Economy
Bayda is one of the major cities in eastern Libya, and one of its major economic centers. It is also the industrial and commercial center in Libya. The major manufactured goods include food products, fertilizers and agricultural products, food processing, and imported goods, and produce from villages near the city in the Akhdar region, including cereals, dates, olives, wool, and meat. Bayda also has one of the most important markets of vegetables and fruits in Libya, because of the naturally fertile lands.
Financing is also important, and the city's National Commercial Bank is the second largest bank in Libya. It also has a number of other large banks, including the Office of the Central Bank of Libya in the city center. There is also the Agricultural Research Centre and the main animal and large national firms, such as Brega Oil Marketing Company and Gulf Oil, are important to the city's economy. Coupled with an increase in consumer prices, is an increase in the importance of the retail sector in the economy of the city. In recent years, international companies such as United Colors of Benetton, H & M, and Nike, have opened in Bayda.
Read more about this topic: Bayda, Libya
Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)