Benghazi University conference on the diversification of Libya’s economy makes recommendations

By Sami Zaptia.

Tripoli, 16 January 2022:

The conference organized by Benghazi University from 15 to 16 January on the need to diversify the Libyan economy concluded today with seven main recommendations.

Benghazi University reported that twenty researchers and economic experts participated. It reported that he most important recommendations were:

1. The necessity of addressing the problems that hamper growth and the economic development process in Libya during the past decades, whether economic or institutional.
2. Restructuring the Libyan economy by giving a greater role to the private sector and moving towards promising sectors.
3. The necessity of achieving dinar stability.
4. The state must pay more interest in the infrastructure in various economic sectors.
5. Orientation towards geographical diversification in industrial activities to ensure a balanced spatial development between the various regions in Libya.
6. Diversify energy sources by using renewable energies to reduce the speed of depletion of natural resources.
7. Working to establish specialised industrial zones similar to the Chinese experience, which would make the Libyan economy more attractive to foreign investment.