Iraq Global Gold City project marks a new milestone in developing the country’s gold and jewelry industry through strategic investment.
The Cabinet approved a plan from the Ministry of Trade to establish a national gold and jewelry hub in Baghdad. This initiative seeks to boost local gold production, develop skilled labor, and enhance industrial independence.
Trade Minister Dr. Athir Daoud Al-Ghurairi described the project as a major boost for national industries. The city will include advanced production units, gold markets, and professional training centers for jewelry-making skills.
In addition, the project offers an integrated setup for design, manufacturing, marketing, and retail. Local businesses can use shared resources and infrastructure to expand production and reach wider markets.
Moreover, the initiative will focus on developing local talent. It will offer modern training programs to support gold craftsmanship and create new jobs across the jewelry sector.
The Iraq Global Gold City also fits into Iraq’s broader plan to diversify the economy and reduce dependence on imports. Dr. Al-Ghurairi explained that this project supports the national vision for long-term industrial growth.
Furthermore, Riyadh Fakher Al-Hashemi, Director General of the Foreign Economic Relations Department, confirmed that the project empowers the private sector. He highlighted that the city will provide opportunities for private firms to lead in manufacturing and trade.
He also mentioned the strategic location within Baghdad’s integrated economic zone. That zone positions the Iraq Global Gold City as a future hub for regional gold trade and investment activity.
Officials expect this project to attract attention from investors across the Middle East. They see it as a chance to connect Iraq to the global jewelry value chain.
Meanwhile, the Ministry of Trade is working closely with the National Investment Commission. Together, they are finalizing land allocation and preparing investment licenses to launch the project.
In conclusion, the Iraq Global Gold City will strengthen Iraq’s gold sector, grow local industry, and promote skilled labor development for future generations.
