Iraq’s port revenues soar by 100 percent in 2023

BASRA, January 3 — Iraq’s ports generated over 985 billion dinars in revenue in 2023, doubling the country’s income from its southern harbor since 2020, according to an announcement from the ports’ management on Tuesday.

Farhan Al-Fartousi, Director of the General Company for Iraqi Ports, made the announcement during a press conference at the company’s headquarters in Al-Ma’qil.

In a statement, Al-Fartousi said:

As promised upon taking office, we have achieved an increase in port revenues, reaching a threshold of trillions in 2023.

This accomplishment is attributed to the strong management of the ports, the dedication of its staff, the implementation of new projects, and the opening of new facilities, all part of strategic plans that have streamlined operations and combated corruption.

The focus is now intensifying towards digital management, and 2024 is expected to mark the era of digitization in Iraq’s ports.

Achievement percentages in the five projects of the Al-Faw Port are high, and the ports are on the verge of entering the operational phase.

With a determined will, the decision to select the operating entity for the Grand Al-Faw Port will be based on an economic vision rather than a political one.