Libya has declared itself open for business. A conference in London next week will promote Libya as an investment opportunity for British business. Billed as a sequel to a similar initiative in September, the conference aims to capitalize on the expectation that the new government of Prime Minister Abdel Rahim El-Keib will be favourably disposed to British assistance in rebuilding the country. Monday’s conference will be addressed by the National Transitional Council’s UK representative Guma al-Gamaty, who is expected to update potential investors on the formation of a new government and the priorities of the reconstruction programme. Also present will be Edward Oakden, Managing Director of UK Trade & Investment Sectors Group, who recently returned from a trade mission to Libya, and Robin Lamb, Director General of the Libyan British Business Council.
The event press release identifies infrastructure, construction, communications, hospitals, oil refineries, transport services, and financial and business systems as areas for potential British investment. The conference will also target areas for potential medium to long-term partnerships, including oil exploration, tourism development, retail, and service sectors.
“Libya has no debt, is oil rich and needs to set up systems, administration & institutions to govern its democracy. There are massive opportunities for construction, design, planning, technology, communications, hospitals, schools & education, transport and infrastructure.”
Conference organisers expect trade missions to follow from Monday’s presentations and are already working on a third investment conference scheduled for February 2012.
(Source: The Majalla)