No Result
View All Result
Thursday, July 17, 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 discusses return of Turkish companies to complete projects stalled since 2011

bySami Zaptia
June 15, 2020
Reading Time: 2 mins read
A A

By Sami Zaptia.

(Photo: Social Media).

London, 15 June 2020:

Libya discussed the return of Turkish companies to complete their unfinished projects stalled since the 2011 revolution that had toppled the Qaddafi regime.

The subject was one of the issues discussed between Libya’s Minister of Finance, Faraj Bumtari, who is now also Acting Minister of Economy and Industry, and the Turkish Minister of Finance last Friday.

Libya also reported that ‘‘mechanisms to encourage investment and enhance cooperation between the two countries’’ were also discussed.

RELATED POSTS

Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

NOC signs MoU with Turkish oil company TPAO for geological and geophysical study of four marine areas

The revelation of the meeting has two dimensions. Firstly, on the international level, it adds credence to unconfirmed reports that in exchange for its military support against Khalifa Hafter, Turkey had extracted some sort of a secret deal from the internationally recognized Libyan government, whereby it gets priority in receiving debt payments for construction work conducted by Turkish companies.

There are also rumours that Turkish companies may get priority in any new contracts issued. Neither government has made any official announcement on the matter.

It will be recalled that in February 2017 at a meeting in Ankara between Presidency Council head Faiez Serraj and Turkish Prime Minister Binali Yildirim, Libya and Turkey had agreed to form a joint committee that would expedite the return of Turkish companies so they can resume work on stalled projects.

However, to put the meeting and statement into perspective, there have been numerous announcements and attempts over the last 9 years by Libya to get foreign contractors to return to complete their unfinished projects, but the lack of payment of old debts and the lack of security in the country has always prevented this.

Minister Issawi removal from post without explanation – sends rumour mill into overdrive

On a domestic level, the announcement of the meeting is the first official confirmation of the appointment of Bumtari as the new Acting Economy Minister – as well as keeping his post as Finance Minister. His appointment was only mentioned in passing as part of the Turkish meeting announcement.

The appointment has been the worse kept secret in Libya. Serraj’s government has never officially posted the appointment – nor has it provided any reasons for Issawi’s removal. This information vacuum has sent Libya’s rumour mill into overdrive. The unexplained sacking has been interpreted as behind the scenes manoeuvrings for power and positions.

 

 

https://www.libyaherald.com/2017/02/08/libya-and-turkey-set-up-committee-to-oversee-return-of-turkish-companies/

 

https://www.libyaherald.com/2013/02/17/libya-turkey-20-billion-payments-deal-seems-nearer/

https://www.libyaherald.com/2018/03/30/chinese-contracts-to-be-reviewed-by-new-pc-committee/

 

https://www.libyaherald.com/2018/03/06/libyas-stalled-us-110-bn-22000-contract-projects-to-be-reviewed-again/

 

https://www.libyaherald.com/2012/02/26/turkey-warns-al-kib-on-security/

 

 

Tags: Acting Minister of Finance Faraj BumtariAli Issawi Essawi minister of economy 2018Faraj Bumatri Bumtari Minister of Financefeaturedstalled projectsTurkey Turkish

Related Posts

Libyan Ports fees increased by 235 percent to reflect dinar devaluation
Business

Libyan Ports Company signs contract in Germany for 154-ton Liebherr container crane for Khoms Port

July 17, 2025
CBL receives results from meetings with international banks
Business

CBL Governor Issa pushes for improved e-payment services despite increase of points of sale by 92% and e-transactions by 75% since 2024

July 16, 2025
CBL temporarily suspends chairman and directors of ATIB
Business

Former ATIB bank Chairman Naaman Elbouri recalls his unjust kidnapping and detention – calls on CBL Governor to implement law against those unjustly accused

July 16, 2025
Twenty-three dead and 106 injured in Tripoli’s security forces clashes
Business

After signing agreement in April with Georgetown University, the first emergency response training programme is launched in DC: EMSC

July 16, 2025
CBL receives results from meetings with international banks
Business

CBL orders government entities from 1 August to receive payment for services from citizens electronically

July 16, 2025
UK Minister visits Tripoli – agreement signed to improve quality of English teaching at Libyan educational establishments
Business

UK Minister visits Tripoli – agreement signed to improve quality of English teaching at Libyan educational establishments

July 15, 2025
Next Post
Bumtari indirectly confirmed as new Acting Economy Minister – mystery still surrounds Issawi’s sacking

Bumtari indirectly confirmed as new Acting Economy Minister - mystery still surrounds Issawi's sacking

LIA wins another important court case towards protecting its assets

ADVERTISEMENT

Top Stories

  • Libyan Railways Implementation Authority invites International Federation of Railways to participate in November workshop

    China to resume implementation of its stalled railways projects in Libya

    0 shares
    Share 0 Tweet 0
  • Libya and Nigeria discuss gas projects, extension of export pipelines to Europe and high-level delegation visit to Tripoli

    0 shares
    Share 0 Tweet 0
  • Attorney General provides update on investigation of incidents resulting from Tripoli 2025 armed clashes and demonstrations

    0 shares
    Share 0 Tweet 0
  • Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

    0 shares
    Share 0 Tweet 0
  • Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions

    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

Libyan Ports Company signs contract in Germany for 154-ton Liebherr container crane for Khoms Port

ACA suspends the Executive Director, the Chairman and 6 Board members of GNMTC

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.