The Role of the Private Sector in Economic Development: An Applied Study of Al-Naseem Food Industries Company, Misurata

Abstract

The study aimed to show the impact of (Al-Naseem Company for Food Industries sector) filled with independent variables for the number of employees in the company and the quantities of production produced by the company on economic development, filled with GDP as a dependent variable. The study relied on production data for the period from 2013 -2020 AD and multiple regression was used The study concluded that there is a reciprocal relationship between The independent and dependent variables of the study, and that the variable number of workers contributes to explaining and clarifying its impact on the GDP by 4.2%, and the regression is significant, which reflects positively on economic development. As for the variable of the company’s production, it contributed and explained its impact on the GDP growth rate of 2.3%, and that the regression is significant, which leads to positive Economic development and despite the weak relationship, the study recommends developing strategies and increasing the granting of rewards to the company to raise the productivity of workers, which in turn will raise the company’s production