Hadi Ali Ahmed Abdel Qader, the Public Affairs Advisor at the Libyan Ministry of Investment, has emphasized that transitioning to a private economy requires a comprehensive and integrated plan. He stated that such a plan must include legislative reforms, financial support, youth empowerment, and building trust between the state and the private sector. Without this, Abdel Qader warned, unemployment among graduates could worsen, threatening social and economic stability.
In a detailed Facebook post, Abdel Qader highlighted the urgency of strengthening the private sector’s role in absorbing new graduates, especially suspending government hiring due to the Administrative Control Authority decision in Tripoli. He proposed several solutions and mechanisms to address these challenges:
Proposed Solutions
1. Government Incentives for the Private Sector
– Tax exemptions are available for companies that hire new graduates, particularly in productive sectors like agriculture, industry, and technology.
– Financial support through grants or low-interest loans for companies that create jobs, with incentives tied to the number of positions offered.
– Public-private partnerships to develop infrastructure or service projects that utilize the skills of graduates.
2. Entrepreneurship Development
– Establishing business incubators to provide consulting and initial funding for small and medium enterprises (SMEs), with a focus on graduate-led projects.
– Creating an innovation fund to finance youth initiatives in fields like technology and renewable energy, aligning with Libya’s market needs.
– Organizing workshops in collaboration with local or international entities to enhance skills in marketing and financial management.
3. Education and Training Reforms
– Designing intensive training programs in partnership with the private sector to bridge the gap between academic skills and market demands.
– Updating curricula to include emerging fields such as artificial intelligence, clean energy, and logistics, with an emphasis on practical application.
– Strengthening vocational and technical education to create a skilled workforce for industrial and craft-based professions.
4. Attracting Local and Foreign Investment
– Improving the business climate by simplifying bureaucratic procedures, reducing corruption, and ensuring political stability to attract foreign companies.
– Offering fast-track licensing and incentives for startups in sectors like tourism, agriculture, and mining.
5. Promising Sectors for Growth
– Supporting technology startups and digital transformation initiatives, given the increasing reliance on electronic services.
– Leveraging Libya’s geographical location to develop solar energy projects and create jobs in renewable energy.
– Encouraging investment in smart agriculture to enhance food security and provide employment in rural areas.
6. Role of the International community and its Organizations
– Programs supported by the United Nations or the European Union, such as funding employment projects or offering scholarships in high-demand fields.
– Partnerships with foreign universities to establish branches or educational programs tailored to the needs of the private sector.
7. Graduate Awareness
– Awareness campaigns to shift societal perceptions toward private-sector employment and entrepreneurship.
– Highlighting success stories of young Libyans in the private sector to inspire others.
Challenges
Abdel Qader also outlined several challenges that could hinder this transition:
– Weak Infrastructure
– Security Concern
– Cultural Reliance on Government
Abdel Qader stressed that addressing these challenges is critical to ensuring a successful transition to a private economy.