Evaluating Free Zone Industrial Plant Proposals Using a Combined Full Consistency Method-Grey-CoCoSo Model
Journal Title: Journal of Industrial Intelligence - Year 2023, Vol 1, Issue 2
Abstract
Libya's strategic position at the crossroads of Europe and Africa offers access to abundant raw materials, labor, and extensive land for establishing free trade zones. The primary objective of this research is to determine the key advantages and opportunities that Libya could potentially leverage as a transit trade hub in the Mediterranean region through the establishment of free trade zones. This study investigates the extent to which Libya facilitates the expansion of commerce between Europe and Africa via initiatives related to free trade zones. Six criteria were employed in the present research, including economic, social, financial, environmental, quality, and demand factors. A panel of experts evaluated these criteria. The Full Consistency Method (FUCOM) was utilized to derive the criteria weights, with the economic criterion identified as the most significant. The Grey-CoCoSo (Combined Compromise Solution) methodology was applied to rank the industries eligible for investment within Libya's free zones. According to the findings, the food sector holds the highest importance in relation to investment.
Authors and Affiliations
Ibrahim Badi, Željko Stević, Mouhamed Bayane Bouraima
Keywords
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- EP ID EP732421
- DOI 10.56578/jii010203
- Views 53
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