Libya's Privatization and Investment Board discusses strategic partnership with Oxford Business Group
via Libya Herald2 min read
Libya's Privatization and Investment Board PIB Chairman, Abdel Nasser Najm, met with a delegation from Oxford Business Group OBG to explore a strategic partnership aimed at boosting the Libyan economy and attracting foreign direct investment. The PIB stated this initiative is part of its efforts to enhance Libya's international investment standing. The discussion focused on cooperation mechanisms to develop economic and investment content reflecting Libya's economic reality and highlighting investment opportunities in productive and service sectors, with the goal of diversifying income, strengthening the national economy, and attracting foreign capital. They also considered publishing a special report on Libya as part of OBG's "The Report" series, which is utilized by global investors, financial institutions, and policymakers for assessing emerging markets. The OBG delegation provided an overview of their activities, emphasizing their role as a leading international institution in economic studies and investment reports, reaching over 2.2 million investors and 215,000 CEOs worldwide. They highlighted their experience in collaborating with heads of state and senior officials in over 40 countries, including Egyptian President Abdel Fattah al-Sisi and the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani. The PIB Chairman underscored that engaging with international investment promotion institutions is crucial to the authority's strategy, believing that cooperation with OBG will pr
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Libya's General Union of Chambers of Commerce, led by Chairman Saleh Al-Mabrouk Al-Obeidi, concluded an official visit to Egypt to prepare for the Libyan-Egyptian Business Forum in Derna this October. The visit involved meetings with Egyptian economic figures and business leaders, including Medhat Al-Qadi, Chairman of the Alexandria Businessmen Association, to discuss strengthening economic and trade cooperation, opening new partnership and investment opportunities, and ensuring Egyptian participation in the forum. The General Union emphasized that the forum will serve as a platform to enhance economic relations, showcase investment opportunities, and encourage direct communication between business leaders, ultimately benefiting trade, investment, and development in both countries. This initiative aligns with the General Union's goal of fostering regional cooperation and economic partnerships with Arab economic institutions to support Libya's economic development and business community.
Sirte Oil Company has successfully restored production at well J-03 in the Metkhandosh field, as announced by Libya's state National Oil Corporation. This achievement follows the installation and commissioning of an electric submersible pump artificial lift system. Initial tests after the commissioning indicated a production rate of approximately 1,630 barrels of oil per day, demonstrating the efficiency of the technical work and the well's stable performance. This effort aligns with the National Oil Corporation's strategy to maintain and increase oil production through well development, rehabilitation programs, and improved operational efficiency, thereby supporting the sustainability and enhanced capacity of the oil sector.
The Misrata Free Zone MFZ is preparing to host an international economic forum in Rome on July 9th, under the slogan "Misrata Free Zone… Africa’s Gateway for Italian Companies." Alaa El-Din Baba, Director of Marketing and International Relations at MFZ, stated that the forum aims to expand MFZ's international presence and enhance economic cooperation with European markets. The event will bring together economic institutions, investors, businesspeople, and decision-makers from Libya and Italy. Baba highlighted that the forum will showcase MFZ's investment potential, including its competitive business environment, advanced infrastructure, and strategic commercial port, positioning it as a gateway to Libyan and African markets. The forum will focus on investment and partnership opportunities in industrial, logistics, trade, and supply chain sectors to attract quality investments, transfer expertise, and boost trade between Libya and Italy. MFZ seeks to solidify its position as a regional business and investment hub, leveraging its strategic location connecting Europe and Africa. The management anticipates the forum will build confidence in the Libyan economy, highlight investment opportunities, support economic diversification, and enhance Misrata's standing as a logistics and investment hub.