A workshop was held at the Industrial Research Centre in Tripoli on Tuesday entitled “Localization of the Oil Materials and Equipment Industry.”
The workshop was attended by the Minister of Industry and Minerals, Ahmed Abuhisa, and the Minister of Oil and Gas, Mohamed Aoun, as well as the Minister of Industry and Minerals and the Undersecretary for Public Affairs, Production Affairs and Industrial Zones, representative and member of the Board of Directors of the National Oil Corporation, the Acting Chairman of the Board of Directors of the National Oil Corporation, the Director General of the National Economic and Social Development Board, several experts and officials of bodies and centers, representatives of industrial companies, the Privatisation and Investment Board, the Military Industrialization Agency, a group of businessmen, and representatives of some the Chambers of Commerce.
A national strategic project to manufacture some oil sector needs locally
The Ministry of Industry and Minerals said the workshop comes as part of its efforts, together with the Ministry of Oil and Gas, to discuss the possibility of local industries meeting the needs of oil operations and in order to introduce this national strategic project led by a joint committee of experts and specialists from the two ministries.
The Ministry of Industry and Minerals said the Ministers, the National Oil Corporation, and all the experts and specialists expressed in their speeches and interventions their support for the work of the committee for the success of this national project.
An effort to reduce the costs of oil operations
The Ministry of Industry and Minerals explained that considering the presence of many industrial components in Libya, dialogues were held to discuss possible options for supporting local industries and intensifying investment in them. This is to reduce the costs of importing oil sector supplies and increasing the productivity of existing factories, as incentives for these industries and export prospects are provided.
Looking for local and foreign partnerships
As part of its objectives of work, the joint ministerial committee is looking for local and foreign partnerships and investments to reduce the bill for importing materials and equipment from abroad and circulating capital locally in investment projects to diversify the Libyan economy.
At the workshop, the committee provided a comprehensive explanation of its upcoming work programme, which was accepted and welcomed by all parties in support of this national strategic project. The Ministry of Industry and Minerals revealed that the committee will announce its next programme within days.