Libyan Export Promotion Authority explains policy to establish fishing boats factory

The Libyan Export Promotion Authority (LEPA) said the justification for its policy to establish a fishing boats factory in Libya is that:

– Developing the local fishing fleet creates new job opportunities.

– This Increases the quantity of fish in local markets, resulting in lower fish prices due to increased supply.

– This creates self-sufficiency in marine resources and creates export opportunities.

– It also utilises Libya’s 2,000 km coastline more effectively and diversifies fish species.

– The policy also establishes more fish markets to accommodate the increased fish supply and develops essential infrastructure.

– It encourages fish exports to global markets, thereby creating a new source of foreign currency.

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