Economy
Serving the role of Libya's commercial hub, Misrata is notably clean and construction is well-organized. Its citizens are largely viewed by other Libyans as business oriented. The city's steel mill industry (which is dominated by the government-owned Libyan Iron and Steel Company) is one its principal income producers and sources of employment. Due to the 1970s-80s renovation of Misrata's marina to better supply the industrial plants with raw material, the industry has been able to expand and the steel mill authorities hold considerable influence in the city. Al-Naseem Dairy, one of the largest private companies in Libya, is also located in Misrata and employs around 750 workers.
A historic aspect of the local economy is the cloth and textile industry. Situated near the city's central square are souks ("open-air markets") where, usually three times a week, merchants continue to sell luxury carpets, furniture cloth and traditional clothing, including abayas (cloaks worn by males for celebratory occasions.)
Most major businesses, shops and social centers are located on Tripoli Street, Misrata's main thoroughfare. During the Siege of Misrata, most of the buildings housing these assets were destroyed. However, several small businesses are beginning to rebuild and reopen. Nonetheless, recovery remains relatively slow partially due to the shortage of banknotes since Libyan banks are only allowing citizens to withdraw or borrow limited amounts of funds. Once the Libyan Central Bank receives most of the assets that had been internationally frozen during the civil war, it is probable that local banks would ease these restrictions.
The city has a great potential for expansion since it attracts a lot of internal immigration and is surrounded by uninhabited flat land with no obstacles. There is a port in the neighbouring town of Qasr Ahmad. Misrata the seat of many national companies such as the Libyan Ports Company, Libyan Iron and Steel Company, the Libyan publishing, distribution and Advertising Company. Besides that it has branches of public and private sector banks and one locally and privately owned bank.
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