Mohamed Hwej, the Minister of Economy and Trade in the Tripoli-based Libyan government, met on Monday a delegation of owners of Chinese companies operating in Libya. The two sides discussed work progress in the approved projects for Chinese companies. They also discussed ways to enhance the presence of Chinese companies inside Libya to implement new investment projects, in partnership with Libyan business owners and companies, according to Libya’s economic development plan.
Speaking exclusively to Libya Herald about the meeting, the official spokesman for the Ministry of Economy and Trade, Fawzi Wadi, said the meeting came within the main role played by the Ministry of Economy and Trade in supporting and encouraging international companies to be present in Libya to implement investment projects and to contribute to development, infrastructure and reconstruction projects.
Libya keen to strengthen trade relations with China
Wadi referred to the Minister of Economy’s keenness to strengthen trade relations with China and to provide facilities for Chinese companies to implement multi-sector investment projects with the local private sector. This is especially since Chinese companies are pioneers and have a prominent role in the economic and investment sectors at the global level, especially with regard to technology, modern artificial intelligence and knowledge transfer.
Special Economic Zones
The Official Spokesman pointed out that the Ministry of Economy wishes to implement a development vision through the establishment of Special Economic Zones and the localization of many industries based on natural resources available in all Libyan regions. It also wants to develop ports, airports and roads to activate transit trade towards sub-Saharan Africa, which contributes to achieving spatial development, increasing Libya’s GDP, diversifying sources of income, and providing job opportunities for local and foreign workers wishing to work in Libya in accordance with the laws in force in Libya.
Chinese companies desire a return to resume their stalled projects
Wadi noted the desire of Chinese companies during the meeting to return to Libya to resume their stalled projects, implement infrastructure development projects, and establish investment projects in the fields of energy, oil, metals industry, and building materials, in addition to participating in the implementation of the Special Economic Zones project.
Finally, he pointed out that next year a Chinese-Libyan ceramics factory will open in Misrata.