Washington DC, 6 August 2013:
Earlier this week representatives from the US and Libya came together in Washington DC to discuss the future of Libya’s economic progress. The meeting was called by the organisers of the Foreign Direct Investment (FDI) Libya initiative, Pace Group and Dar al Arab, who have worked for over a year to bring together the international community to invest in Libya’s development projects.
FDI Libya has comprised three launch events, in Tripoli, London and Dubai. There have also been two high-level roundtables to discuss pertinent issues in Libya’s development and growth of international partnerships that took place at the Tripoli Chamber of Commerce in Libya and the House of Lords in London.
The meeting was headlined by a panel consisting of Libyan official, Omar Shakmak, Deputy Minister of Oil & Gas,Mustafa Sanalla, Member of the Exec Board, National Oil Company – Libya, Karim Mezran, Senior Fellow, Rafik Hariri Center for the Middle East, Atlantic Council, Chuck Dittrich – Executive Director, U.S.-Libya Business Association, Hoda Atia Moustafa, Senior Counsel, Legal and Claims Group, MIGA, World Bank Group as well as representatives from the FDI Libya team, Director of Projects Tariq Mohammed from the Pace Group.
The meeting was held as a precursor to the FDI Libya conference that will take place in London on September 17th & 18th 2013.
Deputy Minister Shakmak, briefed the audience on the Oil & Gas Ministry’s current priorities and future direction. He also discussed the need and opportunity for investment throughout Libya.
“The opportunity for Investment in Libya ranges to all major sectors throughout Libyan society whether it be private or public. This means that Libyans and the international community have to work hand in hand to see a prosperous Libya,” said Mr.Shakmak.
“Companies who do decide to invest in Libya will find people who are ready to develop their country, excited to see foreign investment and modernization and a commitment to realize a long awaited New Libya.”
Mr.Shakmak was also invited to meet with officials from the US State Department and the Department of Energy where he extended invitations to the upcoming FDI Libya conference.
The attendees included a vast range of US business leaders and experts from a variety of international multi-sector organisations while discussions covered a wide spectrum of issues surrounding the current political and economic development of the new Libya.
Participants included CEOs, Directors and Managing Partners of some of the world’s most influential companies, including Marathon Oil, Conoco Phillips, Patton Boggs LLP, Citi Group, IMF, C. Davis & Associates and the World Bank. Discussion topics ranged from the current security landscape in Libya, and what that means for investors.
FDI Libya initiative has been assisting the new administration with these goals. The Libyan ministers and government officials, including their US and international counterparts, were greatly appreciative of the work done so far by the FDI Libya team in putting the need for foreign investment into Libya on the agenda and renewed their support for the conference in September.
Libya will be a key platform to promote the development agenda of the new government, in all sectors from infrastructure to energy, from education to healthcare development.
For more information and to register go to: www.fdilibya.com [/restrict]