The Libya-Egypt Economic Forum took place on Sunday, organised by the General Union of Chambers of Commerce, Industry, and Agriculture, and hosted by the National Council for Economic and Social Development at its headquarters in Tripoli.
The forum welcomed an Egyptian economic delegation led by Mohamed El-Bahi, Vice President of the Egyptian Federation of Industries, along with Tamer Hefni, Chargé d’Affaires at the Egyptian Embassy in Libya, and representatives from several leading Egyptian companies specialising in sectors such as industry, construction, and real estate investment.
Opening speeches were delivered by Mohamed Raied, President of the General Union, followed by addresses from El-Bahi, Tamer Hefni, Mahmoud Al-Futaisi, Chairman of the Economic Development Council, and Mohamed Al-Hweij, Libya’s Minister of Economy and Trade.
The event continued with a panel discussion, exploring various topics related to cooperation and investment opportunities in Libya. Discussions focused on the laws and regulations governing investments, the process of establishing branches for Egyptian companies in Libya, and other aspects of business and investment operations.
The forum aims to strengthen economic ties between Libya and Egypt, promoting investment opportunities and mutual cooperation in key sectors.
A delegation of 38 Egyptian companies travelled to Tripoli and Benghazi on Saturday to meet with Libya’s Minister of Economy, chambers of commerce, industry leaders, key importers, and reconstruction companies.
These statements were made by Alaa Nasr El-Din, member of the Wood and Furniture Chamber and the Arab Cooperation Committee of the Federation of Egyptian Industries.
The visit was organised under the auspices of the Federation of Egyptian Industries, represented by the Arab Cooperation Committee, chaired by Dr. Mohamed El-Bahi, with the support of Ramadan Galal, Omar Abou Shadi, and Randa Galal.
Nasr El-Din stated in a press release that Egyptian companies are eager to secure a share in the “reconstruction pie.” The delegation includes businesses from various sectors such as wood, steel, hotels, metals, clothing, and digital industries.
He emphasised that reconstruction is a major priority for both Egypt and Libya, especially given the readiness and expertise of Egyptian companies. The initiative is expected to bolster employment opportunities for skilled Egyptian workers, with the Cairo Chamber of Commerce estimating that Libya’s reconstruction could create up to 3 million jobs for Egyptians over the next three years.
The Libyan economy is valued at approximately $51 billion, with a population of 6.9 million. Libya holds the fifth-largest oil reserves in the Arab region, and recent economic reports estimate the cost of rebuilding the country at $570 billion, according to Nasr El-Din.
