Magroun Industrial Zone to boost Libya-China industrial and investment partnership
via Libya Herald1 min read
A new phase of industrial cooperation and investment partnership between China and Libya has been announced with the launch of the Magroun Industrial Zone. The announcement was made during a signing ceremony in Benghazi on Tuesday, July 21, between the National Development Agency and 13 Chinese companies. A representative of the Chinese companies stated that Libya is focused on reconstruction, developing local industries, and decreasing reliance on foreign products. The Magroun Industrial Zone's location offers strategic and investment advantages due to its proximity to African markets, ports, and airports, making it suitable for transit trade. The Chinese representative acknowledged the significant official support from the Libyan Government and the National Development Agency for the project's success. The Industrial Zone will feature comprehensive infrastructure, including water, electricity, storage facilities, roads, and fully equipped factory units.
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