Benghazi to set up Economic Council

Libya Herald reports that businessmen and political leaders in Benghazi have approved a proposal to set up an organisation to promote the city’s economic growth.

Forty business leaders, local council representatives and civil society activists unanimously approved the establishment of a Benghazi Economic Council, and appointed a 14-member committee to set up it up; Mohammed Eljibali, the administrator of Benghazi Local Council’s Office of Economics and Finance, expected the process to take between a month and a month and a half.

There was some debate about the inclusion of government economic institutions in the council, but Abdelhamed Elarbi, president of Libyan Manufacturers and Food Traders Council, suggested that everyone should be given an opportunity to contribute, and this was agreed.

The main objective of the Benghazi Economic Council is "to contribute to the economic policies and identify sustainable economic development opportunities through open public dialogue and discussion".

Mustafa Darrat, president of the Libyan Business Union, said that rules and regulations in Libya have to be fairer and enforced. “It does not make sense when a small minority owns a majority of the country’s business and wealth.”

(Source: Libya Herald)

(Photo Credit: Dennixo)

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