THE LIBYAN INVESTMENT AUTHORITY (LIA) The Libyan Investment Authority (LIA) is a sovereign wealth fund established by the Libyan government in 2006 to manage and invest the country's oil and gas revenues. The LIA's main objective is to invest these resources to generate wealth and financial returns for the country and its citizens, both in the short and long term. The LIA is structured as a holding company with several subsidiaries and affiliates, each responsible for managing different asset classes and investment portfolios. These include real estate, equities, fixed income, and alternative investments. The LIA's governing body [...]

THE LIBYAN MINISTRY OF ECONOMY The Libyan Ministry of Economy is the government body responsible for formulating and implementing economic policies in Libya. It is one of the key ministries in the Libyan government and is tasked with promoting economic growth, job creation, and sustainable development in the country. The ministry is headed by a minister Mr Mohammed Al-Huweij who is appointed by the Libyan Prime Minister, with the approval of the Libyan House of Representatives. The minister is supported by a team of advisors, department heads and staff members who work together to carry out the [...]

BLINKEN SAYS U.S. 'ACTIVELY' WORKING TO RE-ESTABLISH DIPLOMATIC PRESENCE IN LIBYA HTTPS://WWW.REUTERS.COM/WORLD/AFRICA/BLINKEN-SAYS-US-ACTIVELY-WORKING-RE-ESTABLISH-DIPLOMATIC-PRESENCE-LIBYA-2023-03-22/ WHITE HOUSE: LIBYA AMONG COUNTRIES TO BENEFIT FROM US STRATEGY TO PREVENT CONFLICT AND PROMOTE STABILITY HTTPS://LIBYAOBSERVER.LY/NEWS/WHITE-HOUSE-LIBYA-AMONG-COUNTRIES-BENEFIT-US-STRATEGY-PREVENT-CONFLICT-AND-PROMOTE-STABILITY LIBYA, TUNISIA SEEK TO EXCEED $1.6 BILLION IN TRADE EXCHANGE BY 2025 HTTPS://WWW.LIBYANINVESTMENT.COM/LIBYA-TUNISIA-SEEK-TO-EXCEED-1-6-BILLION-IN-TRADE-EXCHANGE-BY-2025/ BIG OIL EYES NEW DEALS IN NORTH AFRICA AMID RISING ENERGY DEMAND HTTPS://WWW.WSJ.COM/ARTICLES/BIG-OIL-EYES-NEW-DEALS-IN-NORTH-AFRICA-AMID-RISING-ENERGY-DEMAND-CD33E47F US ASSISTANT SECRETARY OF STATE MEETS WITH HAFTAR, AQILA SALEH IN BENGHAZI HTTPS://LIBYAOBSERVER.LY/NEWS/US-ASSISTANT-SECRETARY-STATE-MEETS-HAFTAR-AQILA-SALEH-BENGHAZI EGYPTIAN SECURITY INSPECTION TEAM TOURS BENGHAZI’S BENINA AIRPORT HTTPS://WWW.LIBYAHERALD.COM/2023/03/EGYPTIAN-SECURITY-INSPECTION-TEAM-TOURS-BENGHAZIS-BENINA-AIRPORT/ LIBYA'S NOC COURTS IOCS WITH STRATEGIC PLAN TO REVIVE PRE-2011 OIL BOOM HTTPS://WWW.SPGLOBAL.COM/COMMODITYINSIGHTS/EN/MARKET-INSIGHTS/LATEST-NEWS/OIL/032123-LIBYAS-NOC-COURTS-IOCS-WITH-STRATEGIC-PLAN-TO-REVIVE-PRE-2011-OIL-BOOM UNDERSECRETARY OF THE MINISTRY OF INDUSTRY AND [...]

This factsheet provides the latest statistics on trade and investment between the UK and Libya. Date of release: 28 March 2023; Date of next planned release: 20 April 2023 Total trade in goods and services (exports plus imports) between the UK and Libya was £1.5 billion, in current prices, in the four quarters to the end of Q3 2022, an increase of 37.3% or £399 million from the four quarters to the end of Q3 2021. Of this £1.5 billion: Total UK exports to Libya amounted to £219 million, in current prices, in the four quarters to [...]

