The Tripoli based Libyan Ministry of Economy and Trade launched a workshop at its Tripoli headquarters yesterday, in the presence of its Minister Mohamed Hwej, on the General Framework of Green Investment in Libya.
During the workshop, which included Expertise France, the final Framework for Green Investment in Libya was presented, which plays a pivotal role in promoting economic diversification and supporting the private sector, thus contributing to achieving sustainable development in Libya. The Ministry said this effort reflects its commitment to advancing the national economy towards new horizons in economic diversification to achieve sustainable development.
Need to take executive steps in 2025
Minister of Economy and Trade, Mohamed Hwej, stressed the importance of taking executive steps in 2025 to support the Green Economy. He underlined that green investment is one of the main pillars of sustainable development in Libya. He said the Ministry of Economy and Trade seeks to achieve a balance between economic growth and environmental protection. This, through environmentally friendly investments considering the global transformations towards the green economy.
Libya needs a clear strategic framework to attract green investments
The Minister noted that Libya needs a clear strategic framework to attract green investments, in a way that contributes to diversifying the economy, supporting environmental sustainability and protecting natural resources. and create new job opportunities.
Need to update Libyan legislation and laws
The attendees recommended the need to update legislation and laws to ensure a more stable and attractive economic environment for investment, giving priority to the local and foreign private sector as a key driver of economic growth.
Need to activate bank financing
They also stressed the importance of activating bank financing tools to support investment projects, as well as enhancing integration between national and foreign expertise, thus contributing to the transfer of knowledge and the development of productive sectors.
Need an integrated economic vision
The attendees stressed the need to take into account the economic conditions that Libya is going through when developing economic policies. This is, to ensure reaching an integrated economic vision in line with the requirements of the current stage and contribute to achieving sustainable development that supports economic stability.
