The NEDB is a special-purpose action-oriented agency set up by the government and given the required powers to design and implement the country's most important economic reform initiatives. It is sponsored and fully supported by the top leadership of the country, has a strong and capable team, and has significant powers and a substantial budget to execute its mandate.
Libya has a great opportunity. It has set itself ambitious targets as part of its Vision for 2019 - the 50th anniversary of the Great Al-Fatah Revolution. Some transformation steps have already been taken – opening the borders to a freer exchange of goods, capital and people has introduced a great deal of energy to the economy. Libya can now build on these changes and take the next steps to increase the prosperity of its citizens.
The NEDB will design and execute Libya's core reform priorities, by reducing red tape and facilitating rapid decision-making and action on critical economic issues. This will improve productivity in the public and the private sectors, help diversify the economy, create employment and provide new economic opportunities for Libyans. In many instances, the NEDB will lead the design of campaigns, then work with relevant ministries in the early stages of implementation, and fully transition the campaigns to the ministries as they develop the capacity to manage them on their own.
Specifically, the mandate of the NEDB will be three-fold:
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To lead priority initiatives, promoting new business formation, human development wealth distribution, international partnerships and cluster development |
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To advise other public entities in implementing their agendas and programmes |
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To follow up overall national reform programmes as laid out for the country. |
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