No Result
View All Result
Saturday, July 5, 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

Investors told those who stick with Libya will reap rewards

bythomwestcott
June 20, 2013
Reading Time: 3 mins read
A A

By Tom Westcott

London, 20 June 2013:

This week’sLondon  roundtable in the lead up to the FDI Libya 2013 conference in  the UK . . .[restrict]capital this September showed that the much-anticipated event is attracting international interest.

The FDI Libya Focus 2013: Roundtable Conference on the Future of Libya’s Economic Progress, attracted senior Libyan and British government officials and diplomats from the Arab League, the UAE, Egypt and Spain. Top companies, including Shell, Libya Holdings, Gazprom and Deloitte were represented and businessmen flew in from Russia, Dubai and around the EU, as well as Libya, to attend the roundtable.

FDI Libya 2013 was originally due to take place in May, but was postponed until September at the request of Libya’s Economy Ministry.

RELATED POSTS

Top law firm joins new British Libyan Business Association

An academy with a difference in Tripoli

Introducing the conference, co-chairman of FDI Libya, Michael Thomas, said that with the imminent government reshuffle, brought about by the passing of the Political Isolation Law, the organisers felt it was important to let people know that, although things are moving slowly in Libya, they are going well.

Member of the General National Congress (GNC), Mohammed Ali Abdallah, said that in Congress there was: “A strong commitment to the reshuffle because decisions that should have been made, were not.” He said that although new Libya’s journey would be long and rough, he felt that the country could become a pillar and role model in the region.

He pointed out that partners who were prepared to travel this journey with Libya would be the ones who would reap the most rewards. “Those who were with us along the way are the ones we’ll look to,” Abdallah said.

The British Prime Minister’s trade envoy, Lord Jonathan Marland, urged those present to think of the rebuilding processes the country has to go through, saying, “we need to be patient.” He said that British businesses had the advantage of being: “At the top of the shopping list for Libya.”

The country, Marland said, “has a huge amount of opportunities for British companies,” pointing out that UK Trade and Investment (UKTI) had sent 30-40 delegations to Libya since the revolution.

UKTI representative Nick Archer said that UK companies were hankering after an unfolding development plan and were eager to see confidence on the part of the Libyan government to start signing off on projects and giving out contracts. Nevertheless, he said, the UK has an “undiminished appetite for doing business with the New Libya, to the mutual benefit” of both countries.

With much of the country lacking infrastructure and in need of reconstruction, opportunities for foreign direct investment are likely to be considerable and varied.

Libyan Deputy Oil and Gas Minister, Omar El Shakmak, said that there would be opportunities for development in the country’s hydrocarbon sector. Joint ventures with government companies could be considered, he said, and downstream activities will be open for investment. Technical services, in particular, Shakmak said, would be open widely for both Libyan and international contractors.

Abdallah said that: “Anything that can help improve the life of Libyan citizens will be given priority.” This, he said, will include the infrastructure needed for the 2017 Africa Cup of Champions, which will be held in Libya. He also said that the country’s current business laws were being reformed and, by the end of September, changes would be adopted “to encourage investment in Libya and encourage the private sector.”

September’s two-day conference will look at a range of sectors and how and where foreign direct investment could have a role to play. The first day will look at economic diversification and opportunities for investment, Libya’s energy sector, and major infrastructure investment. The second day will include sessions on the changing face of construction, education and healthcare reform and transformation.

FDI Libya 2013 will take place in London from 17 to 18 September.

For more information see: www.fdilibya.com or email: [email protected] [/restrict]

Tags: FDI Libya 2013LibyaUK

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

Con.I.Cos completes Nageza Bridge repairs four months ahead of schedule

Libyan Airlines wants more staff in plans for growth

ADVERTISEMENT

Top Stories

  • CBL goes public at last about the counterfeit LD 50 notes – notes to be withdrawn until end of August

    CBL reveals discovery of LD 3.5 billion in counterfeit 50-dinar notes printed in Russia – PM calls on Attorney General to open investigation

    0 shares
    Share 0 Tweet 0
  • Op-Ed: Reputational Damage Is Worse Than Losing Money

    0 shares
    Share 0 Tweet 0
  • Three Libyan companies win awards in Athens International Olive Oil Competition ‎

    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
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.