🇱🇾LibyaNorth Africa
Libyan Minister of Economy approves 12 foreign and joint venture companies
via Libya Herald1 min read
The Tripoli-based Libyan Minister of Economy and Trade approved several decisions last Thursday, April 23, concerning 12 foreign and joint venture companies. These decisions included extending branch licenses, adding new activities, and establishing commercial agencies. This initiative aims to enhance the business environment, encourage foreign and joint venture companies to enter the Libyan market, boost confidence in the national economy, and simplify procedures for investors, thereby supporting investments and revitalizing economic sectors. The approved companies are from Turkey, Britain, Tunisia, the UAE, Malaysia, Romania, Algeria, and Mauritius. This action follows a meeting held on Monday, April 13, by the Tripoli Libyan government team to follow up on the US State Department’s Investment Climate Report. The meeting discussed attracting foreign investment, expanding economic partnerships, and creating a more competitive investment environment. Attendees reviewed progress on investment climate reform measures, the unified digital window project for foreign company registration, and the development of executive regulations. The meeting concluded by emphasizing a work mechanism for periodic follow-up of the reform matrix to improve performance, address challenges, and enhance Libya's investment climate competitiveness.
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This summary was AI-generated from a story originally published by Libya Herald.
The Municipality of Tripoli Centre announced on April 19 the initiation of BaladiyaBOT's development, a digital assistant aimed at improving citizen access to municipal services. This initiative, part of Germany's GIZ's Support to Municipalities in Libya SML programme, seeks to enhance digital service delivery at the local level. BaladiyaBOT is designed to extend the physical Citizen Service Centre, offering digital channels to make services more accessible, inclusive, and responsive. The development will be piloted in Tripoli Centre, with testing and refinement in collaboration with municipal staff and citizens, before being rolled out to other municipalities across Libya. BaladiyaBOT aims to simplify access to services and information, improve transparency, and support efficient, citizen-oriented service delivery. The pilot is in cooperation with the Ministry of Local Government, with national scaling planned after full development. This initiative is supported by the SML III programme, funded by the European Union in Libya and the Bundesministerium für wirtschaftliche Zusammenarbeit und Entwicklung BMZ, and implemented by GIZ in partnership with the Libyan Ministry of Local Government and 30 municipalities.
China’s Reed Pelagics investment and trade company, also known as Reed Huayin Trading and Investment Company, launched an animal protein manufacturing facility in the Misrata Free Zone on April 21. The launch event was attended by Mohsen Al-Sagoutri, the Misrata Free Zone Chairman, and Bo Ji Qi, the company’s General Manager, alongside officials and representatives from Chinese companies. This project is intended to support food security and economic diversification by investing in food industries and local production. The Misrata Free Zone stated that the initiative will help reduce reliance on imports, enhance supply chain efficiency, and create added value for the industrial sector. The Misrata Free Zone highlights its comprehensive system of diverse investments across oil, industrial, technological, and logistics sectors, supported by advanced infrastructure, a qualified workforce, and high technical and technological capabilities.
The Tripoli Chamber of Commerce hosted a Malaysian trade delegation at its headquarters last Thursday, April 23. The meeting, attended by the Chamber's Chairman Anwar Abusitta and board members Essam Al-Jahani and Saad Al-Dhawi, included discussions on enhancing economic and trade cooperation between Libya and Malaysia, particularly within the private sector. The Malaysian delegation formally invited the Tripoli Chamber of Commerce to participate in MIHAS, the 22nd Malaysia International Halal Showcase, scheduled for September 23-26, 2026, in Kuala Lumpur. This participation is expected to boost the presence of Libyan companies in Asian markets and foster broader trade cooperation. The Malaysian delegation also thanked the Tripoli Chamber for coordinating bilateral meetings between Libyan and Malaysian companies during the 52nd Tripoli International Fair, noting their fruitfulness in strengthening cooperation opportunities. Both parties emphasized the importance of intensifying efforts to stimulate the economy by activating the private sector and encouraging investment. An agreement was reached to follow up on joint activities and coordinate future economic exhibitions and conferences to support networking for businesses.
The Chairman of the Tripoli Chamber of Commerce, Anwar Bousta, met with Daniel Schemsky, the Chargé d’affaires and Deputy Ambassador of Germany to Libya, at the Chamber’s headquarters. Board members Essam Al-Jahani and Saad Al-Dhawi also attended. The meeting focused on strengthening economic cooperation and developing relations between Libya and Germany. Discussions covered various vital sectors and ways to support economic and trade ties, aiming to open new opportunities for the private sector in both nations. Preparations for the upcoming Libyan-German Economic Forum, scheduled for May, were reviewed. The forum is considered important for enhancing partnership opportunities, fostering communication between investors, and facilitating the entry of German companies into the Libyan market. The participants emphasized coordinating efforts to elevate the private sector's role as a key driver for sustainable economic growth, strengthening long-term partnerships, and encouraging foreign investment, particularly from Germany. The Tripoli Chamber stated that the meeting aligns with its commitment to expanding international relations and supporting the business environment to attract investments, ultimately benefiting the national economy.