🇱🇾LibyaNorth Africa
Libyan Export Development Authority and Libyan Iron and Steel Company sign MoU for fishing trawler factory
via Libya Herald1 min read
The Libyan Export Development Authority LEDA and the Libyan Iron and Steel Company LISCO have signed a Memorandum of Understanding to establish a factory for fishing trawlers. This agreement aims to enhance Libya's national industrial capabilities, utilize available resources, and develop local products to support complementary industries and strengthen the national economy. The project will specialize in manufacturing fishing dredges and vessels, thereby supporting the marine resources sector, increasing the efficiency of the local fishing fleet, and creating new job opportunities. It also seeks to develop national capabilities in maritime industries, support investment in marine resources, produce local products to meet market needs, and open up export opportunities. Both parties emphasized the project's importance in supporting economic development, strengthening national institutional partnerships, and expanding local production to diversify income sources and bolster the national economy. The agreement was signed by Mohamed Abdelmalik Al-Fagih, Chairman of LISCO, and Mohamed Al-Hangari, Chairman of LEDA.
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The National Oil Corporation NOC and the Project Management Institute PMI signed a Memorandum of Understanding MoU on June 7 to enhance institutional capabilities within Libya's energy sector. The MoU establishes a framework for cooperation in training, capacity building, and applying international standards in managing programs and investment portfolios. NOC Chairman Masoud Suleiman and PMI Regional Director for the Middle East and North Africa Hani Al-Shazly signed the agreement. This initiative will provide access to internationally recognized educational solutions and professional certifications, and develop a joint platform to support employees and cultivate national talent for local training and best professional practices. Masoud Suleiman praised this strategic collaboration, which is the first initiative of the Technical and Administrative Development Centre, affiliated with the NOC's General Training Department. He emphasized the NOC's commitment to developing human resources and equipping them with knowledge and digital tools to enhance strategic project implementation and achieve operational excellence. Hani Al-Shazly expressed PMI's pride in partnering with the NOC to strengthen its institutional capabilities and build a sustainable base of expertise, contributing to improved outcomes for vital projects driving economic development in Libya.
Must ReadAn authoritative source at the Central Bank of Libya confirmed to Libya Herald that the bank recently detected a cyber incident targeting a limited number of its systems. Cybersecurity and emergency response teams immediately activated precautionary measures and business continuity plans. The bank took urgent technical measures to contain the incident and isolate affected systems, initiating investigations with specialized experts and international technology companies. Technical investigations are ongoing, and the bank emphasized that such incidents require time for verification and analysis. No confirmed indications of any impact on customer accounts or balances have been detected, with technical verification of data and systems continuing. The impact was limited to a small number of technical systems, while most banking and operational services, including bank card services and the "LYPAY" system, remain functional. The Central Bank of Libya prioritizes financial sector stability and data integrity, treating the incident with seriousness and responsibility. The bank will inform relevant authorities and the public of confirmed findings and developments once technical verification is complete and information is officially approved.
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