No Result
View All Result
Saturday, October 11, 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

Era of centralized, state-controlled economy in Libya is over: Government official

bySami Zaptia
November 22, 2021
Reading Time: 2 mins read
A A

By Sami Zaptia.

PIB head Jamal Lamushi (left) said the era of Libya’s state controlled economy is over (Photo: Sami Zaptia).

Tripoli, 22 November 2021:

Jamal Lamushi, the head of Libya’s Privatization and Investment Board (PIB) said the era of centralized control of the economy by the state is over in Libya.

Lamushi was speaking yesterday at the by-invitation-only American Chamber of Commerce in Libya’s (AmCham Libya) event at the Mahari Radisson Blue hotel hosting the first U.S. business delegation to visit Libya in ten years. The delegation included representatives of Bechtel, Caterpillar, GE, Hill and Pratt and Whitney.

He said Libya has all the fundamentals for investment, including its strategic geographic location to sub-Saharan Africa – which he considered the next global growth area.

RELATED POSTS

744 investment projects worth LD 50 billion in food, building materials, renewable energy, health, and education approved

Minister of Economy approves 20 new investment projects to support Libyan private sector

Lamushi also reiterated that Libya has much growth ahead of it as it included development across all sectors. ‘‘We still need everything’’.

Demographics

The head of the PIB also highlighted the strategic importance and dynamics of Libya’s demographics, with 50 to 60 percent of its population classified as youth. All these need to get jobs, get married, buy homes, furnish those homes with beds, fridges, ovens, air conditions etc etc.

Housing a definite growth area

Housing is very important, he stressed, highlighting the fact that under the Qaddafi era the sector was ignored for decades. He said there were plans for major new smart, modern cities outside the main current urban areas. This was a definite area of future growth, he implied.

Universities and digital transformation

Another area Lamushi highlighted to his audience of potential foreign investors was the education sector and universities. He said Libya needed to sign agreements with American universities to help with its digital transformation.

The coronavirus highlighted weaknesses and needs

The head of the PIB said the Coronavirus pandemic and initial shortage of its vaccines highlighted the need to prioritise food security and medicine security.

Renewables are an obvious sector

Lamushi concluded his opening presentation before opening it up to detailed Q and A by saying that Libya intends to invest in the renewable energy sector, which he spent little time on as he considers it an obvious sector for development.

Tags: AmCham LibyafeaturedPIB Privatization and Investment Board

Related Posts

“Beaches and marine life: Between investment and environmental conservation. Towards more sustainable eco-tourism” debate held in Tripoli
Business

“Beaches and marine life: Between investment and environmental conservation. Towards more sustainable eco-tourism” debate held in Tripoli

October 10, 2025
NESDB discusses food security and social protection with World Food Programme
Business

National Social and Economic Development Board organises dialogue on economic policy alignment

October 9, 2025
Minister of Industry meets the Committee for Localisation of Oil Materials and Equipment Industry
Business

Ministry of Industry and Minerals discusses establishment of cement factory with Hungarian company Rotary International Ltd

October 9, 2025
Benghazi Chamber participates in workshop on the blue economy
Business

Benghazi Chamber of Commerce and Libyan Italian Chamber of Commerce discuss cooperation, strengthening economic relations between the two countries

October 9, 2025
LBC leading delegation to Miami for America’s Food and Beverage Show – 18 to 20 September
Business

LBC meets Serbian Ambassador to discuss private sector cooperation and the Libyan Serbian Business Forum to be held in Belgrade at the end of 2025

October 9, 2025
CBL receives results from meetings with international banks
Business

CBL reviews foreign assets totalling US$ 98.8 billion with investment return of US$ 2.2 billion to September

October 8, 2025
Next Post
Libya to double generation capacity by 2030, needs American companies’ help: GECOL head Al-Abdali

Libya to double generation capacity by 2030, needs American companies' help: GECOL head Al-Abdali

Only US$ 13 bn worth of HIB’s housing projects completed out of a total of US$ 40 bn: HIB head Ajaj

Only US$ 13 bn worth of HIB’s housing projects completed out of a total of US$ 40 bn: HIB head Ajaj

ADVERTISEMENT

Top Stories

  • NOC announces force majeure at Zawia port

    Eni North Africa resumes exploratory drilling in offshore area D (mn41) northwest of Libya – after 5-year hiatus

    0 shares
    Share 0 Tweet 0
  • Dollar exchange rate falls to Libyan Dinar in black-market four days after end of deadline for withdrawal of old LD 5 and LD 20 notes

    0 shares
    Share 0 Tweet 0
  • Libya and UAE discuss resumption of flights – Airline delegations to visit Libya soon to discuss flight resumption dates

    0 shares
    Share 0 Tweet 0
  • Bilateral Chamber to hold high-level U.S.-Libya Ministerial Roundtable in Houston on 13 October

    0 shares
    Share 0 Tweet 0
  • Air traffic increasing over Kufra Airport airspace – up to 100 international airliners per day

    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

Two detained in Aman bank Ajdabiya branch for LD 1.063 million fraud to trade in foreign currency

IOM identifies 894,890 migrants in Libya from 45 nationalities in May-July 2025 reporting period – 18 percent up on 2024

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.