The importance of social wealth, also known as social capital, cannot be underestimated in Libya's business ecosystem. Developing a network of relationships, connections, and resources is a valuable commodity that takes time, experience, and credibility to establish. When venturing into the Libyan market to establish a company, project, or even oneself, social wealth becomes a cornerstone for success. The Impact of Historical Regime on Entrepreneurship During the previous regime that lasted from 1969 to 2011, Libya faced several negative effects that hindered entrepreneurship and the overall business environment. Centralised economic control left little room for private entrepreneurs [...]

Benghazi Chamber of Commerce visits its Bizerte counterpart – discuss free zone, shipping line, investments https://libyaherald.com/2023/07/benghazi-chamber-of-commerce-visits-its-bizerte-counterpart-discuss-free-zone-shipping-line-investments/ Algec restarts first unit at Zueitina power station after a seven-year hiatus https://libyaherald.com/2023/07/algec-restarts-first-unit-at-zueitina-power-station-after-a-seven-year-hiatus/ Marshal Haftar’s Absence in Rome Conference Stokes Controversy https://libyaupdate.com/marshal-haftars-absence-in-rome-conference-stokes-controversy/ Malta, Libya hold joint naval drills to curb migration https://www.couriermail.com.au/news/world/malta-libya-hold-joint-naval-drills-to-curb-migration/video/63a0a9b41c9786e9b5e9118e71fa008c Libyan Railroads holds consultations with the ambassadors of Chad and Niger on rail link for transit trade route https://libyaherald.com/2023/07/libyan-railroads-holds-consultations-with-the-ambassadors-of-chad-and-niger-on-rail-link-for-transit-trade-route/ Assessing the Impact of Global Energy Trends on Libya’s Market https://www.energyportal.eu/news/assessing-the-impact-of-global-energy-trends-on-libyas-market/44830/ Italy offers aid to Libya to limit illegal migration to Europe https://www.middleeastmonitor.com/20230724-italy-offers-aid-to-libya-to-limit-illegal-migration-to-europe/ Bathily Highlights Major Obstacles to Libyan Elections [...]

Don’t be invisible or lost in the crowd!  In an increasingly interconnected world, businesses are continuously seeking ways to expand their horizons and explore new markets. When it comes to the Libyan market, many companies face the decision of whether to be merely commercial tourists, or to establish a more permanent operational presence on the ground. While being a visitor may seem attractive due to its lower financial commitment level (although this is not always true), there are significant advantages to being operational and fully investing in Libya. In this article, we explore the benefits of being [...]

Ministry of Economy and Trade meets the President of the Arab-Turkish Association for Businessmen and Investors – discuss investment opportunities https://libyaherald.com/2023/07/ministry-of-economy-and-trade-meets-the-president-of-the-arab-turkish-association-for-businessmen-and-investors-discuss-investment-opportunities/ Libya’s oil minister says closure of oilfields cost 340,000 barrels https://www.arabnews.com/node/2338321/business-economy Iran's embassy in Libya ready to provide services: delegation chief http://www.china.org.cn/china/Off_the_Wire/2023-07/16/content_92609049.htm First Iranian ship docked at Libya port in 10 years https://en.mehrnews.com/news/203284/First-Iranian-ship-docked-at-Libyan-port-after-10-years Libya and Canada discuss strengthening cooperation in the field of renewable energies https://libyaherald.com/2023/07/libya-and-canada-discuss-strengthening-cooperation-in-the-field-of-renewable-energies/ US court upholds dairy investor’s award against Libya https://globalarbitrationreview.com/article/us-court-upholds-dairy-investors-award-against-libya United Nations and Libyan Government Representatives Hold High-Level Event to Discuss United Nations Sustainable Development Cooperation Framework 2023-25 https://african.business/2023/07/apo-newsfeed/united-nations-and-libyan-government-representatives-hold-high-level-event-to-discuss-united-nations-sustainable-development-cooperation-framework-2023-25 The Libyan [...]

