The Ministry of Economy and Trade announced last Thursday (16 April) that its Minister, Suhail Abushiha, had approved the decisions for the formation of four foreign and joint venture (JV) companies to support the investment climate in several vital sectors.
The Ministry said this comes within the framework of its keenness to support the investment climate and stimulate the entry of foreign and joint ventures into the Libyan market.
This measure, the Ministry added, comes as part of the Ministry’s efforts to enhance the business environment, raise the level of confidence in the national economy, and facilitate procedures for investors, in a way that contributes to supporting investments and revitalizing various economic sectors.
The approved four companies were a Tunisian and Italian companies that were opening a new branch in Libya, and a Russian and Chinese company that were extending their registration.
Follow up on US State Department’s Investment Climate Report on Libya
It will be recalled that a meeting of the Tripoli Libyan government team tasked with following up on the US State Department’s Investment Climate Report was held in Tripoli last Monday (13 April), pursuant to Prime Minister’s Resolution No. (593) of 2025.
The meeting was attended by the team leader and Minister of Economy and Trade, Suhail Aboushiha; the head of the Executive Team for PM’s Initiatives and Strategic Projects, Mustafa Al-Manaa; the Minister of Oil and Gas, Khalifa Abdel-Sadig; the Chairman of the Libyan Investment Authority, Ali Mahmoud; the Executive Director of the Privatization and Investment Board (PIB), Abdullah Al-Tabouli; and several other members of the national team.
The meeting discussed ways to enhance the attraction of foreign investment, expand economic partnerships, and work towards creating a more competitive and attractive investment environment, thereby contributing to supporting the economic development process.
The attendees also reviewed the progress made in implementing the investment climate reform measures matrix, the achievements of the unified digital window project to simplify procedures for registering foreign companies, the review and development of several executive regulations, and the follow-up on related restructuring files.
The meeting concluded by emphasizing the adoption of a work mechanism based on periodic and executive follow-up of the reform matrix, in order to ensure improved performance efficiency, address challenges continuously, and enhance the competitiveness of the investment climate in Libya.
