Reducing importing and regulation of trade balance, provision of domestic production for consumers and increasing total domestic production.
Positive consequences can occur for the domestic economy through nationalizing domestic industry, deepening it and involving more of the local components, certainly such as providing products for the internal market, which will lower reliance on imported products and hence regulating the trade balance.
The act of affirming and further establishment of domestic manufacture is one of the tools to increase productivity and thereafter total domestic produce, creating new job opportunities , manufacturing products with a greater amount of domestic material, as this is considered one of the biggest challenges out there for all countries especially the developing ones.
The nationalization and encouragement of industries will have its own direct impacts on providing the country’s needs of all types of production, particularly during global crisis such as COVID-19 crisis,,, etc.
Libya and the region in general is currently experiencing an intensive orientation towards fortifying domestic industry and encouraging it in a way which focuses more on domestic production and the limitation of importing . Countries aim to work on the file of affirming and deepening the domestic constituents and the file of replacing of imports with domestic produce, which means creating new investment and job opportunities and increasing domestic produce.
Almarai Alkhisba has a limitless aspiration for the productive and industrial sector to enhance the product produced in its own factories to provide the consumer with high quality. In addition, the competition has always been of international products of the highest quality, therefore, the company is at an advanced position in relation to quality and control by adopting evident science-based course of action in the process of manufacturing and operating. Nationalization of domestic industry and the act of increasing reliance on domestic production has a substantial impact on the regulation of random importing, replacing imports and imported products with local and domestic produce. By applying this plan , any country would experience an increase in the domestic industrial capabilities, the fulfillment of its needs of raw material and requirements for production, and opening up the way for reducing random importing and regulating the system of importing in all and lowering imports.