Libyan Agricultural Investment Company signs MoU with Azerbaijan's Sisan for agricultural and livestock projects

The Libyan Agricultural Investment Company LAICo and Azerbaijan's Sisan Agricultural Production, Livestock Development, and Related Industries Company have signed a Memorandum of Understanding in Tripoli. The agreement, signed by LAICo's Director General, Ibrahim Bashir Al-Rais, and Sisan's General Manager, Ahmed Bayar, aims to facilitate Sisan's entry into the Libyan market. This initiative supports Libya's efforts to boost domestic investment and diversify income sources, aligning with directives from Prime Minister Abdel Hamid Aldabaiba. The MoU includes preliminary arrangements for agricultural projects such as the Zliten and Tawergha Agricultural Projects, with technical studies and organizational plans to follow. Mr. Al-Rais stated that the memorandum is a result of prior discussions and signals LAICo's readiness to implement investment projects in agriculture, livestock, and related industries. Mr. Bayar highlighted Libya's promising investment opportunities, citing its natural resources, fertile land, diverse geography, quality soil, proximity to ports, and supportive foreign investment legislation.