Analysis of trends towards privatization of industry in Iraq

Abstract

The call prevailed for the control of the public sector in achieving development based on several justifications, the most important of which is the desire to assert economic independence and control over natural resources and manage them under the supervision of the state, as well as the lack of a private sector capable of managing major projects, as well as undertaking huge economic development projects required by the development process in addition to To the desire towards socialism and the entailed provisions of state control over major projects.

The exacerbation of economic and developmental distortions led to a review of the role of the public and private sectors in the development process based on the conviction of the need to expand the participation of the private sector on the one hand, and on the other hand the ineffectiveness of some public sector projects to bring about the required change. Calls stressed the need to expand the size of the sector’s contribution The private sector has certain forms, including transferring ownership of public projects to it, and what has been called (the process of privatization, economic adjustment, or economic restructuring). These calls have been adopted by the International Monetary Fund, in line with its objectives and programs that aim to liberalize national economies and make the initiative in the hands of the private sector.

The results of economic development in Iraq have reflected its suffering from many problems that require a review of the development method, the employment of resources and the management of the development effort in the country. Developmental responsibility, he desired that the political and economic philosophy of the state clearly emphasizes the existence of a private sector side by side with the public sector in the development process, by adopting a policy of transferring projects to this sector, which was reflected in three experiences that were evaluated and it was necessary to anticipate the future of privatization in the Iraqi industry.