A team from the United States Embassy to Libya visited the Business Incubator at Benghazi University as part of Global Entrepreneurship Week 2024.
According to a statement on the embassy’s “X” platform account, the team met with the incubator’s management and student entrepreneurs, learning about their innovative projects in various fields, including medicine and robotics.
The U.S. delegation expressed admiration for the passion and determination of Libya’s ambitious youth, who are actively shaping a bright future through their entrepreneurial endeavors.
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.
