Minister of Economy discusses cooperation with Islamic Development Bank https://libyaobserver.ly/economy/minister-economy-discusses-cooperation-islamic-development-bank  Libya and Italy discuss establishment of an Italian-Libyan hospital and medicine manufacturing in Al-Maya factory https://libyaherald.com/2024/03/libya-and-italy-discuss-establishment-of-an-italian-libyan-hospital-and-medicine-manufacturing-in-al-maya-factory/  Misrata Free Zone announces work resumption of grain silos https://libyaobserver.ly/inbrief/misrata-free-zone-announces-work-resumption-grain-silos  Cairo International Fair Opens with Major Libyan Participation https://libyaninvestment.com/cairo-international-fair-opens-with-major-libyan-participation/ Libya’s Albaraka Insurance Signs on to Sponsor Invest in African Energy (IAE 2024) https://www.zawya.com/en/press-release/africa-press-releases/libyas-albaraka-insurance-signs-on-to-sponsor-invest-in-african-energy-iae-2024-ygx818r7 Launch of Libya’s ‘‘Energy Transition and Climate Change’’ projects https://libyaherald.com/2024/03/launch-of-libyas-energy-transition-and-climate-change-projects/ Libyan Drilling Company Challenger Pledges Support for Libya’s Energy Resurgence https://energycapitalpower.com/libya-drilling-challenger-energy-resurgence/ Ministry of Industry reviews investment with Kuwaiti companies https://libyaobserver.ly/inbrief/ministry-industry-reviews-investment-kuwaiti-companies REAoL signs MoU with Canadian companies https://libyaherald.com/2024/03/reaol-signs-mou-with-canadian-companies/ Libya: [...]

EEC-EG: “Libya Build” Exhibition A Leading Construction Exhibition In North Africa https://libyaninvestment.com/eec-eg-libya-build-exhibition-a-leading-construction-exhibition-in-north-africa/ NOC says all operations across all offshore and onshore locations are operating as normal https://libyaherald.com/2024/02/noc-says-all-operations-across-all-offshore-and-onshore-locations-are-operating-as-normal/ Audit Bureau, USAID organize joint workshop https://libyaobserver.ly/inbrief/audit-bureau-usaid-organize-joint-workshop Governor of Libya’s central bank asks Dbeibeh to cut spending https://libyaupdate.com/governor-of-libyas-central-bank-asks-dbeibeh-to-cut-spending/ New maritime trade route to connect Morocco, Libya, Tunisia, and Spain https://libyaupdate.com/new-maritime-trade-route-to-connect-morocco-libya-tunisia-and-spain/ Japan Pledges $1.6 Mln to Aid Flood-Affected Families in Libya https://see.news/japan-pledges-16-mln-to-aid-flood-affected-families-in-libya Libyan oil output reaches 1.25 mln bpd, NOC chairman says https://www.xm.com/research/markets/allNews/reuters/libyan-oil-output-reaches-125-mln-bpd-noc-chairman-says-53775753 Libyan central bank chief challenges PM as political splits deepen https://www.reuters.com/world/africa/libyan-central-bank-chief-challenges-pm-political-splits-deepen-2024-02-27/ Agricultural Ministry holds meeting to discuss implementation [...]

This factsheet provides the latest statistics on trade and investment between the UK and Libya. Date of release: 22 February 2024. Total trade in goods and services (exports plus imports) between the UK and Libya was £1.7 billion in the four quarters to the end of Q3 2023, an increase of 10.7% or £164 million in current prices from the four quarters to the end of Q3 2022. Of this £1.7 billion: Total UK exports to Libya amounted to £410 million in the four quarters to the end of Q3 2023 (an increase of 48.0% or £133 [...]

