The Libyan Business Council (LBC) hosted at its Tripoli headquarters today the first meeting of the technical committee responsible for preparing the organisational structure of the Libya Industrial Development Fund.
The meeting, the LBC announced, comes as a practical step in the LBC’s efforts to launch the first private sector-led industrial financing fund in Libya – an ambitious project that aims to revive industrial investment and provide innovative financing tools that contribute to moving the economy and diversifying sources of national income.
With the participation of a wide range of participants from within and outside the LBC, and from across Libya, the attendees also discussed opportunities for integration between the Fund and the existing industrial zones and ways to enhance partnership between the public and private sectors to achieve sustainable results and establish the Fund according to professional standards in line with international best practices. This, with a focus on attracting local and foreign capital, and creating a stable investment environment that encourages entrepreneurs and industrial investors.
it will be recalled that last month, the LBC authorised the establishment of the fund and the formation of a technical committee of experts in the fields of economy, banking, financial markets and law to lay the administrative, legal and organisational foundations of the fund to embody a new national vision to enable productive projects, stimulate spatial development and revive the local economy under the effective leadership of the private sector.
The committee is scheduled to continue its work in the coming weeks in preparation for finalising the full structure of the fund, in preparation for the official launch in coordination with the relevant authorities.
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