The Iraqi government has officially designated March 4th as the country’s National Day for Entrepreneurship in a significant move to bolster the nation’s growing startup ecosystem. The announcement was made by Prime Minister Mohammed Shia’ Al Sudani during the second conference and exhibition for the national Riyada (Entrepreneurship) initiative in Baghdad.
Institutionalizing Support for Startups
In his speech, Prime Minister Al Sudani stated that the decision aims to formally establish an institutional framework that supports the private sector and creates tangible opportunities for the country’s youth. The national day serves to recognize and celebrate the contributions of entrepreneurs to Iraq’s economy. The Prime Minister emphasized that the Riyada initiative is a critical component of the government’s economic reform program, designed to foster a culture of innovation and self-reliance.
The Riyada Initiative’s Impact
The Riyada initiative has seen remarkable engagement since its launch. The Prime Minister noted that over half a million young Iraqis have participated in the program, with female participation reaching a significant 27%. This high level of involvement is seen as a key indicator of the initiative’s success in empowering a new generation of business leaders and shifting focus towards private-sector growth. The program aims to help small projects scale into larger, economically viable enterprises.
Integrating Entrepreneurship into Education
A core part of the government’s strategy is to embed entrepreneurial thinking within the education system. It was announced that an entrepreneurship curriculum is now being taught in 80 vocational high schools, with plans to expand the program to more schools and universities nationwide. Further strengthening this effort, the Ministry of Higher Education is establishing dedicated entrepreneurship divisions within university “science parks” to incubate and nurture innovative ideas from students.
About The Riyada Initiative
The Riyada initiative is a flagship program by the Iraqi government launched in March 2023. It is designed to foster a vibrant entrepreneurial society by providing young people with essential training, mentorship, and access to financing. The program aims to reduce unemployment, promote private sector growth, and equip Iraqi youth with the digital and financial skills needed to succeed in the modern economy.
Source: Video Agencyia
