A delegation from the Turkish Industrialists’ Union has expressed interest in investing in various sectors in Libya, including renewable energy, chemical and food industries, and agriculture.
During their visit on Thursday to the headquarters of Libya’s General Union of Industry, Trade, and Agriculture, the delegation, led by Nuwaf Kelish, discussed promising investment opportunities in the country. According to a statement on the union’s official Facebook page, Libyan industry officials encouraged Turkish companies to expand their presence in Libya.
The meeting was attended by the Director-General of the Libyan Industry Union, Asaad Al-Shartaa, along with union officials, company representatives, and Libyan business leaders.
During the discussions, bilateral meetings were held with attending entrepreneurs, and both sides agreed to maintain communication and collaborate on signing a joint cooperation memorandum in the near future.
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.
