The General Director of the Industrial Research Centre, Al-Sadiq Bashir Al-Naeli, received a delegation from the Libyan-Chinese Joint Economic Chamber on Monday during an official visit aimed at exploring cooperation in localising industry and attracting industrial investments to Libya.
Al-Naeli was joined by Salah Al-Din Al-Turki, Director of the Department of Biological and Mining Research, and Ahmed Al-Helou. A broad meeting was held to discuss Libya’s rich reserves of minerals and industrial resources, and the available opportunities for attracting Chinese manufacturing companies to establish strategic partnerships that would support the Libyan economy.
During the visit, the delegation was briefed on the Centre’s key research efforts, geological maps, and compiled data on the country’s industrial resources. This step reflects the Centre’s ongoing efforts to build a strong knowledge base to inform industrial investment decisions.
According to a statement from the Chamber, the visit aligns with its broader vision to strengthen economic and technological ties with China by creating a conducive environment for modern industry, enabling genuine technology and knowledge transfer, and supporting Libya’s sustainable development goals.
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.
