Libya’s Investment Minister of the Parliament-designate government, Ali Al-Saidi, has announced the country’s adoption of blue economy projects as part of its economic development strategy. The announcement came during an international workshop titled “Enhancing Investment Mechanisms in Libya’s Blue Economy”, which was attended by international and regional stakeholders.
The workshop explored various aspects of blue economy investments and their link to sustainable development, particularly in marine resources, fisheries, and coastal infrastructure. Libya has been a 5+5 Dialogue member since 2018, reflecting its commitment to fostering regional economic cooperation in the Mediterranean.
Minister Al-Saidi urged government ministries, research institutions, and economic bodies to engage in discussions and contribute ideas to increase Libya’s economic revenue while supporting sustainable growth. He highlighted that investing in maritime resources could unlock new economic opportunities and strengthen Libya’s position in the regional and global economy.
The event featured participation from the European Union’s WestMED Initiative, along with a delegation from Italy to explore potential cooperation with Libya’s Ministry of Investment. Additionally, representatives from Tunisia, Malta, Portugal, Spain, and Mauritania joined the discussions via video conference.
One of the key outcomes of the workshop was an agreement to hold a follow-up meeting between Minister Al-Saidi and the Italian delegation to discuss collaboration mechanisms between Libya and other WestMED member states. These include France, Italy, Portugal, Spain, Malta, Algeria, Libya, Mauritania, Morocco, and Tunisia.
It was also announced that a second workshop will be organised after Ramadan to further develop investment strategies in Libya’s blue economy sector.
