The “Industry Pioneers” Conference and Forum was held in Tripoli yesterday, the Tripoli Chamber of Commerce reports. The event was organized by the private sector Al-Yaqeen Bank and sponsored by Banca UBAE SpA and Bank ABC.
The event was attended by the Minister of Economy and Trade, Suhail Abu Shiha; the Chairman of the National Economic and Social Development Board (NESDB), Mahmoud Al-Futaisi; the Chairman of the General Union of Chambers of Commerce, Mohamed Al-Raied; the head of the Libyan Industry Union (LIU), Ali Nuseer, as well as several undersecretaries, heads of economic and industrial bodies, and representatives of the private sector.
The event brought together a select group of decision-makers, business leaders, experts, and pioneers in the industrial sector for a dialogue that addressed the current state of Libyan industry, its challenges, and opportunities for development in the coming phase.
With the participation of leading experts and industry pioneers, the forum addressed:
– The importance of supporting national industry
– Enhancing the investment environment
– The role of the industrial sector in achieving economic development and diversification
The event’s discussions were structured around three main themes addressing key issues related to the future of Libyan industry. These were:
– An analysis of the current state of Libyan industry and the structural challenges it faces
– A review of successful national models in the industrial sector
– An examination of promising sectors and future development opportunities
The event also featured interactive dialogue sessions that emphasized the importance of public-private partnerships (PPP) in supporting national industry and creating a stimulating business environment that contributes to economic sustainability and the promotion of local products.
In a statement to Libya Herald, Rashid Sawan, Chairman of the Libyan Business Council (LBC) and a leading figure in Libyan industry, affirmed that such forums represent an important step towards building a genuine industrial base in Libya. He noted that Libyan industry is experiencing gradual growth despite the challenges, thanks to the influx of new national investments and the increasing interest of the private sector in local production.
Sawan added that “direct dialogue between business leaders, financial institutions, and decision-makers creates a clearer and more stable environment for investors and contributes to addressing many of the obstacles facing the industrial sector.” He emphasized that bank support for industrial projects will play a pivotal role in boosting production, creating jobs, and reducing reliance on imports.
Speaking in the dialogue sessions related to the structural challenges of the Libyan industry, Ali Nuseer, CEO of the Libyan Industry Union (LIU), stressed the importance of supporting national industry, strengthening the partnership between the public and private sectors, and working to create a stimulating investment environment that contributes to the development of the industrial sector and increasing its contribution to the Libyan economy.
The “Industry Pioneers” event comes as part of Al Yaqeen Bank’s efforts aimed at supporting national industry and opening new horizons towards a more diversified and sustainable Libyan economy.
