Hommam Al Nassim 
A report issued by the United Nations Development Program emphasized the urgent need for economic diversification in Libya, a country that has long relied heavily on oil as its primary source of income.
The report explained that heavy reliance on the oil sector poses major challenges that threaten the state’s financial sustainability and hinder sustainable economic development.
He stressed the need to adopt balanced economic policies that encourage increasing production efficiency and strengthening the private sector, including the need to undertake comprehensive structural reforms aimed at raising production capacity in the long term.
The report pointed out that the program’s commitment to supporting Libya is consistent with the United Nations Sustainable Development Goals for the period 2023-2025, and highlights key initiatives such as supporting digital infrastructure, improving credit information systems, and developing the capabilities of small and medium enterprises with a special focus on supporting entrepreneurship among… Women and youth.
It also included plans to strengthen the infrastructure for technical and vocational education and improve labor market policies to combat unemployment and improve the skills required in the market, pointing to the great importance of training and vocational development as key factors in supporting sustainable economic growth and achieving effective economic diversification.
The United Nations Development Program is carrying out a number of programs in Libya, including the “Raedat” program, which aims to empower young Libyan women through training, guidance and opportunities to participate in decision-making, the Libya Stabilization Fund, which supports projects to restore infrastructure, provide basic services, and promote local economic development, and the Election Support, which provides technical and financial support to conduct free and fair elections, and the Internally Displaced Persons Support Project to provide humanitarian aid and basic services to the displaced.
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