On Thursday, Libya’s Minister of Economy and Trade, Mohamed Al-Hwaij, announced that the country’s main economic goal for 2025 is to achieve real and measurable diversification beyond oil.
He confirmed that the government is working to strengthen non-oil sectors, empower the private sector, increase exports, and build a more productive, resilient economy.
Al-Hwaij held a strategic meeting in Tripoli with the heads of several major economic institutions to follow up on the national economic diversification plan.
Attendees included Abdulaziz Al-Shawesh, Chairman of the General Authority for Investment Promotion and Privatization Affairs; Essam Al-Aoul, Chairman of the General Authority for Exhibitions and Conferences; Mohamed Al-Hangari, Director General of the Export Development Center; and key officials from the Ministry’s legal, financial, and administrative offices.
The minister reviewed progress on implementing the 2025 diversification strategy, which focuses on enhancing Libya’s investment environment, increasing non-oil exports, and expanding private sector participation in economic growth.
He stressed that reducing reliance on oil is no longer optional, and that a sustainable future depends on broadening income sources and integrating Libya more deeply into global trade and development frameworks.
Al-Hwaij emphasized that all relevant institutions must work in coordination, share responsibilities, and execute projects on time. The ultimate goal, he said, is to stimulate national growth by more than 8% and support a healthy, competitive economy that creates opportunities for all Libyans.
The meeting also addressed final preparations for the 51st Tripoli International Fair, set to take place from April 22 to 28, 2025. Organizers shared updates on international participation and technical readiness.
Al-Hwaij stressed that the fair is a vital platform to showcase Libya’s economic potential and must meet the highest organizational standards. He called on all teams to ensure a successful event that highlights investment opportunities and promotes Libya as an emerging business destination.
