PIB Hosts Investment Projects Forum in Benghazi – Part of Government’s ‘Reviving Life’ Program |

By Sami Zaptia.

London, October 4, 2021:

The Office of Privatization and Investment (East Region Directorate) organized under the auspices of the Ministry of Economy and Trade a forum and celebration for the launch of investment projects under the slogan “Investment knocks on the doors of municipalities” Saturday in Benghazi. It is part of the government’s Reviving Life development program.

Investment projects examined

The forum saw a presentation on the national GDP projects available for investment and promising opportunities in municipalities as well as the announcement of the investment guide platform.

The investment guide platform includes the country’s investment map and the definition of targeted investment projects in all cities along with their data and information. The implementation of 16 investment and service projects, including the private sector, was also announced.

Participants also watched visual presentations of investment projects implemented by local businesses and other targeted projects in the next stage, as well as reviewing a number of entrepreneurial skills experiences. in the investment sector, presenting and discussing the problems and obstacles facing the sector and ways to motivate local and foreign investors in the implementation of investment projects.

GDP President Jamal Al-Nuwaisari stressed that the event is part of the government’s plan to “relive life” and aims to improve communication between GDP, municipalities and the local and foreign private sector in the area of ​​investment. and

This includes the work to develop a unified mechanism in activating the sector and its role in the development of the national economy, the development of local industries, the increase in the level of non-oil exports, and the development and exploitation. natural resources in achieving spatial development, improving the level of services and creating great employment opportunities far from public jobs.

The forum brought together the undersecretary of the Ministry of the Economy for free zone affairs, the undersecretary of the Ministry of Housing and Construction for technical affairs, the president and members of the GDP board. , the Egyptian consul, the Italian consul in Benghazi, the director general of GDP, the directors of the Authority’s branches in the eastern and southern regions, a number of municipal mayors and the Chamber of Commerce, of industry and agriculture in Benghazi, the Libyan Business Council in the Eastern Province, representatives of a number of local and foreign companies and a group of academics, experts and interested parties.

Forum recommendations

The forum concluded with several recommendations, represented by supporting the completion of the Investment Card Platform Project so that it becomes a pioneering electronic platform in promoting applicable investment opportunities in all municipalities. They have been asked to activate investment committees to sort their plans and determine their product and service needs so that they represent a pillar in identifying investment opportunities in them.

It was requested to strengthen the communication between the BIP and the municipalities to disseminate the investment culture among citizens and investors, in addition to forming an economic advisory team to assess the obstacles to investment and their impact. on the attraction of national and foreign investments.

A report will be prepared for transmission to the Minister of Economy and Trade for presentation to the Council of Ministers.

The forum also recommended the need to oblige investment firms to be disciplined in the employment contracts they conclude with employees by registering them with the Ministry of Labor and guaranteeing their rights related to insurance, as well as by selecting several projects distributed to municipalities and entrusting approved boards companies to submit feasibility studies to them.

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