This factsheet provides the latest statistics on trade and investment between the UK and Libya. Date of release: 20 July 2023. Total trade in goods and services (exports plus imports) between the UK and Libya was £1.5 billion in the four quarters to the end of Q4 2022, an increase of 15.5% or £207 million in current prices from the four quarters to the end of Q4 2021. Of this £1.5 billion: Total UK exports to Libya amounted to £219 million in the four quarters to the end of Q4 2022 (an increase of 14.7% or £28 [...]

Today marks a significant milestone for Red Castle. Under the British Libyan Business Association (BLBA) mentorship, they are launching their inaugural course in Libya: the Highfield Level 3 International Award in Delivering Training (IADT). This comprehensive programme does more than teach individuals how to deliver training; it fosters confidence, equips students with essential presentation skills, and opens doors to public speaking opportunities. Daren Holley, Head of Strategy and Training at Red Castle, recognises this achievement as a pivotal moment for the company that has been months in the making. Bringing years of experience delivering training in the [...]

First Iranian ship docked at Libya's Misrata Port after nearly ten years. https://en.mehrnews.com/news/203284/First-Iranian-ship-docked-at-Libyan-port-after-10-years Navigating the Road Safety Crisis in Libya: Challenges and Solutions https://libyaobserver.ly/opinions/navigating-road-safety-crisis-libya-challenges-and-solutions Production stops at Libya's El Feel oilfield - tribal leader, oil engineer https://www.nasdaq.com/articles/production-stops-at-libyas-el-feel-oilfield-tribal-leader-oil-engineer-0 One day after threat of force majeure, production resumes at Libya’s oilfields https://thearabweekly.com/one-day-after-threat-force-majeure-production-resumes-libyas-oilfields Libya and Netherlands discuss security cooperation – preparing to sign MoU https://libyaherald.com/2023/07/libya-and-netherlands-discuss-security-cooperation-preparing-to-sign-mou/ Libya exploring increasing exports to Turkey as part of its diversification policy – removing Turkish tariffs on Libyan products discussed https://libyaherald.com/2023/07/libya-exploring-increasing-exports-to-turkey-as-part-of-its-diversification-policy-removing-turkish-tariffs-on-libyan-products-discussed/ Egypt considers localization of olive oil industry with Libya https://www.zawya.com/en/economy/north-africa/egypt-considers-localization-of-olive-oil-industry-with-libya-flc14lcg The Growing Importance of [...]

The British Libyan Business Association (BLBA) has launched a petition urging the United Kingdom government to reassess its travel advice for Libya. To read the full story - CLICK HERE

The British Libyan Business Association has launched a petition urging the United Kingdom government to reassess its travel advice for Libya. The petition emphasises that the current advisory needs to accurately reflect the country’s security, political, and commercial environment and argues that it places UK/Libyan commerce at a disadvantage while benefiting other nations. Please click HERE to support the petition. Unfortunately, only UK companies and individuals can take part in the petition; therefore, please repost, share and pass on to your UK colleagues, partners and friends so they can support this initiative.

Libya restores vote in FAO https://libyaupdate.com/libya-restores-vote-in-fao/ The Constitutional Court Deepens The Gap In The Libyan Crisis https://globeecho.com/news/the-constitutional-court-deepens-the-gap-in-the-libyan-crisis/ 70 Libyan MPs reject US envoy’s statements and support the government’s decision to seize oil revenues https://libyaupdate.com/70-libyan-mps-reject-us-envoys-statements-and-support-the-governments-decision-to-seize-oil-revenues/ Libya's Haftar urges deal on 'fair' distribution of oil revenues https://www.africanews.com/2023/07/04/libyas-haftar-urges-deal-on-fair-distribution-of-oil-revenues/ Dabaiba is discussing with Bin Qadara the National Corporation's plan to increase oil and gas production. https://lana.gov.ly/post.php?id=282419&lang=en Man-made River system’s power line malfunction in eastern field repaired https://libyaobserver.ly/inbrief/man-made-river-systems-power-line-malfunction-eastern-field-repaired The Impact of Climate Change on Libya’s Energy Resources and Market https://www.energyportal.eu/news/the-impact-of-climate-change-on-libyas-energy-resources-and-market/36559/ The Role of AI in Transforming Libya’s Oil and Gas Industry https://isp.page/news/the-role-of-ai-in-transforming-libyas-oil-and-gas-industry/ [...]