The first official meeting for coordination between Libya’s Privatization and Investment Board (PIB) and the Cyprus Investment Promotion Agency was held in Nicosia, Cyprus last Monday.
The meeting was held at the Libyan embassy in Nicosia in the presence of the Ambassador of Libya in Cyprus. It included representatives of Libya’s General Authority for Exhibitions, the (Benghazi) Elmreisa Free Zone (EFZ), and the Cyprus Chamber of Commerce.
During the meeting, the activities of the PIB in revitalizing the investment sector in various fields and facilities that enhance the activity of the local and foreign private sector in accordance with Law No. (9) to encourage investment, were reviewed.
Libyan-Cypriot Investment Forum to be held October
The mechanism for organizing the Libyan-Cypriot Investment Forum in October of this year was discussed with the participation of business owners and investors to present investment opportunities. The holding of joint exhibitions in coordination with the General Exhibitions Authority and the Libyan Export Promotion Centre (LEPC) were also examined.
Finally, the conclusion of memorandums of understanding on the sidelines of the October forum between the institutions specialized in the economic and investment sectors in both countries were considered.
During the meeting, an invitation was extended to the Cyprus Investment Promotion Agency to visit the PIB in Libya.