The Tripoli based Libyan Minister of Economy and Trade, Mohamed Al-Hwej, followed up during a visit last Monday (15 July) on the final preparations for the opening and operation of ‘‘the largest ceramic and porcelain factory in the North Africa’’, the Economy Ministry reported.
The Economy and Trade Ministry reported that the completion rate of the factory had reached 98 percent, which is managed by the Chinese Goodwill Ceramic Company, part of the Wankang Holding Group. The factory will provide 160 job opportunities for Libyans, the Ministry said.
Expansion of Libyan Chinese economic relations
Al-Hwej noted during his visit the expansion of relations between Libya and China in the field of economic cooperation within the framework of the recent visit of Prime Minister Abd Alhamid Aldabaiba to China.
Need to implement Libya’s investment map
He stressed the need to implement the investment map according to the natural resources available in all regions of the Libya, and to distribute investment projects in order to achieve economic diversification under the umbrella of the investment law.
Goodwill factory within Misrata’s Krareem Industrial Zone
It will be recalled, and as reported by Libya Herald in October 2023, Libya’s General Authority for Industrial Zones had signed a usufruct contract with Goodwill.
The contract was for the use of a plot of land of 26 hectares to establish a ceramics and porcelain factory located within the expansion area of the Karareem Industrial Zone, in Misrata.
The factory will be established with a production capacity of 80,000 square meters and will provide 400 job opportunities, which the Industrial Zones Authority said will help invest in effective and productive Libyan cadres.
Localising sustainable industrial development
The Industrial Zones Authority had said this step comes within the framework of localising new industrial projects and a step forward in the framework of sustainable industrial development in Libya.
The Wang Kang Holding Group
It will also be recalled that in March 2023 Misrata Free Zone (MFZ) had revealed that China’s Wang Kang Holding Group announced the establishment of its first company in Libya.
The company had announced the establishment of the “Al Sharq” company as its first investment activity on Libyan soil and chose MFZ as its headquarters.
*A usufruct contract is a limited but real legal right accorded to a person or party that confers the temporary right
Industrial Zones Director visits Misrata site and China’s Goodwill Company project (libyaherald.com)
China’s Wangkang establishes its first Libyan company in Misrata Free Zone (libyaherald.com)
