Economic Developments – Baghdad
The Ministry of Industry and Minerals has announced plans to inaugurate four industrial cities this year across Nineveh, Basra, Babylon, and Wasit.
Riyad Jassim Kazem, Assistant Head of the Industrial Cities Authority, reported that the initiative includes the establishment of the industrial city in Mosul, which will focus on medium and light petrochemical production covering an area of 400 dunams. Additionally, an industrial city in Basra will cater to construction industries, while the city in Babylon will emphasize medium and light manufacturing. Furthermore, Wasit will be home to the first environmentally sustainable industrial city, also specializing in medium and light industries.
These industrial cities are designed to support diverse sectors, comprising food and petrochemical industries, alongside research centers dedicated to advancing industrial technologies. This approach aims to elevate the country’s industrial capabilities to align with global standards.
Kazem emphasized that the current government is committed to creating favorable conditions for both local and foreign investors by offering investment incentives. This strategy aims to attract international and local companies to undertake these significant projects.
Furthermore, the development of industrial cities is expected to generate thousands of jobs, thereby reducing unemployment rates. It is also poised to provide ample employment opportunities for young graduates, facilitating their integration into the private sector workforce.
The establishment of these industrial cities is regarded as a priority within the government’s development agenda, viewed as crucial for stimulating economic growth. The Ministry is actively working to expedite the implementation of these projects and ensure their timely entry into service.
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