The Iraqi government has unveiled a plan to expand its oil production capacity from the current 4 million barrels per day (BPD) to over 6 million BPD by 2029. The strategy includes major redevelopment projects, international partnerships, and enhanced exploration efforts to solidify Iraq’s standing in the OPEC+ alliance.
BP and the Iraqi government have reached a comprehensive agreement to invest $25 billion in the redevelopment of four significant oil and gas fields in Kirkuk. This strategic partnership aims to enhance Iraq's oil production capacity and modernize its energy infrastructure, marking a pivotal step in the country's economic development.
Iraq's Ministry of Justice has announced its victory in a $1 billion arbitration dispute brought by the German firm AHG over a failed investment project. The ruling, delivered by an international tribunal, underscores the strength of Iraq’s legal defense and its growing confidence in handling cross-border disputes.
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Iraq's non-oil sector experienced a 5% GDP growth in 2024, with expectations of a 4% increase in 2025, attributed to advancements in agriculture and public spending, as reported by the Finance Minister and supported by IMF findings.
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The Iraqi Ministry of Transport has officially handed over detailed cadastral maps to four southern provinces—Dhi Qar, Muthanna, Diwaniyah, and Basra—as a strategic step to accelerate implementation of the Development Road Project. These documents will enable local governments to initiate land acquisition procedures essential for launching one of Iraq’s most ambitious infrastructure initiatives.
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On May 16, 2025, Iraq’s Minister of Electricity inaugurated the expansion of the West Baghdad Power Station from 1250 MVA to 1500 MVA, a key move to reduce grid congestion in western Baghdad and Fallujah. The upgrade supports the government’s 2025 Summer Preparedness Plan and reflects the country’s ongoing efforts to modernize its energy infrastructure.
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The Iraqi Ministry of Electricity has announced a significant initiative to promote the adoption of solar energy in homes. A new proposal under review aims to eliminate loan interest for citizens installing solar power systems, alongside a simplified application process and extended repayment terms. This step marks a key move toward sustainable energy and easing the burden on Iraq's national grid.
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On April 1, 2025, Iraq officially activated the Transports Internationaux Routiers (TIR) system, marking a significant milestone in the nation's efforts to modernize its trade and transport sectors. This development positions Iraq as a pivotal trade hub in the Middle East, promising reduced transit times, lower costs, and streamlined customs procedures.
Iraq is making significant strides toward a sustainable energy future. Prime Minister Mohammed Shia Al-Sudani has announced the establishment of the Carbon Economy Company and the launch of the nation's first International Conference on Carbon Economics. These initiatives aim to attract global investment, reduce carbon emissions, and diversify Iraq's energy sector by embracing renewable sources and innovative environmental strategies.
Opening a branch office is a rapid, capital-efficient way for an international company to enter a new market. Because the branch remains part of the parent company’s legal personality, all liabilities, taxes, and compliance duties flow directly back to headquarters. This article explains—without marketing embellishment—the exact concept of the foreign branch, the worldwide legal frameworks that govern it, the standard documentation every jurisdiction requires, the tax and accounting consequences of “permanent establishment” status, and the practical advantages and risks that executives must weigh before they file.