Iraq has approved a bold new plan to grow its gold and jewellery sector. The Ministerial Council for the Economy gave the green light to a proposal from the Ministry of Trade to build a “Global Gold City” in Baghdad. So this project marks a new chapter for the country’s national industry development.
The Iraq gold industry grows through this strategic plan, which focuses on local production and global trade. Trade Minister Dr. Athir Daoud Al-Ghurairi explained that the gold city will help modernize the industry. It will also increase Iraq’s ability to produce high-quality jewellery and precious metals.
The new gold city will include specialised gold factories, advanced markets, and training centres. These centres will teach local workers gold crafting skills that match international standards. The project also supports economic development by creating jobs and promoting industrial innovation.
According to officials, this initiative reflects Iraq’s focus on building local industries. It will also reduce dependence on imported jewellery and help Iraqi-made products reach global markets.
Riyadh Fakher Al-Hashemi, Director General of the Foreign Economic Relations Department, said the project will boost private sector growth. As well as it will give business owners new opportunities in manufacturing, retail, and exports.
The gold city will rise within Baghdad’s integrated economic zone. This location was chosen to attract investors and support large-scale industrial development. Officials hope Baghdad becomes a regional centre for gold production and trade.
The Iraq gold industry grows through strong cooperation between government agencies. The Ministry of Trade is working closely with the National Investment Commission (NIC) to move the project forward. They are now preparing land for development and starting the process of granting investment licences.
Officials believe that creating a specialised gold district in the capital will bring long-term economic benefits. It will attract international interest and strengthen Iraq’s position in the global jewellery market.
Iraq’s decision to build the Global Gold City highlights its focus on industrial growth.However, The government continues to invest in projects that support local talent and promote exports. With the right support, the Iraq gold industry grows into a powerful economic force.