The Libyan Business Council (LBC) reported yesterday that it, through its members’ Cooperative Company for the Management of Industrial Zones, had signed a memorandum of understanding last Tuesday (3 June) with the Industrial Zones Authority in Benghazi.
The LBC said this is a strategic step towards promoting industrial development in Libya aimed at developing four industrial zones within the first phase of the project, including the western-central-southern and eastern regions.
The signing ceremony took place in the presence of several members of the House of Representatives and a member of the founding committee of the Industrial Development Fund, which the Libyan Businessmen Council has started to establish to finance industrial zone projects.
The LBC said the official executive contracts are scheduled to be signed immediately after the Eid Al-Adha holiday (6-8 June), after which the actual implementation stages of this project would commence.
It added that this project is one of the most prominent engines supporting the national economy and enhancing the industrial infrastructure.