EUBAM LEADS LIBYAN MINISTRY OF DEFENCE BORDER MANAGEMENT DEPARTMENT VISIT TO NIGER HTTPS://WWW.LIBYAHERALD.COM/2023/03/EUBAM-LEADS-LIBYAN-MINISTRY-OF-DEFENCE-BORDER-MANAGEMENT-DEPARTMENT-VISIT-TO-NIGER/ SECURITY WORKING GROUP ON LIBYA DISCUSS MILITARY REUNIFICATION HTTPS://LIBYAUPDATE.COM/SECURITY-WORKING-GROUP-ON-LIBYA-DISCUSS-MILITARY-REUNIFICATION/ LIBYA BUILD - THE BIGGEST BUILDING & CONSTRUCTION EXPO IN NORTH AFRICA HTTPS://WWW.LIBYABUILD.COM/TRIPOLI-HOME IMF PROVIDES RECOMMENDATIONS FOLLOWING MEETING WITH CBL IN TUNISIA HTTPS://LIBYAOBSERVER.LY/ECONOMY/IMF-PROVIDES-RECOMMENDATIONS-FOLLOWING-MEETING-CBL-TUNISIA RUSSIA'S WAGNER ACTIVITIES EXPANDING IN LIBYA DESPITE GROWING WESTERN SCRUTINY HTTPS://WWW.AL-MONITOR.COM/ORIGINALS/2023/03/RUSSIAS-WAGNER-ACTIVITIES-EXPANDING-LIBYA-DESPITE-GROWING-WESTERN-SCRUTINY IMF: LIBYA’S ECONOMY WILL DEPEND ON OIL AND GAS PRODUCTION FOR THE FORESEEABLE FUTURE HTTPS://WWW.THENATIONALNEWS.COM/BUSINESS/ECONOMY/2023/03/19/IMF-LIBYAS-ECONOMY-WILL-DEPEND-ON-OIL-AND-GAS-PRODUCTION-FOR-THE-FORESEEABLE-FUTURE/ ONE OF THE LARGEST HYUNDAI SHOWROOMS IN THE WORLD OPENS IN MISRATA HTTPS://WWW.LIBYAHERALD.COM/2023/03/ONE-OF-THE-LARGEST-HYUNDAI-SHOWROOMS-IN-THE-WORLD-OPENS-IN-MISRATA/ UBAM LEADS LIBYAN MINISTRY OF DEFENCE BORDER MANAGEMENT DEPARTMENT VISIT TO NIGER HTTPS://WWW.LIBYAHERALD.COM/2023/03/EUBAM-LEADS-LIBYAN-MINISTRY-OF-DEFENCE-BORDER-MANAGEMENT-DEPARTMENT-VISIT-TO-NIGER/ [...]

The conventional wisdom on Libya is that the country's problems stem from tribalism, cultural divisions, divisive politics, and interference from foreign powers. While these factors play a role, it is important to recognise that change can also come from within, from the grassroots level. Libya has a long history of local governance and self-organisation, with tribal and community leaders playing a significant role in decision-making. This bottom-up approach to governance has the potential to be harnessed to create positive change. One example is the emergence of local councils in Libya's eastern region, which have been responsible for [...]

BIN QADARA STRESSES THE NEED FOR AMERICAN COMPANIES TO RETURN TO WORK IN LIBYA. HTTPS://LANA.GOV.LY/POST.PHP?ID=273146&LANG=EN BATELLI: THE POSTPONEMENT OF THE ELECTIONS WAS A DISAPPOINTMENT FOR THE LIBYANS, AND THE CURRENT POLITICAL BODIES ARE THE CAUSE OF THE CRISIS. HTTPS://LANA.GOV.LY/POST.PHP?ID=273144&LANG=EN HOW LIBYA’S CENTRAL BANK CHIEF SURVIVED A DECADE OF CONFLICT HTTPS://NEWLINESMAG.COM/REPORTAGE/HOW-LIBYAS-CENTRAL-BANK-CHIEF-SURVIVED-A-DECADE-OF-CONFLICT/ LIBYA: IS A PRESIDENTIAL ELECTION POSSIBLE IN 2023? HTTPS://NATIONWORLDNEWS.COM/LIBYA-IS-A-PRESIDENTIAL-ELECTION-POSSIBLE-IN-2023/ CLEAN ENERGY TECHNOLOGY IS THE LATEST TOOL OF FOREIGN POLICY HTTPS://POLITICSTODAY.ORG/CLEAN-ENERGY-TECHNOLOGY-FOREIGN-POLICY-RUSSIA-UNITED-STATES-CHINA/ OPPORTUNITIES FOR UNIFYING LIBYAN MILITARY ENHANCED BY NEW AGREEMENT – REPORT HTTPS://LIBYAUPDATE.COM/OPPORTUNITIES-FOR-UNIFYING-LIBYAN-MILITARY-ENHANCED-BY-NEW-AGREEMENT-REPORT/ MENFI RECEIVES NORLAND IN TRIPOLI, VOWS TO FULFILL PC'S ROLE TOWARDS ELECTIONS HTTPS://LIBYAOBSERVER.LY/NEWS/MENFI-RECEIVES-NORLAND-TRIPOLI-VOWS-FULFILL-PCS-ROLE-TOWARDS-ELECTIONS NOC, US-ARAB [...]

This factsheet provides the latest statistics on trade and investment between the UK and Libya. Date of release: 17 March 2023; Total trade in goods and services (exports plus imports) between the UK and Libya was £1.5 billion, in current prices, in the four quarters to the end of Q3 2022, an increase of 37.3% or £399 million from the four quarters to the end of Q3 2021. Of this £1.5 billion: Total UK exports to Libya amounted to £219 million, in current prices, in the four quarters to the end of Q3 2022 (an increase of [...]

The recent recognition by the African Development Bank to the role played by the private sector in Libya is a positive indicator and reflects an improving trend in the country https://techbullion.com/libyas-private-sector-a-key-player-in-economic-revival/ Whilst it is easy to focus on the oil and gas let’s give praise to some of the more progressive elements of Libya commerce - in this post the food and agriculture sector. In the last two days there have been three excellent examples of private enterprise. Firstly, the opening of the largest pasta, couscous and semolina factory in North Africa in the city of #Zliten [...]

Outlook and risks The outlook for economic growth remains positive. The economy is projected to grow by 3.5% in 2022 and 4.4% in 2023, depending on political stabilization, security improvements, and persistence of oil production. Inflation is projected to stay elevated at 3.7% in 2022 before falling a little to 2.4% in 2023, driven by international food prices. The fiscal balance is expected to record a surplus of 25.8% of GDP in 2022 and 17.3% in 2023 due to higher revenues from oil output. The current account surplus is projected to climb to 27.9% of GDP in [...]