On Monday, at the headquarters of the Libyan Company for Workers’ Investments, a significant meeting took place with a Thai company to discuss bilateral cooperation between the two institutions in the fields of real estate and agricultural investment, as well as the exchange of expertise.
The meeting, attended by Mohammad Zalouk, the Chairman of the Board of Directors of the Libyan company, and several specialists, also explored the possibilities of engaging in new investment ventures that could contribute to the ongoing construction and sustainable development efforts in Libya.
Both parties agreed to enhance cooperation and finalize bilateral agreements that will enable struggling companies to contribute through their available expertise to the development of construction and development activities in various sectors.
Libya has been in chaos since a NATO-backed uprising toppled longtime leader Muammar Gaddafi in 2011. The county has for years been split between rival administrations.
Libya’s economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya’s economy.
The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions.
The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition.
Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges.
