By Sami Zaptia.
London, 4 April 2021:
Libya’s new government seeks to activate and develop Benghazi’s Elmreisa Free Zone (EFZ). The news was revealed yesterday during a meeting at the Economy Ministry headed by Mohamed Hwej, the Minister of Economy and trade and the EFZ administration.
During the meeting, the attendees were briefed by a presentation of the EFZ that included a detailed plan of the area and geographical distribution of the industrial and service cities, operational stations, the free zone port, and the management plan to activate the zone in partnership with developers in the public and private sectors.
The Minister praised the efforts of the EFZ administration in designing the zone, administrative organization and the plan put in place to activate the free zone, stressing the support of his government for these efforts and his Ministry’s keenness to activate all free zones in the country to achieve the goals established for them.
The Minister stressed the need to start immediately to activate the region in partnership with local investors and bring in foreign investors to create competition, support the national industry, achieve economic diversification, and provide great job opportunities with the aim of attracting youth.
He indicated that the actual wealth of Libya lies in its location and this wealth must be used to support local production and raise the value of non-oil exports.
It will be recalled that he 1,200-hectare EFZ project, designed by British company Mott Macdonald, is [restrict paid=”true”] divided into eleven sectors with eight sector-specific investment zones.
The eight investment sectors are:
- Transformative industry
- Smart city
The remaining three sectors are the EFZ administration site, power and water utilities and the sewage treatment site.