Incentivizing Private Sector Employment
Transforming Libya into a diversified economy will require increased private sector employment participation. However, the labor market remains highly segmented with the majority of Libyans employed in the public sector. Socio-cultural factors and the perception of more favorable conditions of employment offered by the public sector have led to reluctance in joining the private sector. Preferences for public sector jobs coupled with limited comparable opportunities in the private sector have precipitated a crisis in which the government is unable to create suitable employment opportunities to absorb our youthful population entering the labor market. Ihya Libya Vision 2030 envisions increased and diversified participation of Libyans in the labor market through investment in education and training, incentives for private companies to hire Libyans, and measures to encourage more women to enter the labor force. Initiatives that reduce barriers to entrepreneurship will also encourage Libyans to invest in establishing their own businesses.
Transformation Projects for Incentivizing Private Sector Employment