Doha – Libyan Minister of Economy and Trade Suhail Bousheha said that Libya’s average annual development spending over the past four years has reached about $10 billion. He noted these funds have been allocated for infrastructure development and for improving opportunities for growth and investment.
Bousheha made his remarks during the World Investment Forum 2026, organized by the United Nations Conference on Trade and Development in Doha. The event was attended by Mustafa Manaa, head of the executive team for government initiatives at the Prime Minister’s Office, Ali Mahmoud, chairman of the Libyan Investment Authority, and Mohamed Abu Halaqa, director general for government communications, along with ministers, officials, and representatives of international economic and investment organizations.
Bousheha emphasized the strategic importance of Libya, which holds the largest proven oil reserves in Africa. He said the country’s resources are vital for global energy security and supply stability. He stressed that the government’s vision goes beyond simply exporting resources. Instead, it aims to transform these resources into productive investments, added value, and sustainable economic diversification.
The minister explained that the Government of National Unity seeks to move from economic recovery to economic development. It aims to improve the business environment, strengthen regional and international integration, attract quality investments, and expand partnerships with global companies and institutions.
He highlighted that the yearly development spending of roughly $10 billion in the last four years is targeted at infrastructure development and stimulating growth. He said this spending should be seen as an investment in the Libyan economy’s ability to attract projects, improve trade efficiency, and increase the private sector’s contribution.
Bousheha added that new initiatives and partnerships with major international companies starting in 2026 reflect Libya’s efforts to enhance its position on the global investment map. These steps build on the country’s economic potential to open new avenues for cooperation.
He concluded by saying Libya’s resources and strategic location offer opportunities for real investments and partnerships, which would help diversify the economy and strengthen its global connections. This, he noted, would support sustainable development and boost growth prospects.