The Privatisation and Investment Board (PIB) reported that it had participated in the ‘‘Forum for the Localisation of the Oil Industry in Libya’’, organized by the Libyan Council for Oil, Gas and Renewable Energies (LCOGRE), on 25 and 26 October in Tripoli, with the participation of several government agencies and representatives of the private sector.

The forum aims to support local manufacturing, enhance investment opportunities in the oil and gas sector, transfer technology and expertise, and qualify national cadres, in addition to encouraging Libyan companies to manufacture and maintain oil equipment, in a way that contributes to diversifying the sources of the national economy, creating new job opportunities, and promoting sustainable development paths.

The PIB said its participation comes within the framework of supporting efforts aimed at strengthening the investment environment in Libya and opening wider horizons for the private sector to contribute to the localization of oil industries, in a way that supports the national economy and enhances the benefit of local capabilities and capabilities.

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