Govt: “Quick Win” Projects for Foreign Investors

By Adam Nathan.

Libya’s Deputy Prime Minister has called for foreign companies to come back to Libya and work on key infrastructure and “quick win” projects with the new government in Tripoli.

In an interview with Libya Business News, Deputy Prime Minister Ahmed Maiteeg (pictured), a businessman politician from Misrata and key figure in the Government of National Accord (GNA), said that foreign companies would be needed in the oil and gas, electrical power, transport and housing sectors in coming months.

A lot of investors know that there is a big opportunity in Libya,” said Maiteeg from his offices in Tripoli, where he is leading government efforts on the economy. “We have a lot of projects going on in Libya and I believe we can have these started in a few months.

Maiteeg added: “The government is choosing projects for quick wins to show Libyan people that this government works and these quick wins could be a very good investment opportunity. We are talking about airports, we are talking about highways, and some of these projects we could change from public sector to private sector, such as housing.

Mr. Maiteeg made it clear that his government was for the whole country and he would be pushing for investment in eastern cities such as Benghazi. “It is important to show that we are the government of east as well as west,” he said.

Some of the proposed 'quick win' projects include a new ring road around the capital Tripoli; the airports in Tripoli and Benghazi; a public metro system for Tripoli and Benghazi; the restructuring of the health, education and local government ministries and their assets; and the conversion of half-built public sector housing assets to the private sector.

Maiteeg is overseeing a new style of public-private partnership for the country, between local investment authorities under the Libyan Investment Authority (LIA) and foreign investors. There is also the potential for 'build-operate-transfer' (BOT) projects.

We are looking at restructuring some of Ministries such as the Ministry of Health, the Ministry of Education and the Ministry of Local Government – and this can also be a very good investment,” said Maiteeg. “We are looking to rebuild our understanding of public projects.

The government is also looking to boost production in the oil sector, which accounts for 97 percent of the government income, to a sustainable level of about one million barrels a day.

We have to keep the flow at this level and this can be difficult,” said Maiteeg. “This is why we have to invest in our oil industry infrastructure and this is another area where there can be a lot of opportunity for foreign businesses. The British, Europeans and Americans are focused on investing into our oil sector because they know the capacity of Libya oil, which is very easy to extract and of high quality, to be exported into Europe. And we will be opening that sector for investment in the near future.

 

Adam can be contacted at [email protected] and +44 7900 783662.

3 Responses to Govt: “Quick Win” Projects for Foreign Investors

  1. MARK DALLI 19th July 2016 at 11:05 am #

    ...and what about security?

  2. Dr Satya P.Bindra 20th July 2016 at 7:55 am #

    UNCSD Rio+20 Focal Point Libya hails Deputy PM Maiteeq for promise to overseeing a new style of public-private partnership for the country. UNCSD would urge Libya to restore its image & lead by example for justice, protection of human rights, & dignity besides safety & security. There are cases of abuse of human rights & gross violations of national & international laws. How come even a few distinguished foreign Professors in Libyan universities who chose to serve Libya are not paid even their salaries what to talk of foreign currency remittances. There is no cash in banks, no access and or debit cards. Many left the country without payment of salaries.

  3. Dr Satya P.Bindra 20th July 2016 at 8:37 am #

    refer my PREVIOUS COMMUNICATION " WHAT IS YOUR ADVICE TO LIBYA?

    February 18, 2014 at 4:29 pm #
    UNCSD Rio+20 Focal Point Future Libya wants urges Libyan government to respect international, regional, multilateral & bilateral agreements. We are all connected be it a Libyan or foreigner from the same source. We must respect and accept every one with same rights. Foreigners too are human beings with human rights. As UN member state Libya must settle the cases of foreigners invited as experts by giving them salaries with dignity and no discrimination.

    JULY 16 2017
    UNCSD Rio+20 Focal Point Libya request The AMIDEAST Libya to respect US policy & not restrict in Libya PCELT for Libyan only. All US Based educational centers of learning like Princeton University subscribes to a policy of equal opportunity. They all believe that commitment to principles of fairness and respect for all helps create a climate that is favorable to the free and open exchange of ideas, and the seek to reach out as widely as possible in order to attract the ablest individuals as students, faculty, and staff. For these reasons, decisions concerning admission to academic and other programs, as well as employment decisions in all departments and offices, are made on the basis of an individual’s qualifications to contribute to meeting educational objectives and its institutional needs. In applying this policy, US is rightly committed to the principle of not discriminating against individuals on the basis of personal beliefs or characteristics such as political views, religion, national or ethnic origin, race, color, sex, sexual orientation, gender identity, age, marital status, veteran status, or disability unrelated to job or program requirements.

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