馃嚤馃嚲LibyaNorth Africa
Libya and Russia discuss boosting economic and investment ties
via Libya Herald3 min read
Prime Minister Abdel Hamid Aldabaiba met with Ara A. Abramyan, Chairman of the Russian-Libyan Business Council, in June 2026 to discuss enhancing economic collaboration and investment opportunities between Libya and Russia. The discussions focused on supporting economic and investment partnerships, developing coordination mechanisms between public and private sectors, and exploring new avenues for cooperation and expertise exchange. The meeting also included the Libyan Ambassador to Russia, Mohammed Al-Maghrawi, and the Russian Ambassador to Libya. Prior to this, on June 23, 2026, a Russian delegation led by Abramyan visited the Misrata Free Zone to assess its investment and production potential. During this visit, prospects for establishing partnerships, implementing joint projects, and strengthening cooperation within the framework of the Russian-Libyan Intergovernmental Commission on Trade, Economic, Scientific, and Technical Cooperation were discussed.
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Libya Herald.
The Attorney General's Office has ordered the arrest of two senior Sahara Bank managers, the Assistant General Manager and the Head of the Credit Department. They are accused of authorizing an 800 million dinar credit facility without sufficient tangible guarantees, in violation of bank credit regulations. The loan was intended to finance productive and investment operations.
First Mall in Tripoli has officially opened following a construction period of over 15 years, with Prime Minister Abdel Hamid Aldabaiba attending the ceremony. Developed by Al-Sahl Holding Group, the mall is described as one of Libya's largest and most significant investment and commercial complexes. The project, founded by the late Al-Mahdi Qaddad, is seen as a high-quality model combining commercial, service, and entertainment investments. Spanning 6 hectares with a roofed area exceeding 136,000 square meters, it features over 220 retail outlets, administrative offices, bank branches, medical clinics, and event halls. Al-Sahl Holding Group states that the mall will revitalize economic activity, attract brands, create jobs, and stimulate investment in trade and services. Abdulraouf Anfais, an official at Al-Sahl Holding Group, highlighted the project's integrated experience for shopping, services, business, and entertainment, aiming to attract local and international investments and enhance Tripoli's economic standing. The completion of First Mall is expected to send a positive message about the Libyan private sector's capabilities and boost investor confidence in the market.
Fathi Al-Amin Al-Turki, Chairman of Misrata Chamber of Commerce, and Abubakr Abdulbari Shanab, the Chamber's Director General, attended the 22nd Tunisia Investment Forum TIF 2026 in Tunis from June 25-26, 2026. The forum, organized by the Agency for the Promotion of Foreign Investment under the Tunisian Ministry of Economy and Planning, is a recurring event. Misrata Chamber's participation aimed to explore investment opportunities and monitor regional and international investment developments. The event included plenary sessions, specialized workshops, and B2B meetings to foster investor networking.