The Libyan Prime Minister Abdul Hamid Dbeibah proposed offering public factories that haven't been operational for investment and operation to the private sector, directing the Minister of Industry and Minerals to provide the necessary facilities to support them in activating these complexes.

Dbeibah's proposal came in his speech at the opening of the International Conference on Industry and Technology, organized by the Ministry of Industry and Minerals under the slogan “Prospects for Investment, Partnership and Technology Transfer in Industry,” with the participation of a number of countries, which began Monday in Tripoli.

Dbeibah stressed the need for the public and private banking sector to play its role in supporting the industrial sector in all its fields according to a plan that contributes to the localization of local industry, reaffirming the need for the local and international private sectors to invest in the field of industry and provide the necessary support to Libyan manufacturers to do their role.

Dbeibah added that the entry of the private sector into the industrial sector began in varying proportions, pointing out that the private sector is the first to enter the industrial sector either through local or external partnerships, calling for the necessity of openness to the world and arranging Libya’s priorities, which are represented by the food industries - as most market needs are imported from abroad.

He believed that among the sectors in which the private sector should participate in Libya is the oil and services sector, pointing out that the world has gone through experiences in this regard: "friend countries like Turkey have successful industrial experiences that can be used to develop and diversify the Libyan economy.”

PM Dbeibah said that the banking sector in Libya “has not yet awakened and is in a deep slumber, whether in the public sector or the private sector,” stressing the need for the banking sector to support the industrial sector in order to advance the national economy, calling on Libyan businessmen to establish huge investment projects within the country.

He also pointed out that the petrochemical industries are a fertile field, and creating local and foreign partnerships will contribute to achieving significant growth in this sector, saying that the Supreme Council of Energy presented an investment project and foreign companies were unable to enter it, calling on the National Oil Corporation to present oil and gas projects to the Libyan private sector for investment.

Dbeibah directed the Minister of Industry and Minerals to offer public factories to the private sector for investment so that they can work and produce, stressing that the military industries affiliated with the Ministry of Defense possess a fertile infrastructure that can be used, especially heavy-industry factories, some of which have not been exploited.