Speaking at today’s workshop on ‘‘Libyan Industrial Exports – Reality and Prospects’’ organised by the Libya Industry Union (LIU) and the Libyan Experts Forum (LEF), Rashid Swani, President of the LIU (as well as President of the Libyan Business Council – LBC), said he was not going to dwell over the destruction of Libyan manufacturing, but he will speak about the positives. Swani owns one of the leading Libyan water and drinks brands, amongst others.
Rentier economy v a manufacturing economy
‘‘We stood in places that were only sand a short time ago, and now thanks to the efforts of private sector institutions, they have become giant industrial fortresses that can provide several goods that we used to import from abroad. These will also search for foreign markets to export their production and will enter the wheel of diversifying the economy that we have suffered from for the past decades and – an economy that depends on rentierism.
Only 10 years ago, Libya imported almost everything, even bottled water. From here, businessmen have proven that they are able to revive the economy and depend on them to diversify in all fields.
Libyan businessmen can compete
Businessmen have confirmed that they are able to enter the wheel of production and impose their products in the Libyan market. They can compete strongly with imported products, knowing that competition is fierce in the Libyan market due to the presence of all the world’s products on the shelves of stores, and unfortunately not a single dirham was paid in customs duty on them. Businessmen were also able to compete with the global brands present in Libya by imposing 100 percent local products.
The Libyan citizen now trusts the local product more than the imported one because of the quality of production and high technology in specifications.
The government must open the way
From this platform, I address my message to the government to open the way for businessmen to enter all other manufacturing fields such as oil derivatives, petrochemical industry, mining and cement because they have proven their worth strongly in the work they have accomplished in the food industry.
Industry needs support
Industry must be supported because it is the one that will reduce the state’s job cadre, and it is the one that will provide job opportunities for citizens. It reduces spending on imports and strengthens the state’s trade balance. In addition, industry has an added value exceeding 40 percent.
Importers v local manufacturers
An economy led by traders will hinder industry. Traders create job opportunities in foreign countries and support overseas economies. As for the local factory, it is the one that employs local cadres. Yet, in these difficult circumstances that the country is going through, there are businessmen who have not stopped building within a country where it was impossible to establish a factory. But the will was stronger, and the challenge was more steadfast. This is also evidence of the stability of Libya and its launch into growth.
Thanks are extended to everyone who contributed to supporting the local industry in which 100 percent Libyan cadres work. We also thank the Minister of Economy for his attendance at this forum. Because attending such forums is nothing but a confirmation of his support for the private sector and supporting us to launch’’.
