LAP considering increased investments in ‘‘profitable’’ Morocco
By Sami Zaptia:
London, 13 March 2018:
The Libya Africa Investment Portfolio (LAP) is considering increasing its investments in Morocco, its International Relations Manager informed Libya Herald. LAP is a wholly-owned subsidiary of the Libyan Investment Portfolio (LIA), Libya’s main sovereign wealth fund.
The revelation was made during a visit to Casablanca, Morocco by a LAP delegation headed by its Chairman and General Manager. The visit came at the invitation of the Moroccan Commercial Foreign Bank which has shared interests with LAP in a number of African states.
The LAP delegation also met with Ministry of Tourism and Casablanca business representatives who made a presentation of investment opportunities.
Mohamed Abedi, Chairman of LAP, commented during the visit that LAP investments in Morocco were ‘‘successful and profitable, which encouraged us to come to Morocco to study available opportunities’’.
LAP’s International Relations Manager, Younis Bishari, added that LAP had a ‘‘strategic plan which it was implementing, especially if the investment climate was encouraging. But our priority is to support existing investments, ensuring our relationships with our partners and thereon studying available investment opportunities if they are within LAP’s plan’’.