Economic expert Hashim Al-Haboubi has warned against any plans to sell state-owned assets, especially factories and facilities belonging to Iraq’s Ministry of Industry, saying such a move would waste valuable national resources and harm the country’s long-term economic interests.
Al-Haboubi explained that the Ministry of Industry owns a large number of factories and industrial plants with significant production potential. According to him, these facilities could generate substantial revenue and support the national economy if they were rehabilitated and brought back into operation.
He pointed out that many employees at these factories are still receiving government salaries despite the facilities not operating at full capacity, meaning the state continues to bear costs without receiving productive output in return.
However, Al-Haboubi acknowledged that restoring and modernizing these factories would require large financial investments, which could place additional pressure on Iraq’s already strained budget.
Instead of selling the assets, he suggested that the government pursue investment partnerships with qualified local and international companies. Under this approach, private investors could help finance the rehabilitation and operation of the factories while the state retains ownership of the assets.
Al-Haboubi stressed that he completely opposes the sale of state assets in any sector, arguing that joint investment agreements offer a better solution. He believes such partnerships can revive Iraq’s industrial sector, increase domestic production, create economic opportunities, and reduce pressure on public finances without sacrificing national assets.
According to Al-Haboubi, investment and modernization—not privatization through asset sales—are the most effective path to rebuilding Iraq’s industrial base and strengthening the country’s economy.
