Libya seeks investment partnerships in billion dollar projects
By Sami Zaptia.
Istanbul, 11 May 2017:
A number of Libyan investment entities invited potential foreign investors to participate in the development of Libya.
Gathered international and Libyan investors were presented with a number of possible investment opportunities by the Organization for the Development of Administrative Centres (ODAC), Libyan Investment and Development Company (LIDCO), Misrata Free Zone (MFZ), Libyan Iron and Steel Company (LISCO) and the Libyan Local Investment and Development Fund (LLIDF) – potentially in the billions of dollars.
Representatives of investors including from the US, Britain, Russia, Germany, Greece, UAE, Egypt, Tunisia, Jordan, Turkey as well as Libya were presented with thousands of existing and new projects that could offer ‘‘quite fast return on investment’’, organizers said.
The advantage of most of these potential projects, they stressed, was that much work has already been done in the preparatory stages such as the design and approvals. Other projects, such as the MFZ and LISCO are very successful and profitable operating entities wishing to expand operations, they explained.
Some projects, stalled by the Libyan revolution, insecurity and financial crises have reached 18 to 33 percent completion, whilst others are new, representatives from the entities informed gathered potential investors.