By Sami Zaptia.
Tripoli, 30 January 2022:
Libya has called on the international community to support its security and financial stability by lifting the freeze on its funds abroad and helping it to build the service sector. The call was made by Libya’s Minister of Economy and Trade, Mohamed Hwej, in an interview with Al-Jazeera Mubasher.
According to the summary of the interview published by the Ministry of Economy and Trade yesterday, the Minister said his government began its work by unifying its affiliated institutions and developed a plan aimed at improving the level of per capita income and raising the quality of services in all regions
The Ministry of Economy and Trade, upon its completion of the unification of its affiliated institutions, was keen to develop an action plan that would contribute to diversifying the national economy and raising the level of national product for non-oil exports.
Achieving food security for the citizen is one of the priorities of the ministry’s work during the current period, and starting to establish a strategic stockpile of grain and basic commodities.
The lack of budget approval had a significant impact on the government’s work, especially with regard to development and infrastructure development in the country.
The Minister said his Ministry started work on establishing special zones and activating transit trade by exploiting the geographical location of the State of Libya.
The Ministry has prepared the investment map, which aims to activate and develop all industrial and agricultural sectors and exploit the resources available in all regions to achieve economic diversification in partnership with the local and foreign private sector.
Hwej said he looked forward to implementing the government’s plan for reconstruction, with the participation of friendly countries, and for developing the oil, energy and investment sectors.
The Minister said his government is working to activate the contracts and agreements concluded in the fields of development and reconstruction and to implement investment projects according to the priorities of the stage.
He urged that 70 percent of oil revenues must be used for development, infrastructure development and implementation of investment projects in order to achieve the desired goal.
Late last year, he added, the government actually started activating the investment sector, as more than 140 investment projects were signed in various regions.