By Sami Zaptia.
Tripoli, 20 May 2013:
Libya Build opened yesterday to an array of diplomats, Ministers, GNC members and business leaders at it new and expanded location in the Sports City in the Gurji area of Tripoli.
Giving the official opening speech, Economy Minister Mustafa Abufunas welcomed the 715 companies and said that with their presence, Libya “wanted to send a message to the world that it is safe and able to build its economy. It will need a huge effort”, he admitted, “and it is no great secret that its going to take an effort thanks to the legacy of 40 years past”.
The Minister admitted that Libya rated quite low in most international rankings when it came to economic indicators. It rated 88 in infrastructure, 129 in roads, 85 in electricity – which he blamed squarely on the old regime.
Abufunas admitted that a great effort was needed to rebuild Libya and that Libya’s current infrastructure was not adequate enough to support a transit trade economy. The ports and roads were not adequate to support an advanced economy.
However, the Minister insisted that Libya had great financial and human resource potential and that having overcome a dictatorship; it can overcome and surpass any barriers to economic development. [/restrict]
