Growth and Development of Nanobiotechnology Applications and Future Prospects

Despite the high cost of nanomaterials and devices, nanotechnology is witnessing great growth and development worldwide, and competition has become great among developed countries to produce and develop this technology by allocating huge budgets and expanding the establishment and support of specialized research centers due to the increasing demand for it. This modern technology is considered the latest technology. What has been achieved by scientific and technological development in recent years, which would work to achieve the economic goals of comprehensive development through employing various economic resources and making optimal use of them. This study aimed to introduce nanotechnology, its importance and applications in various areas of life, and to clarify the extent of the possibility of benefiting from it in achieving the economic goals of comprehensive development. The study reached some results and recommendations, the most important of which is encouraging work on introducing and using nanotechnology as an entry point for comprehensive development in Libyan industry, especially industries that face high competition from imported products, and marketing environmentally friendly products in the local market as a first step through transferring the results of research and academic studies to industrial facilities and various production companies. Establishing, supporting and developing centers for nanotechnology research in Libya and linking them with regional and international organizations to benefit from their expertise in this field, Educating and encouraging the private industrial sector to use nanotechnology because of its great advantages and benefits to the environment and society, Also since oil is considered the primary source of income in Libya, which represents about 95% of the total GDP, if the state focuses on supporting and encouraging investment in the direction of using nanotechnology by exploiting and investing in the resources available to it, there is great potential to benefit from it as a source of income that provides It is an addition to Libya gross domestic product and is considered a source of diversified national income.