Economy News – Baghdad
The Ministry of Commerce has announced the opening of new marketing centers (hypermarkets) in Baghdad and surrounding governorates, aimed at bolstering local products and creating job opportunities.
During the official inauguration of the Hypermarket Cooperation branches today in Baghdad, which took place under the auspices of Prime Minister Mohammed Shia Al-Sudani, six new branches were launched. These hypermarkets represent a significant step forward for the Iraqi market, focusing on delivering essential consumer food items as well as meeting the diverse needs of Iraqi families. This initiative aligns with the government’s economic strategy to stabilize commodity prices, promote economic balance, and enhance the purchasing power of consumers by offering prices lower than those found in existing local markets.
Al-Kilani emphasized that this venture marks a return to a model that has been absent from Iraq for over 25 years. The project is set to play a crucial role in addressing youth unemployment and promoting local products. Additionally, it aims to support distinguished societal groups, including families of martyrs and victims of terrorism, by providing them with special discounts during their shopping experiences.
The experimental operations conducted in the Al-Worker and Al-Salihiya neighborhoods received positive feedback from residents, indicating a marked interest in the shopping experience. The central markets that are now being reintroduced hold historical significance in Iraq’s commercial landscape, harking back to the time before 2003.
Qasim Al-Badiri, a member of the government communication team, stated that after a hiatus of approximately 25 years, the central markets are making a comeback, with six hypermarket centers established throughout Baghdad, including regions such as Al-Salihiya, Al-Sadr City, Al-Shaab, and Freedom. These markets are expected to offer subsidized prices that will be 20 to 30% lower than those currently available in local markets, thus enhancing food security and creating jobs for the local workforce in the surrounding areas.
Today, Prime Minister Mohammed Shia Al-Sudani inaugurated six hypermarkets in Baghdad, dedicated to the sale of food and goods at subsidized prices, with an additional 23 similar projects planned across Baghdad and other governorates.
