In an crucial step towards strengthening infrastructure and revitalizing transit trade in libya,the Libya Africa Investment portfolio held an critically important meeting with the Ministry of Transportation last Tuesday,to discuss ways to implement the two strategic transit road projects (Misrata – Tamanhint – Agadez,Nigeria,and benghazi – Kufra – sudan).
This meeting comes in implementation of Cabinet Resolution No. 535 of 2024, which authorized the portfolio to contract with international expert houses to prepare feasibility studies for the two projects, in planning for offering them for investment according to the “build – operate – deliver” system or through a partnership with specialized companies.
The attendees stressed the importance of these two projects in promoting economic advancement, linking Libya with neighboring countries, and stimulating the regional trade movement.
These projects are expected to contribute to creating new job opportunities, increasing revenues, and improving the standard of living in libya.
The Board of Directors of the Libya Africa Investment Portfolio is currently chaired by Mustafa abu Nas, former minister of Economy, who was appointed by the Prime Minister of the National Unity Government, Abdul Hamid Dabaiba, in order to implement decisive reforms in the Libya africa Portfolio to achieve progress towards the goals of economic and investment sustainability and contribute to deepening Libya’s impact and role in the African scene.
The Libya Africa Investment Portfolio was established in 2006. The portfolio works in the field of international investment, searching for investment opportunities and building a diversified and balanced portfolio that includes companies operating in various industries and regions, in addition to achieving long-term and sustainable returns.
Last updated: December 7, 2024 – 01:19
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What are the expected economic benefits of the Misrata – Tamanhint – Agadez and Benghazi – Kufra – Sudan transit road projects in Libya?
Interview with Dr. Ahmed El-Mansoori: Enhancing Libya’s Infrastructure and Trade through Strategic Transit Projects
Editor, Time.news: We are joined today by Dr. Ahmed El-Mansoori, an expert in transportation infrastructure and economic advancement in North Africa. Recently, the Libya Africa Investment Portfolio held a pivotal meeting with the Ministry of Transportation to discuss two notable transit road projects. Dr. El-Mansoori, can you shed some light on the importance of these projects?
Dr. El-Mansoori: Absolutely! The Misrata – Tamanhint - Agadez and Benghazi – Kufra – Sudan transit road projects are crucial for Libya’s economic growth and regional integration. These initiatives, authorized under Cabinet Resolution no. 535 of 2024,aim to revitalize trade routes and strengthen Libya’s connections with neighboring countries. By implementing these transit roads, Libya could stimulate the regional trade movement and enhance its pivotal role in African markets.
Editor, Time.news: What are the broader implications of these projects for Libya’s economy?
Dr. El-Mansoori: The implications are quiet significant. Firstly, they’re expected to create new job opportunities, which is essential for improving the standard of living in Libya. Additionally, investing in infrastructure will attract foreign investment, which is vital for diversifying the economy. Furthermore, with increased connectivity, local businesses will have better access to international markets, driving economic advancement and competitiveness.
Editor, Time.news: The Libya Africa Investment Portfolio has engaged international expert houses for feasibility studies. Why is this step critical?
Dr.El-Mansoori: Engaging international experts is key to ensuring that these projects are planned and implemented effectively. They bring in best practices and advanced methodologies that can significantly enhance the feasibility and sustainability of such large-scale projects. These studies will guide Libya in choosing the right investment model, whether through a “build – operate - deliver” system or public-private partnerships. this strategic planning phase establishes a strong foundation for long-term success and impact.
Editor,time.news: Can you elaborate on the key roles of the Board of Directors and its current chair, Mustafa Abu Nas?
Dr. El-Mansoori: Mustafa Abu Nas, the current chairman and former minister of Economy, leads the Board of Directors with a vision for economic reform and investment sustainability. His experience in the government and economic sectors is invaluable as the Board navigates the challenges and opportunities within the investment landscape.This leadership is crucial in driving forward reforms that enhance Libya’s impact in the African market.
Editor, Time.news: What practical advice woudl you give to investors and stakeholders interested in these projects?
dr. El-Mansoori: For investors, it’s significant to stay informed and engaged with the feasibility studies and project developments. Understanding the risks and potential returns is essential for making sound investment decisions. Additionally,stakeholders should consider collaborating with local entities for deeper insights into the Libyan market. Building relationships with the Ministry of Transportation and the Libya Africa Investment Portfolio can provide competitive advantages and clearer pathways for participation.
Editor, Time.news: Lastly, how do you foresee the future of Libya’s infrastructure and its role in regional trade?
Dr. El-Mansoori: I am optimistic about the future. If these projects are implemented successfully, they could transform Libya into a central hub for trade in North Africa. Enhanced infrastructure will not only facilitate regional trade but will also create a ripple effect of economic benefits across various sectors. It’s about creating a sustainable economic ecosystem that can withstand global fluctuations and provide lasting prosperity for the Libyan people.
editor, Time.news: Thank you, Dr. El-Mansoori, for your insights into these vital projects. We look forward to seeing how they unfold and positively impact Libya’s economy and infrastructure.
Dr. El-Mansoori: Thank you for having me. It’s an exciting time for Libya, and I appreciate the opportunity to discuss these important developments.