imported 2024-03-17 17:43:07
There was a noticeable and positive buzz amongst delegates attending a business networking evening in Malta last week entitled ‘The Past, Present and Future of Malta – Libya Business Relations’.
Libya Africa Investment Portfolio (“LAP”) in the High Court, London. CMS carried out management services for LAP in 2009/10. In August 2010, LAP lawfully ended the engagement, disappointed with CMS’s performance.
Indian engineer giant Punj Lloyd recently signed a half-billion dollar deal for large-scale infrastructure construction in Zliten.
About 60% of LAP’s portfolio lies in Africa. “Being a future generation fund means that we invest for the long term; when we enter a region we remain there for a long time. We add value to the society in the areas that we enter,” explains Ahmed A. Kashadah, the fund’s managing director.
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Libya Africa Investment Portfolio (LAP) Focusing on Developing Human Resources
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Doing business in Libya: General business outlook
Part of the Libyan business picture involves—among others—abound investments, with the state-owned Libya Africa Investment Portfolio (LAP) having an estimated $5 billion in assets, thought the fair value amount is still being estimated.
Suleiman E. Alazzabi, Managing Director of National Commercial Bank (NCB)
National Commercial Bank expects 5 to 10% growth of the Libyan banking sector in 2013/2014. As a part of their strategy, National Commercial Bank plans to establish a financial leasing company that will merge the traditional commercial side with the Islamic one, and an IT company. The Bank’s vision is to be the market leader in terms of transparency, quality and quantity of products. The MD is sure the National Commercial Bank will differentiate from other Libyan banks in terms of services and transparency during 2014/2015.
Mohamed Raied, Chairman of Al-Naseem Food Industries
“Everyone knows it was difficult for 40 years, especially difficult for the private sector in Libya. I had started with a food stuff trade in 1989 on a small scale with one shop in Misrata, then had an ice cream factory in 1993 and first I had only a basic ice cream machine that would produce 2,000 pieces/cups,” recalls Mohamed Raied. Today, Al Naseem is trying to be number one in Libya in producing dairy products.
Khaled Al Bakory, CEO of Privatization and Investment Board (PIB)
Most of companies from all over the world are concentrating on investments in the oil sector of Libya. However, the country has, according to Al Bakory, other attractive investment opportunities, particularly in the health and transportation sector. The aim of Privatization & Investment Board of Libya has been to attract variety of investment projects, including tourism and transportation.