UK’S AWARD-WINNING ‘‘CONCRETE CANVAS’’ TO SHOWCASE AT LIBYA BUILD – MARKING A RETURN TO THE EXHIBITION FOR UK COMPANIES https://libyaherald.com/2024/02/uks-award-winning-concrete-canvas-to-showcase-at-libya-build-marking-a-return-to-the-exhibition-for-uk-companies/  Spanish medical specialists complete tenth Libya visit over past year – treating 3,000 patients and performing 400 surgeries https://libyaherald.com/2024/02/spanish-medical-specialists-complete-tenth-libya-visit-over-past-year-treating-3000-patients-and-performing-400-surgeries/ Egyptian companies say ready to establish new factories in Libya https://libyaobserver.ly/economy/egyptian-companies-say-ready-establish-new-factories-libya Morocco and Libya Move Towards Resumption of Flights https://www.moroccoworldnews.com/2024/02/360908/morocco-and-libya-move-towards-resumption-of-flights US and Libyan central bank officials discuss technical support for economic policies https://libyaupdate.com/us-and-libyan-central-bank-officials-discuss-technical-support-for-economic-policies/  MMRA begins work on ground tank in Ghadames to supply the city with water https://libyaobserver.ly/inbrief/mmra-begins-work-ground-tank-ghadames-supply-city-water  UK minnow passes African nation’s ‘due diligence’ test https://www.upstreamonline.com/politics/uk-minnow-passes-african-nation-s-due-diligence-test/2-1-1600542?zephr_sso_ott=owWTy1  Dbeibeh [...]

AfDB forecasts robust economic growth for Libya in 2024 https://libyaobserver.ly/economy/afdb-forecasts-robust-economic-growth-libya-2024 American company inspects construction site of oil refinery in southern Libya https://libyaobserver.ly/inbrief/american-company-inspects-construction-site-oil-refinery-southern-libya CBL participates in the first meeting of 2024 with the United States Agency for International Development. https://lana.gov.ly/post.php?id=302275&lang=en Egyptian companies say ready to establish new factories in Libya https://libyaobserver.ly/economy/egyptian-companies-say-ready-establish-new-factories-libya Erdogan, Sisi meeting to boost reconstruction in Libya: Libyan minister https://www.aa.com.tr/en/africa/erdogan-sisi-meeting-to-boost-reconstruction-in-libya-libyan-minister/3140793 UN envoy says Libya will slide into `disintegration' if politicians don't move toward elections https://www.ctinsider.com/news/world/article/un-envoy-says-libya-will-slide-into-18670369.php Menfi reiterates priority of national companies in developing Hamada oilfield https://libyaobserver.ly/economy/menfi-reiterates-priority-national-companies-developing-hamada-oilfield With no embassy in Tripoli, Russian diplomats set up shop [...]

Over 68 public transportation buses, 100 taxis to start operating in Benghazi https://libyaupdate.com/over-68-public-transportation-buses-100-taxis-to-start-operating-in-benghazi/ Libyan ports' projects have created over 19.000 job opportunities https://libyaobserver.ly/economy/libyan-ports-projects-have-created-over-19000-job-opportunities Oil revenues reached 1.4 billion dinars for this January https://libyaobserver.ly/inbrief/oil-revenues-reached-14-billion-dinars-january Egyptian-Libyan trade jumps 42% YoY in 11 months https://www.zawya.com/en/economy/north-africa/egyptian-libyan-trade-jumps-42-yoy-in-11-months-hkda3q08 EU’s Rebuild Project discusses with Libya new cooperation in marine fishing, environmental sanitation, capacity building, and scientific research https://libyaherald.com/2024/02/eus-rebuild-project-discusses-with-libya-new-cooperation-in-marine-fishing-environmental-sanitation-capacity-building-and-scientific-research/   Dbeibah Transfers 7 Public Companies To Investment Promotion Authority For Privatization. https://libyaninvestment.com/dbeibah-transfers-7-public-companies-to-investment-promotion-authority-for-privatization/ MENA Medical Expo will be held in Benghazi from 21 to 24 May https://libyaherald.com/2024/02/mena-medical-expo-will-be-held-in-benghazi-from-21-to-24-may/ Libya’s Politicized Flood Reconstruction Process Highlights Financing Rivalry https://www.mees.com/2024/2/9/geopolitical-risk/libyas-politicized-flood-reconstruction-process-highlights-financing-rivalry/52be0ca0-c74f-11ee-b570-078b2fabf0b9 [...]

