The وزارة الصناعة والمعادن العراقية announced the registration of more than 5,700 trademarks with revenues exceeding 4 billion IQD, noting the success of the #trademarks and Data Department in major achievements during 2023. The achievement reflects the support of the private sector, small and large projects. 5,702 trademarks were registered, including 4,795 foreign trademarks and 907 Iraqi trademarks, with the department continuing to provide trademark registration and audit services, issuing certificates, and completing transactions using technology to ensure the accuracy and speed. The department plays an important role as an economic window for Iraq and contributes to regulating markets and protecting the rights of Iraqi and foreign investors in the business environment.

What will this announcement affect? Why is it important?

1. #economy Support: This announcement indicates the success and progress in the business and industrial sector in Iraq. Registration of such a large number of trademarks states the presence of the active economic activity and diversification of businesses.
2. Encouraging #investment: The announcement enhances Iraq’s attractiveness as an investment destination, as it indicates that there is a trustworthy business environment that provides guarantees to investors, whether Iraqis or foreigners
3. Supporting the #Private_Sector: The Ministry of Industry and Minerals’ orientation towards supporting the private sector encouraging small and large projects enhances the opportunities for growth and economic development in Iraq.

4. #market Regulation: the department responsible for trademark registration plays an important role in regulating markets and ensuring the protection of the rights of consumers and companies
5. Increased #Revenues: total revenues of 4 billion dinars represent an additional source of government revenues, enabling the government to finance the public projects and services.
In general, this announcement represents a positive sign of the development of the economic sector in Iraq and its readiness to receive investors and promote economic growth