A newly formed Egyptian investment alliance, comprising 41 companies, has begun operations to participate in Libya’s reconstruction efforts, a senior official from the Federation of Egyptian Industries (FEI) announced on Saturday.
Mohamed El Mohandes, head of the Chamber of Engineering Industries at FEI, stated that the recently established Arab Industrial Investment Alliance aims to contribute to rebuilding Arab nations, with an initial focus on Libya and Iraq. The initiative seeks to provide industrial and technological expertise to support large-scale reconstruction projects, according to the Middle East News Agency (MENA).
El Mohandes explained that company representatives held a meeting with FEI members to discuss the alliance’s objectives and strategies. He emphasised Egypt’s commitment to facilitating the reconstruction process and overcoming challenges that companies may face. The alliance is expected to support key industrial sectors required for rebuilding infrastructure and essential services in Libya and Iraq, both of which offer promising investment opportunities.
The Egyptian government has been actively promoting economic cooperation with Libya, particularly in post-war reconstruction. The involvement of Egyptian companies in Libya’s rebuilding process aligns with broader regional economic integration efforts.
In January, Mohamed El Beheiry, chairman of the Arab Cooperation Committee at FEI, announced that several Egyptian firms had agreed to establish a joint-stock company dedicated to investing in Libya. Speaking to Al Arabiya Net, El Beheiry noted that the new company will focus on three sectors: industry, trade, and services. Additionally, negotiations are ongoing with Libyan authorities to develop two new industrial zones to facilitate business growth and investment.
The initiative reflects Egypt’s broader strategy to expand its industrial footprint in the region while playing a significant role in the reconstruction of conflict-affected Arab nations.
