Benghazi – Benghazi hosted the annual forum for investment promotion and privatization affairs. This year’s forum was held under the slogan ‘Towards Effective Investment for Sustainable Development’. It saw broad participation from ministers and officials. A selection of local and international businessmen and investors also attended. This step reflects a growing trend. It aims to stimulate the national economy. It also enhances integration between the public and private sectors.
This forum’s organization is part of efforts. These efforts aim to restart the investment engine in Libya. It creates a dialogue platform. This platform brings together decision-makers and investors. It opens the door for exchanging views on challenges and opportunities. This contributes to building a more stable economic environment. It also supports an economy capable of growth.
Nasser Najm is the Chairman of the General Authority for Investment Promotion and Privatization Affairs. He affirmed that this event is a crucial milestone. It is part of the Authority’s strategy. This strategy aims to improve the investment climate. It also seeks to create suitable conditions for attracting capital. This includes both local and foreign funds. He explained that the Authority is developing its regulatory and procedural tools. These tools align with international best practices. This strengthens investor confidence in the Libyan market.
Najm noted that economic development starts with an innovative idea. This idea transforms into a viable project. It then becomes a tangible reality. This reality contributes to supporting the national economy. He emphasized the need to simplify administrative procedures. Bureaucracy must be reduced. A clear legal and regulatory environment must be provided. This encourages more investment. It also ensures investment sustainability.
Mahmoud Al-Maawaj is the Director of Investment Management at the Authority. He explained that the forum’s eighth edition focused on a specific goal. This goal was to highlight the relative improvement in Libya’s investment sector. He noted a significant increase in the number of investors. Licenses were also granted for several new projects. These projects are in various sectors. This reflects positive indicators of a gradual recovery in the investment climate.
Al-Maawaj added that the forum saw the launch of a new electronic platform. This platform serves investors. It aims to simplify procedures. It will expedite transaction completion. It will also reduce administrative complexities. This is part of the shift towards digitalization. It also enhances transparency. During the events, a detailed report was presented. This report covered the Authority’s performance in the past period. It included data on investment volume. It also covered the number of implemented projects. The report detailed the level of services provided to investors.
The forum also saw the attendance of representatives. These representatives were from relevant government institutions and bodies. They included the Passports and Nationality Authority. The Customs Authority and the Ministry of Labor were also present. This step reflects a trend towards strengthening institutional integration. It aims to provide a comprehensive package of services. These services facilitate investors’ business operations. They also overcome potential obstacles.
This forum is one of the most prominent economic events. Through it, the Authority seeks to promote investment opportunities in Libya. It also aims to build a positive image of the investment environment. This aligns with current economic challenges. It supports achieving sustainable development. This development is based on economic diversification. It reduces reliance on traditional resources.