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By Tom Westcott.
London, 6 March 2013:
Businessmen and women with an interest in Libya or trade specialisms in the water industry met . . .[restrict]in London yesterday to discuss Libya’s waste, water, and wastewater infrastructure, and potential opportunities for future collaboration between Britain and Libya.
Water and waste are two critical areas for Libya and, according to Lila Thompson, the international director of British Water, some 100 new sewage plants and ten new water treatment works are planned for the country. Existing sewage systems, pipes and water treatment plants all suffered neglect under the old regime and many are in urgent need of repair or replacement.
Organised by British Water, and supported by the UK government’s Trade and Investment (UKT&I) and the Libyan British Business Council (LBBC), the day also explored more general aspects of doing business in Libya.
Angus Jackson, Libya market specialist for UKTI, gave an economic and political overview of the country and pointed out the British businesses are highly-regarded in Libya. He said that Libya expects to spend some $200 billion dollars on reconstruction and regeneration in the next ten years, and that this would create many business opportunities. “It is not an easy place commercially to do business,” Jackson said, “but it is improving.”
The director of Trade Allianz, Ravi Bhat, echoed Jackson, saying that “British standards are respected in Libya.” He offered practical advice to British businesses eyeing the Libyan market, and stressed the importance of these having a presence in the country if they are really to succeed.
More practical advice came from Adrian Creed, a partner of Clyde and Co, the only international law firm currently operating in Libya. Creed talked about the legal aspects of doing business in the country and said that, at the moment, Libya was “a once in a 100 year opportunity.”
Creed said that Libya also needed to realise that businessmen were looking at opportunities in a range of countries. The ten shareholder rule, he said was “absolute madness,” because it made Libya look “too difficult” and was off-putting to potential businesses. Despite such problems, however, Creed said that Libya feels like a tremendous opportunity. He added that the media portrayal of the country was wrong and said “Tripoli feels pretty tranquil.”
The day was a preliminary event in the lead-up to the British Water Trade Visit to Tripoli, planned for 20 – 23 April. British Water said: “Significant opportunities exist for UK companies to partner with Libyan and international companies to refurbish, maintain and construct water and wastewater infrastructure, including pumping stations and desalination plants.”
The three-day visit will include sessions with Libya’s Ministry of Water Resources and the Ministry of Housing and Utilities. [/restrict]
