Libya has “Huge Potential” – UK Investment Chief

Nick Baird (pictured), Chief Executive of United Kingdom Trade and Investment (UKTI), has told Libya Herald that Libya is a priority target market for UK export growth:

It has huge potential, resources and entrepreneurial people. The 42 years of bad government under the previous regime have not fulfilled Libya’s development needs.

“It has relied too much on the exports of oil, rather than using oil money to build its infrastructure etc. This is where the UK is strong.

There are around 3,000 Libyan doctors working in the NHS in the UK, and about 50% of overseas Libyan students are sent to the UK. And there is a large number of dual nationality Libyans.

He described the Libyan market is challenging because currently there is no political stability as Libya is in a stage of transition, but added that business is being done in Libya by British companies, such as NATS in the aviation sector training and improving air traffic control.

There are also British companies in the health sector, and De La Rue is printing Libya’s bank notes. In the infrastructure sector the UK is cooperating with the Libyan Ministry of Transport and supporting Libya in its bid for the African games using the UK’s recent London Olympics experience.

Baird was guest of honour at the official opening of the first branch of leading UK department store Debenhams in the Siyahiya end of Gergarish road, Tripoli.

He said he felt that it was very important that the UK government and business understands opportunities in Libya and does not get “scared off”.

He added:

The more they understand the more companies will come to Libya. We see this as a two-way process … I want to go back to the UK and say that business is being done in all sectors in Libya – don’t believe everything you read in the newspapers.

(Source: Libya Herald)

One Response to Libya has “Huge Potential” – UK Investment Chief

  1. Dr Mohamed Badi September 27, 2013 at 10:20 am #

    Dear Mr Baird
    Why not make use of the dual nationality Libyan / UK professionals such as doctors, university lecturers etc.. by providing opportunities (a formal framework ) to contribute for the improvement of UK – Libya relationship in terms of culture, education, trade, industry and so on. Most of us are fluently bilingual with vast experience in our fields, and such opportunities would provide an incentive for the brain drain to be reversed for the benefit of both countries. Look forward to hear from you.
    Best wishes
    Dr M Badi
    UK University Lecturer
    (Engineering)

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