Libya is set to host a new industrial city as part of a major Egyptian investment initiative aimed at strengthening economic ties and trade relations between the two nations.
The project, led by 34 Egyptian companies, is expected to revitalize Libya’s industrial sector, create jobs, and attract further foreign investment.
The initiative was announced by Alaa Nasr El-Din, a member of the Chamber of Wood and Furniture Industry and the Arab Cooperation Committee at the Federation of Egyptian Industries.
It follows a recent visit by Egyptian business leaders to Libya, during which over 34 companies specializing in manufacturing, construction, consulting, and services explored opportunities for expansion.
These companies will establish offices in Libya to promote the project and streamline administrative procedures, ensuring smooth implementation.
The industrial city is part of Libya’s broader economic diversification efforts, aiming to reduce reliance on oil revenues and expand non-oil industries.
Libya has been actively working to restore stability and attract foreign investment following years of economic challenges. With Egypt’s strong industrial expertise and experience in infrastructure development, the project is expected to play a key role in Libya’s economic recovery and industrial growth.
