discussions on several agenda items, leading to necessary decisions. A notable discussion was led by the Prime Minister’s Advisor, focusing on evaluating and developing the insurance sector in Iraq, with a particular emphasis on the Iraqi Insurance Company. Additionally, the Council addressed environmental concerns by hosting the Director General of the Technical Department at the Ministry of Environment. The discussion centered on monitoring genetically modified soybean meal shipments, using import licenses to build a database and minimize environmental and health impacts.
The Council also recommended to the Council of Ministers the inclusion of soybean meal in import licenses. Furthermore, a committee was formed, comprising representatives from various ministries, the Central Bank of Iraq, and the private industrial sector, to conduct a comprehensive study on lending mechanisms for industrial projects. This committee will submit its findings and recommendations to the Ministerial Council for the Economy.
Additionally, the Council approved the Ministry of Industry’s request to reduce approval procedures for industrial city establishments and set a completion timeline. This will be managed through the Committee for Allocation of Lands to State Projects, with coordination ensured by including a member from the Industrial Cities Authority. The Council also authorized changes to the Ministry of Planning’s request for infrastructure projects in Kirkuk and surrounding areas, highlighting specific developments in Al-Hawija district and other neighborhoods.