Iraq’s Faw Port Project Faces Continued Setbacks
Iraq’s Grand Faw Port, planned to be one of the largest maritime ports in the gulf region, has been stalled due to political disputes.
Iraq has decided to exempt foreign companies involved in the Faw Port project from customs duties and taxes. This decision was an attempt to accelerate the completion of the stalled project, through which Iraq has sought to confront Kuwait’s maritime expansion by building a similar port nearby.
A government statement issued on Aug. 27 said, “In accordance with the laws in force, foreign companies shall be exempt from taxes and duties for the purpose of executing the Faw Port project, given that it is a developmental project.”