At Civil Aviation Authority, German ambassador discuss efforts to enhance aviation safety https://libyaupdate.com/at-civil-aviation-authority-german-ambassador-discuss-efforts-to-enhance-aviation-safety/ Haftar meets with Russian Deputy Defense Minister in Benghazi https://libyaobserver.ly/news/haftar-meets-russian-deputy-defense-minister-benghazi European Union: We support efforts to reintegrate former fighters in Libya https://libyaobserver.ly/inbrief/european-union-we-support-efforts-reintegrate-former-fighters-libya WB delivers report on Storm Daniel damage assessment to GNU https://libyaobserver.ly/news/wb-delivers-report-storm-daniel-damage-assessment-gnu NOC directs its companies to provide urgent solutions to groundwater crisis in Zliten https://libyaobserver.ly/inbrief/noc-directs-its-companies-provide-urgent-solutions-groundwater-crisis-zliten After a ten-year absence, the new Japanese Ambassador arrives in Tripoli https://libyaherald.com/2024/02/after-a-ten-year-absence-the-new-japanese-ambassador-arrives-in-tripoli/ Leaders of Libya’s Central Bank, Audit Bureau and NOC discuss increasing oil production https://libyaupdate.com/leaders-of-libyas-central-bank-audit-bureau-and-noc-discuss-increasing-oil-production/ What military advantage could Russia get out of Libya? https://www.defensenews.com/global/mideast-africa/2024/02/02/what-military-advantage-could-russia-get-out-of-libya/ Dbeibah [...]

Libya Eyes Oil Comeback Despite Political Divide https://oilprice.com/Energy/Crude-Oil/Libya-Eyes-Oil-Comeback-Despite-Political-Divide.html Maltese Ambassador confirms the Maltese companies’ desire to resume their activities in Libya. https://lana.gov.ly/post.php?id=300664&lang=en Al-Mnifi approves a number of new ambassadors to Libya. https://lana.gov.ly/post.php?id=300672&lang=en Libya slowly settling into a permanent stalemate https://www.arabnews.com/node/2445171 US eager to work with Libyan Presidential Council and AU on reconciliation conference https://libyaupdate.com/us-eager-to-work-with-libyan-presidential-council-and-au-on-reconciliation-conference/ LIA chairman meets Deputy UK Ambassador to discuss lifting of UN sanctions on assets https://libyaherald.com/2024/01/lia-chairman-meets-deputy-uk-ambassador-to-discuss-lifting-of-un-sanctions-on-assets/ Five Gulf-led Projects in Africa to Watch https://energycapitalpower.com/gulf-energy-projects-in-africa-to-watch/ Libya, Turkey sign MoU in the field of social care https://libyaobserver.ly/inbrief/libya-turkey-sign-mou-field-social-care Ras Lanuf signs contract with Slovakian Hydromtazah for maintenance [...]

Libya participates in the forty-fourth session of ISESCO https://lana.gov.ly/post.php?id=300176&lang=en REAoL meets China’s Huawei Renewable Energy Co. to discuss cooperation https://libyaherald.com/2024/01/reaol-meets-chinas-huawei-renewable-energy-co-to-discuss-cooperation/ LBC and LIU to establish a private sector finance and investment group https://libyaherald.com/2024/01/lbc-and-liu-to-establish-a-private-sector-finance-and-investment-group/ 30 to 40 percent of Libya’s area is still unexplored for hydrocarbons: Oil Minister Aoun https://libyaherald.com/2024/01/30-to-40-percent-of-libyas-area-is-still-unexplored-for-hydrocarbons-oil-minister-aoun/ Oilinvest Undertakes a Forestation Initiative for Green House Gas Removal in Collaboration with the Libyan Public Services Company https://www.africa.com/oilinvest-undertakes-a-forestation-initiative-for-green-house-gas-removal-in-collaboration-with-the-libyan-public-services-company/ Sonatrach, NOC agree to extend exploration periods in Ghadames Basin in Libya https://www.xm.com/research/markets/allNews/reuters/sonatrach-noc-agree-to-extend-exploration-periods-in-ghadames-basin-in-libya-53738048 Libya needs more international partners to increase oil and gas production https://www.thenationalnews.com/business/energy/2024/01/14/libya-needs-more-international-partners-to-increase-oil-and-gas-production/ Civil Aviation Authority expects [...]

Private investment and international collaborations in Libya are critically important and should not be underestimated The recent under-reported meeting between the Libyan Businessman's Council and the Libyan Industry Union deserves more recognition, as it represents the kind of initiatives that drive economic growth. (link to the story below) Such investment initiatives are pivotal for economic progress in Libya, helping reduce poverty and promote sustainable development. Private investment brings much-needed capital to the economy, supporting vital infrastructure projects, the establishment of factories, and small and medium-sized enterprises. This infusion of capital boosts economic activity, creates jobs, and ultimately [...]