No Result
View All Result
Monday, July 7, 2025
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • Advertising
  • Contact
LibyaHerald
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

‘Libya seeking development in all sectors’ – Abushagur

bySami Zaptia
April 26, 2012
Reading Time: 2 mins read
A A

Libya Herald exclusive

Tripoli, 22 April:

Deputy Prime Minister Mustafa Abushagur in welcoming a US business delegation at the Prime Minister’s office this . . .[restrict]week made it clear that Libya was to embark on a major development programme across a wide range of sectors.

The multi-sector business delegation of about 20 leading US companies were keen to understand which areas Libya was planning to develop and where could they expect to be able to seek some business.

Libya needs development in all areas

RELATED POSTS

Tripoli Libyan government delegation holds high level meetings in DC, including US Treasury and Commerce Departments, Department of State, US companies and business associations

Italian exports to Libya up by €2.27 billion or 34.2 percent in 2024

We are seeking ‘development in every aspect of Libyan life including education and training, agriculture, military, security, health, transport, capability-building etc.’ explained the Deputy Prime Minister.

‘The cranes you see stationery need to start moving. That’s where you come in. We need a wide group of sectors and companies to participate together with Libyans to rebuild Libya.’ He confirmed to the listening delegation.

Priority projects?

International companies keen to do business across the world as well as in Libya during tough economic conditions, were eager to find out which sectors Libya was most likely to reactivate first.

Deputy Prime Minister Abushagur confirmed the universally accepted viewpoint that Libya had fallen way behind the rest of the world and its immediate peers such as the UAE in many sectors.

‘We need to get all the projects to start again’, he confirmed. ‘We are a transitional government, but we have a set of priorities that we need to meet in the meantime such as basic needs. We need to rebuild schools in months. The health system needs a lot to be done in months. The oil industry needs much maintenance to continue its productivity ‘, Abushagur explained.

Safety and security means jobs

Next the Deputy Prime Minister moved on to the important topic of safety and security and linked it to economics and business.

‘There are certain priorities and security is a top priority’, he emphasized. ‘Libya is a much safer place than you thought’, he proposed to the gathered business delegation.

‘A lot has been accomplished over the last 6 months and there is a lot to do. There are still challenges from both within and without. That is expected. There are many Libyans who have Kalashnikovs and they have got attached to them. They have no jobs to go to therefore we need to create jobs for them ’, he said, clarifiying his linkage between business and security.

Private sector and the role of government

The Deputy Prime Minister then moved on to the topic of ‘doing business in Libya’.

‘We also need to change how business is done. We need to revamp the regulatory system so you can do business well in Libya. We need business to be done in a competitive, transparent manner and we need to help and encourage and allow the private sector to grow’.

Referring to the previous regime’s stifling bureaucracy and centralization, he confirmed: ‘We need to get away from the government controlling everything centrally. We need a real strong business sector, not just a façade of a private sector’.

The Deputy Prime Minister was nevertheless realistic about the task that will face his and any succeeding Libyan governments. ‘It will take time’, he stressed, nevertheless he confirmed his government’s desire for US companies to do business in Libya. ‘We would like you to build partnerships with Libyan businesses’, he concluded. [/restrict]

Tags: BusinessdelegationInvestmentLibyaLocal GovernmentTradeUS

Related Posts

CBL receives results from meetings with international banks
Business

A 247,000-bpd oil production increase would achieve US$ 6 billion annually to enhance ability to meet FX demand, maintain strength of LD and achieve economic balance: CBL ‎

July 2, 2025
Libya Herald exclusive: Responding to the prime minister’s call yesterday to the private sector and banks to do more, leading businessman Husni Bey responds
Business

Op-Ed: Reputational Damage Is Worse Than Losing Money

July 2, 2025
Benghazi port receives 398 containers of mixed goods, 25,000 tons of wheat, 28,500 tons of barley and 6,000 tons of cement
Business

All imports into Libya must be paid for through official bank transactions

July 2, 2025
World Bank holds off on Tunisian $50m power plant fund; implications for Libya
Business

Libya’s economy showed recovery in 2024, remained resilient despite reliance on hydrocarbons and ongoing political and security instability: World Bank

July 1, 2025
CBL receives results from meetings with international banks
Business

CBL demands imports are conducted through official banking instruments and the elimination of the FX black market

July 1, 2025
Harouge Oil reaches record 45,000 bpd production – to increase it by 25,000 bpd
Business

Harouge Oil Operations Company replaces Al-Ghani field pipeline

July 1, 2025
Next Post

Libya, Egypt and Tunisia - a North African Common Market ?

Russia insists Libya wants more of its arms

Russia insists Libya wants more of its arms

ADVERTISEMENT

Top Stories

  • Libya Herald exclusive: Responding to the prime minister’s call yesterday to the private sector and banks to do more, leading businessman Husni Bey responds

    Op-Ed: Reputational Damage Is Worse Than Losing Money

    0 shares
    Share 0 Tweet 0
  • CBL demands imports are conducted through official banking instruments and the elimination of the FX black market

    0 shares
    Share 0 Tweet 0
  • All imports into Libya must be paid for through official bank transactions

    0 shares
    Share 0 Tweet 0
  • Libya’s economy showed recovery in 2024, remained resilient despite reliance on hydrocarbons and ongoing political and security instability: World Bank

    0 shares
    Share 0 Tweet 0
  • A 247,000-bpd oil production increase would achieve US$ 6 billion annually to enhance ability to meet FX demand, maintain strength of LD and achieve economic balance: CBL ‎

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

A 247,000-bpd oil production increase would achieve US$ 6 billion annually to enhance ability to meet FX demand, maintain strength of LD and achieve economic balance: CBL ‎

Op-Ed: Reputational Damage Is Worse Than Losing Money

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Fill the forms below to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Login
    • Sign Up
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.