Libya’s industrial sector has lacked state support for decades: Minister of Industry and Minerals
Posted – 21st May 2021
Libya’s industrial sector lacks the appropriate support from the state like all industrial countries such as Japan and China or countries with similar economic conditions like Saudi Arabia.
The statement was made by Libyan Minister of Industry and Minerals Ahmed Abuhisa Tuesday at the opening of the First Ordinary Meeting of 2021 with all the bodies affiliated with his Ministry. The meeting was held at the Industrial Research Centre in Tajura, Tripoli.
The Minister said that industry in Libya could be an important pillar of the national economy if given the required attention and support, stressing that there are several economic factors that support an industry with a competitive advantage, the most important of which is the cost of energy, manpower, distinctive youth forces and the enormous natural resources.
Libya’s industrial sector has suffered from great difficulties for decades
Abuhisa said the sector has suffered and is still suffering from faltering moves and great difficulties for decades, despite the presence of specialized and competent national cadres.
He attributed the causes of the sector’s suffering to some economic trends, the lack of a clear economic identity for the previous state, mismanagement, and administrative and political instability, especially in recent years, as well as other reasons.
Divert local consumption from imports to local products
The Minister said that since he assumed his duties, he has been working on building on existing, albeit modest, acquisitions in order to develop them and divert local consumption from imports to locally produced goods.
He added that the Ministry is working to stimulate investment opportunities and overcome the difficulties facing investors.
The Minister stressed that the industrial investor, whether a national or a foreigner, is a basic and important partner in the work to develop and restart the stalled industries. The investor is also important in developing or establishing small and medium industries based on modern scientific foundations that depend on innovation, creativity and leadership as an approach to it and in an organized manner.
Will support the private sector to establish competitive industries
He said Libya is passing through a specific phase that requires intensified efforts and cooperation by all in order to develop an industrial sector and rebuild it on a solid industrial base in order to gain high reliability in the domestic market and overseas markets.
The Minister affirmed that the Ministry will support the private sector to play its role towards establishing competitive industries with a plan and objectives that the Ministry seeks to achieve by concentrating efforts, intensifying hands and benefiting from existing expertise.
He stressed to the attendees that the Ministry’s doors are open to receive their comments and suggestions, which would support and develop the Ministry’s programmes for the advancement of its industrial companies.
LIBYA HERALD – Sami Zaptia
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