Under the patronage of Mr. Abdel Hamid Al-Dabaiba, Prime Minister of the Government of National Unity in the State of Libya, the Union of Arab Chambers and the General Federation of Chambers of Commerce, Industry and Agriculture in Libya, in cooperation with the General Secretariat of the League of Arab States, the Arab Investment and Export Credit Guarantee Corporation, Al-Iktissad Wal-Aamal Group, organize the 19th session of the Conference of Arab Businessmen and Investors in the capital, Tripoli, at the Radisson Blu Hotel, on November 28-29, 2021 in the State of Libya, under the slogan "Investment in Libya is promising opportunities for development and reconstruction."
This conference represents an Arab economic and investment gathering to encourage investment in the State of Libya, to keep pace with the recovery in the Libyan economy and to enhance cooperation among Arab countries in the renaissance of Libya. It is considered an essential platform that brings together all Arab bodies concerned with investment, including senior officials and officials, and the bodies concerned with investment and its promotion, and among Arab entrepreneurs and companies concerned with various investment sectors.
Libya is characterized by a distinguished geographical location, as it is located in the middle of the north of the African continent and overlooks the Mediterranean Sea with a coastline of nearly 2000 km in length. Six Arab and African countries are located on its borders, and it enjoys geographical proximity with Europe. Libya has a vast area estimated at 1,775,500 square kilometers, and its terrain ranges from the coastal plains bordering the Mediterranean Sea in the north to the mountain ranges, to the extension of the Sahara Desert, which is interspersed with a group of oases and inland cities.
International sources gather that the Libyan economy began to recover in 2021, and it is expected that the gross domestic product will grow by 67% in real terms in 2021, with oil and gas production remaining the main driver of economic growth in the same year. The rise in international oil prices will help support the general recovery in oil production, which leads to an increase in government consumption and investment, and in turn supports the recovery of private consumption, as well as the recovery of the non-oil sector.
The General Authority for Investment Promotion and Privatization Affairs in Libya has a unified investment window through which it completes all procedures and provides all the information needed by the investor, in addition to granting licenses and approvals. Recently, the authority prepared the "Incentive Plan for the National Economy and Achieving Sustainable Economic Development", as well as a package of incentive initiatives aimed at supporting economic recovery efforts and activating and creating the performance of economic activities, with the aim of providing appropriate investment conditions and environment for Libyan, Arab and international investors. Work is also underway in cooperation between the Authority, the Ministry of Economy and Trade and the Ministry of Planning to activate the national project for the Libyan investment map, which will allow the investor to access investment opportunities in a detailed and easy manner.
The Social Policy and Institutional Reform Program in Libya aimed at improving the provision of public services and the provision of social assistance to the neediest groups has been completed and will be put into action soon.
Investment in Libya is regulated by the Investment Promotion Law No. (9) of 2010, which provides good guarantees to attract foreign investors to invest in Libya, through the provision of incentives and financial benefits, and granting investors additional benefits given in the event that certain conditions are met, and stipulates the protection of investors’ rights through the so-called investment project guarantees. This law and its executive regulations allow investment in all production and service fields, with the exception of oil exploration and production. This includes huge areas for investment in both transportation, airports, air transport, highways, subways, railways, construction and operation of ports, in the manufacture of cement, building materials, iron and steel, sanitary materials, electrical, food, mechanical and chemical industries, machinery, equipment, spare parts, household goods, school supplies, plastics, leather, fodder, fishing equipment and waste recycling, and in health to build hospitals and laboratories and manufacture of medicines and medical supplies, and in education to establish universities, higher institutes, training and training centers, and international schools and institutes. As well as in the agricultural field for growing food crops, growing fodder and operating poultry breeding stations, in the field of marine wealth for aquaculture, fish preservation and canning, and in the field of tourism for the establishment of hotels, resorts and tourist villages, the management of tourist and recreational facilities, the construction of tourist buildings and homes, as well as public utilities for the construction of residential buildings, the establishment of home gas networks, water desalination plants, purification and sewage stations and other fields.
• Reviewing the policies, trends, the new investment environment in Libya and the promising opportunities for the private sector and Arab investors in light of the new vision of the state.
• Highlighting investment opportunities in vital sectors for Libya's economic renaissance.
• Allow space through the conference for the exchange of knowledge and experiences between businessmen, Arab and foreign experts, and Arab and international institutions concerned with investment in a way that enhances the investment environment in Libya.
• Opening session
• First session: “The Incentive Plan for the National Economy and Achieving Sustainable Economic Development in Libya”.
• Second session: «Investment opportunities in vital sectors».
• Third session: “Investing in Entrepreneurship and Innovation”.
• Fourth session: «Requirements of the modern environment for investment for sustainability and equity».
• Ministries and Competent Official Authorities in the Host Country.
• Chambers of Commerce, Industry and Agriculture in the Arab World.
• Joint Arab-Foreign Chambers.
• Arab and Foreign Businessmen and Investors.
• The Concerned Agricultural, Food, Industrial, Commercial and Investment Companies.
• Banks and Financial Institutions.
• Arab, Regional and International Organizations and Federations Concerned with Investment.
Date published : 26 August 2021