Nicola Colecchi, President of the Italian–Libyan Chamber of Commerce, said that Libya currently represents an exceptionally attractive environment for the international expansion of Italian small and medium-sized enterprises.
He noted that the country’s reconstruction needs, untapped markets, and growing demand across multiple sectors give Italian companies significant opportunities to operate and invest.
However, he warned that these opportunities remain difficult to fully realize due to the absence of clear regulatory frameworks and reliable financial procedures.
Colecchi explained that while Libya is rich in potential, the lack of legal certainty, transparent rules, and efficient payment mechanisms continues to discourage many Italian companies from taking proactive steps toward entering the market. He stressed that small and medium-sized enterprises, which make up the backbone of Italy’s industrial and export sectors, are particularly sensitive to such risks.
In a statement shared online, Colecchi emphasized that a new roundtable has been launched to address these concerns. The initiative aims to identify the most critical operational challenges facing Italian businesses when engaging with Libyan partners.
The roundtable will work on drafting practical solutions, establishing clear guidelines, and creating standardized procedures that can help ensure safer, more predictable, and more efficient commercial interaction with Libya.
The discussions are expected to focus on several key issues, including contract enforcement, risk management, banking procedures, currency restrictions, and the lack of harmonized legislation across various Libyan institutions. Colecchi highlighted that improving these areas is essential not only for Italian businesses but also for attracting broader international investment into Libya.
He added that Italy has long-standing economic ties with Libya, particularly in the energy, infrastructure, logistics, and services sectors. Strengthening these ties, he said, requires a more stable and transparent business environment that encourages companies to invest and participate in Libya’s reconstruction and development.
Colecchi expressed optimism that the new roundtable will help produce actionable recommendations that facilitate business operations, reduce risk, and allow Italian companies to expand confidently into the Libyan market. He stressed that unlocking Libya’s potential requires joint efforts, coordinated solutions, and a commitment to improving the legal and administrative landscape for foreign investors.
