Transforming Iraq into a regional hub: Establishing a "Global Gold City" in Baghdad

The Iraqi Ministry of Trade has announced the establishment of a dedicated city for the gold and jewelry industry in the Iraqi capital, Baghdad. 

The aim is to localize the precious metal industry and boost local production within the country, "which will contribute to transforming Baghdad into a regional center for the gold industry and trade."

 The ministry announced in a statement on Wednesday, July 23, 2025, that the Ministerial Council for the Economy had approved the proposal submitted by the Ministry of Trade to establish a "Global Gold City" in Baghdad.

Minister of Commerce, Athir Dawood Al-Ghurairi, emphasized in this regard that "the project represents a qualitative leap in the development of national industries," noting that "the city will include an integrated system that includes specialized industrial units, advanced training centers for goldsmithing according to international standards, as well as advanced markets and an exchange for gold and jewelry. "

For his part, Director General of the Department of Foreign Economic Relations, Riyadh Fakher Al-Hashemi, explained that "the project aims to support the private sector and expand its contribution to the national economy," noting that "the city will be established within the integrated economic city in Baghdad, contributing to transforming the capital into a regional center for the gold industry and trade."

According to Al-Hashemi, the ministry has begun coordinating with the National Investment Commission to complete the requirements for land allocation and issue investment licenses in preparation for the project's implementation.  link