LBC-Pragma-USAID meeting on improving Libyan business environment
By Sami Zaptia.
London, 27 April 2021:
The Libyan Business Council (LBC) reported that yesterday evening a first meeting of the Focus Group on improving the Libyan business environment was held at the Mahari Radisson Blue Hotel in Tripoli.
It said the meeting came as a result of cooperation between the LBC, the Pragma Corporation and within the framework of the Public Finance Management Programme in Libya funded by USAID.
The U.S. Pragma Corporation, through USAID, is responsible for implementing Libya’s Public Finance Management reform (PFM).
The meeting brought together a group of business owners, experts in commercial law and economists and dealt with several points cantered around how to create an environment conducive to comprehensive business and private sector development.
The participants, the LBC added, also addressed the identification of the most important factors that prevent business owners from expanding their businesses and the challenges they face, especially in the southern region.
The meeting also dealt with the experience of the LBC in activating an effective partnership with the public sector through the digital business platform. A more detailed summary of the content of the meeting will be published, including several recommendations that the LBC will be following up with the Libyan government.
The LBC pointed out that the focus group is part of the private sector advocacy platform project, which is the initiative adopted by the LBC and announced on 24 July 2020, in order to create an attractive environment for business and stimulate investment and activate the partnership between the public sector and the private sector.
Two more meetings will be held during the third and fourth quarters of this year to follow up on the focus group’s recommendations, evaluate the results at the level of current economic policies, and measure the improvement of the private sector’s situation, the LBC said.