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:
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“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)