Tripoli-based Libyan Prime Minister, Abd Alhamid Aldabaiba, in his role as Chairman of the Board of Trustees of the Libyan Investment Authority (LIA), and the Governor of the Central Bank of Libya, a member of the Board of Trustees, Saddek El-Kaber, followed up on the activation of local investments, during their meeting with the Chairman of the Libyan Investment Authority (LIA), Ali Mahmoud. Several members of the LIA Board of Directors and the Director of the Sovereign Sector Oversight Department at the Audit Bureau, Reda Gergab, and the Audit Bureau’s Director of the Service Sector Oversight Department, Abdul Basit Jaboua.
Renewable energy considered a high return sector
The government reported that the LIA chairman gave a presentation showing the LIA’s plan for several proposed domestic investment projects, the most important of which is the renewable energy file, considering that it is a successful investment with high returns.
CBL prefers completion of feasible stalled projects rather than new ones
During the meeting, the CBL Governor stressed that the completion of a number of projects that have been suspended for ten years and implemented by foreign companies is considered a priority after evaluating the assets and investment feasibility.
Need to activate old projects within legal process
The Prime Minister stressed the need to activate domestic investment for important projects, coordinate with all state institutions to ensure the legality of procedures, and involve international consultants as houses of expertise.
The Chairman of the Board of Trustees also stressed the need to continue the strategy of disclosure, transparency and governance launched by the LIA under the supervision of the Board of Trustees.