Algerian-Libyan Economic Forum: Algerian entrepreneurs called to contribute to Libyan cities’ reconstruction

29/05/2021

The Libyan delegation taking part in the Algerian-Libyan Economic Forum, which opened Saturday in Algiers, invited the Algerian entrepreneurs of the public and private sectors to contribute to the reconstruction of the Libyan cities, at a standstill because of the crisis in this country by participating in the execution of housing projects, pleading for the intensification of trading and investments between the two countries.

The Algerian entrepreneurs and investors who will contribute to the completion of the housing programs, at a standstill since 2011 because of the crisis in Libya, will benefit from important facilities, notably at the fiscal level, according to the members of the Libyan delegation.

After expressing the wish to benefit from the Algerian experience in the management of natural risks, the Libyan side called for the reactivation of the conventions concluded between the two countries in order to facilitate the movement of people and goods and to encourage the investments for the establishment of a strong and lasting economic cooperation.

In this regard, the members of the Libyan delegation called on the Algerian businessmen to heavily invest in Libya and to work in partnership with their Libyan counterparts in fields like energy, processing industry and cement industry.

A top official at the Libyan Ministry of Housing said that his country banks on a fruitful bilateral cooperation in the field of building and infrastructures.

Pleading in favor of increasing the Algerian exports of building materials to Libya, he invited the Algerian companies to invest in the production of building materials locally in partnership with Libyan companies.

“Libya will make sure to create a good investment climate for the Algerian investors, in order to take advantage of their experience and expertise in terms of manufacturing building products with high-quality local raw products,” affirmed the Libyan official.

For his part, the head of the Libyan general authority for the privatization and promotion of investment Djamel Lemouchi underlined that Algeria has made a progress on the industrial field, notably cement industry and manufacturing industries, calling to facilitate the granting of authorizations for the Libyan businessmen for the establishment of partnerships with the Algerian side in order to develop these industries locally.