By Libya Herald reporter.
Tunis, 8 December 2015:
A senior delegation from Libya led by the Prime minister Abdullah Thinni and a host . . .[restrict]of Malta-based Libyan business, with senior members of the Maltese government and business community met last week to investigate commercial opportunities in a new Libya.
Over 100 guests joined together to explore how Maltese businesses might best prepare to play a key role in Libya’s future success.
Hassan Bouhadi, Chairman of the Libya Investment Authority (LIA), Ahmed Kashadah, the Managing Director of the Libya Africa Investment Portfolio (LAIP), and Faisal Gergab Chairman and CEO of the Libyan Post, Telecommunications and Information holding company (LPTIC) were also present and took every opportunity to share their vision for joint ventures and foreign direct investment.
Held at the Palazzo Parisio in Naxxar, the evening’s celebrations, aptly called ‘The Past, Present and Future of Malta – Libya Business Relations’, was hosted by Mr. Habib Lamin, the Chargé d’affaires at Libyan embassy in Malta. The event showcased business dealings between the two countries across various sectors and discussed plans to further this collaboration in the near future.
Speaking after the event Prime Minister Thinni said, “Historical ties and existing bi lateral Libya-Malta relations are important at this time as our country moves towards a Government of National Unity. The physical proximity of Malta to Libya is an asset, as is its EU regulation, strong adherence to rule of law and the full support of a vibrant financial and investment community. Today Libyan companies and their subsidiaries are investing in and managing their investments in a significant number of corporations in the region and around the world from Malta.”
He continued, the “LIA, LAIP and LPTIC all have permanent offices in Malta taking advantage of EU regulations offered by Malta and the proximity to Libya. During the recent unrest in Libya the role of these offices located in Malta has grown significantly.”
Historically Libya and Malta have always enjoyed very strong economic ties and dependencies. As the private sector in Libya grew over the last decade so did trade between Libya and Malta, increasing from just over $118m in 2010, to a peak of just over $247.2m two years ago.
All participants agree that the meeting will now help lay the groundwork for Maltese entities to play a key role in the opportunities that will arise once stability and security returns to Libya. History, geography and commercial experience confirms that Malta has always been and still remains the logical partner of choice to aid in these growth opportunities. [/restrict]