Archive | Investment

LIA to ask UN Permission to Invest Billions

By John Lee. The head of the Libyan Investment Authority (LIA) is reported to be planning to ask the United Nations to allow the sovereign wealth fund to invest billions of dollars. Chairman Ali Mahmoud Hassan Mohamed told Reuters: "We have billions of cash in our accounts not invested." Click here to read the full […]

Kikla launches First Local Development Plan

Kikla's plan preparation task force today handed over the recently completed local development plan to the mayor and municipal council. The five-year plan (2020-2024) was elaborated with the support of the Ministry of Planning and the United Nations Development Programme (UNDP) through the Stabilization Facility for Libya (SFL). The plan is the first one to […]

UK Court Decides on LIA Chairmanship Case

By John Lee. The English Commercial Court  has reportedly ruled that Dr Mahmoud is the rightful Chairman of the Libyan Investment Authority (LIA). Several contenders had claimed the position, including Abdulmajid Breish. More here. (Source: Casemine)

Turkey eyes $120bn Investment Potential in Libya

By John Lee. The chairman of the Turkey-Libya Council of the Foreign Economic Relations has reportedly said that Turkish investors should avail of $120-billion of investment opportunities in Libya. Anadolu Agency quotes Murtaza Karanfil as adding: "There is a call from Libya in this direction ...During the reconstruction process, houses, public buildings and roads will […]

The 10th US-Libya Economic Dialogue

Monday marks the conclusion of the 10th U.S.-Libya Economic Dialogue; a process that remains a pillar of our diplomatic engagement with Libya. Our meeting today demonstrates the United States’ commitment to engaging with all Libyan parties to help advance economic reforms aimed at addressing challenges as well as the underlying causes of the conflict. Our […]

Advancing Libyan/British Business

“The biggest and best Libyan-British trade/investment gathering in 10 years.” - Sir Vincent Fean, Chairman, Libyan British Business Council (LBBC) “Libya will raise its oil production from 1.25 million barrels a day now to 2.1 mbd by 2024.” - Engineer Mustafa Sanalla, Chairman, National Oil Corporation of Libya Over 150 Libyan state-owned and private businesses […]

Libya Static in Doing Business Index

By John Lee. Libya has been ranked 186th out of 190 countries in the World Bank‘s recent Doing Business 2020 report, maintaining its position from the previous year. Top of the list were New Zealand, Singapore and Hong Kong, with last place going to Somalia, just behind Eritrea and Venezuela. Iran ranked 127th, with Iraq […]