Iraq approves Baghdad gold city project
Iraq's Ministry of Trade announced on Wednesday that the Economic Ministerial Council has approved a proposal to establish a Global Gold City in Baghdad, describing the move as a 'strategic step' to localize the gold and jewelry industry and boost domestic production.
Trade Minister Atheer Dawood Al-Ghurairi stated that the initiative marks a qualitative leap in developing national industries. The city will feature an integrated complex of specialized industrial units, advanced training centers for gold craftsmanship aligned with international standards, as well as a modern gold and jewelry market and exchange.
For his part, Riyadh Fakher Al-Hashemi, Director General of Foreign Economic Relations, said the project aims to support the private sector and expand its role in Iraq's economy. The city will be established within the Integrated Economic City in Baghdad and is intended to position the capital as a regional hub for gold manufacturing and trade.
He added that the ministry has already begun coordination with the National Investment Commission to finalize land allocation and issue investment licenses as preliminary steps toward launching the project.
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