American companies express a strong desire to help rebuild Libya’s infrastructure and economy: U.S Embassy

By Sami Zaptia.

London, 2 December 2020:

The American Chamber of Commerce in Libya (AmCham Libya) hosted a virtual meeting with U.S. Ambassador to Libya Richard Norland and American companies on December 1 to exchange views regarding the evolving political process in Libya and prospects for improving the business climate for U.S. investment, the U.S. Embassy Libya reported today.

It revealed that Ambassador Norland had underscored that the ongoing political process in Libya provided a unique opportunity for Libyan political and economic leaders to achieve these reforms and make Libya a strong and reliable partner for private sector investment.

It added added that American companies expressed a strong desire to deploy their technical expertise and financial resources to help rebuild Libya’s infrastructure and economy.   The business leaders emphasized that greater investment in Libya required long-term political stability, transparent economic decision-making, an agreement on long-term revenue management, and a more enabling business environment, including the Central Bank’s timely and consistent approval of letters of credit that Libyan importers require to honour payments to their foreign business partners.

AmCham Libya joined the United States Embassy in supporting American businesses’ commitment to investing in a more prosperous future for Libya and its people, the report added.

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