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Misrata Free Zone (MFZ) announced today that it has equipped more than 565 hectares ready for investors at its first site. The investment area provides investors with a suitable work environment in a technical infrastructure with integrated services, ready for various commercial, industrial, and service activities.
Speaking exclusively to Libya Herald, Aladdin Baba, Director of the MFZ Media Office, said that the plan set by the MFZ’s board of directors required expediting the infrastructure work, including: extending a road network, a water system for industrial and human use, electricity networks, communications and the internet, and the preparation of an integrated data hosting centre. The work also included carrying out the maintenance of the heavy transport road leading to the port and the free zone and providing it with solar lighting poles.
MFZ to help diversification and transit trade
Baba said that the MFZ was the first economic free zone established on Libyan soil in accordance with Law No. (9) of 2000 for free zones and transit trade. Its aim is to help diversify Libya’s sources of income, raise the level of performance of the local economy, and opening job and training opportunities through creating an attractive investment environment for diversified economic activities and transit trade. These can be achieved through optimal utilization of the available local capabilities and resources, on top of which is the MFZ’s distinguished geographical location and the seaport.
MFZ obtained international classification
Baba highlighted the adoption by MFZ of the security plan for its port (PFSP) and obtaining the statement of compliance with the port facility (DOC) in accordance with the requirements of the international code (ISPS-Code). MFZ port is the first commercial port in Libya to obtain the document of compliance with the port facility (DOC) to be among the world’s classified ports.
Classification attracts new shipping lines, reduces insurance premiums
This document, he explained, is one of the most important certificates given to ports around the world after a visit to the port by the relevant authorities to review and study its evaluation and security plans. This helps in increasing the classification of MFZ’s port globally, attracting new shipping lines, in addition to reducing the value of ship insurance as the port complies with the requirements of the international code.
Invites investors to MFZ
Baba called on investors at home and abroad to take advantage of the exemptions related to many sovereign fees within the free zone by setting up their various industrial and service projects within the spaces equipped with the latest equipment. This, as well as benefiting from the distinguished services provided by specialized skilled departments and the highest quality standards. Baba said MFZ is a great opportunity for investors in Libya to implement their successful projects.
