VISION OF THE NATIONAL OIL CORPORATION TO MAKE THE PRIVATE SECTOR SUPPORTIVE TO THE SPATIAL DEVELOPMENT TO COMMUNITES NEARBY OIL FIELDS

Abstract

Poverty fighting is reflected by the ability to provide employment opportunities, raise wages, and reduce inequality, making it one of the most significant priorities of sustainable development and one of the most important problems facing economic policymakers around the world. In this context, the private sector as the engine of growth plays a significant role through successful small and large businesses that lead to providing permanent job opportunities for the low incomes, which could raise their incomes and lead to the exit from the poverty cycle. In many countries, the private sector is the main provider of services and goods; in addition, the private sector generates about 80% of jobs and funds of all investments, which contributes to rapid economic growth in the long term. The social responsibility for the oil sector in Libya especially the National Oil Corporation is evident here in providing the needs of the local community to secure job opportunities to combat poverty. This study aims to determine the role of the National Oil Corporation in supporting the private sector in Libya through microenterprise programs. The National Oil Corporation targeted (210) job seekers in different engineering fields during the last 2020 to generate craft jobs in Ubari, Oasis and the Oil Crescent regions such as car failure detecting, mobile phone fixing (hardware and software) and water pump maintenance. As a result of that, the percentage of unemployment was reduced by 26%, 24% and 22% in the Oil Crescent, Ubari and Oases areas respectively.