Iraq is experiencing a period of stability, with its economy expanding and diversifying to meet the growing needs of its population. To further enhance these developments, the Iraq Britain Business Council (IBBC) has been invited by Prime Minister Mr. Al Sudani to host a major conference on innovation in Baghdad.
The conference comes on the heels of a successful visit to the UK by the Iraqi Prime Minister and several key ministers. During this visit, a landmark trade deal estimated at $15 billion was announced between the UK and Iraq, covering multiple sectors, including cutting-edge technology and knowledge transfer. Many of the companies involved in this deal will be speaking at the upcoming Baghdad conference, which will focus on how Iraq is leveraging innovation to drive its future growth.
The conference will serve as a platform to showcase Iraq’s current advancements in innovation, as well as the possibilities for future progress, with the support of international partners, including the UK. IBBC’s members are already implementing innovative solutions in Iraq, which will be highlighted during the event. Key discussions will center around the power of knowledge transfer, exploring how Iraq can effectively incorporate these innovations internally, and the tangible benefits of doing so.
One of the key speakers, Professor Frank Gunter, will present a paper on the “ease of doing business in Iraq.” He will highlight how modernizing and digitizing Iraq’s financial system can accelerate transactions, improve access to international funds, and, importantly, reduce opportunities for corruption. Experts from EY and Hogan Lovells will also discuss their work on modernizing Iraq’s Central Bank systems, as well as ongoing efforts to consolidate the country’s banking sector and implement critical banking reforms.
In addition, 1001 Media, a leading Anglo-Iraqi streaming company, will share its success story, having already signed up over 2 million subscribers. The company is focused on protecting intellectual property in Iraq, opening up new opportunities for Iraqis to create content, generate income, and contribute to tax revenues. Other key discussions will cover the rollout of 5G technology and the delivery of fast internet to support communications, as well as the importance of cyber protection for Iraqi assets, communications, and national defense.
As Iraq’s maritime industry grows, particularly with the opening of the Al Faw port, innovation in this sector is crucial. Al Zaman is rising to the challenge by building ship production and maintenance factories in Basra and establishing a maritime academy in the region, with knowledge transfer from the UK. Unihouse Global, an online and skills training provider, will be instrumental in training the next generation of maritime professionals for this new academy.
Energy innovation is another critical area for Iraq. To reduce the country’s carbon footprint and meet the demands of its growing population and industries, Iraq is exploring alternative sources of electricity, including solar and gas. Companies like Hydro C, BP, BGC, and Shell will share their experiences in capturing gas for electricity generation and applying advanced technologies to optimize oil field management.
The conference will be chaired by Mr. Jon Wilks, Senior Advisory at IBBC and former British Ambassador to Iraq. He will offer insights into the geopolitical landscape, positioning Iraq within the broader regional context, and explaining how technology is key to diversifying Iraq’s economy and ensuring its long-term development.
Several Iraqi government ministers have been invited to participate and join the panel discussions, ensuring the event is a collaborative effort between the private sector and the Iraqi government.
The conference will be followed by a reception on February 16th, providing delegates an opportunity to network and meet key sponsors. The principal sponsor for the event is Al Buttsan, with other notable sponsors including BP, Al Zaman, SAP, Hydro-C, and Al Maseer Insurance. Additional sponsors include SABIS, Defaf al Khaleej, and 1001 Media. The evening will conclude with a dinner sponsored by Sardar Group, and a historic tour of Baghdad, organized by Bil Weekend Tourist Company, will provide a unique experience for delegates.
The Baghdad conference promises to be a pivotal event, highlighting the innovative work already underway in Iraq and offering a blueprint for future growth. It underscores the importance of collaboration between Iraq and international partners in driving forward technological advancements and economic diversification in the country.
