São Paulo – Libya should promote, between March 30th and 31st, The Libya Business & Investment Summit 2010, a conference to show its projects and economic potential in an attempt to attract foreign investors. The meeting should take place in Tripoli, the country capital, at Radisson Blu Hotel, organised by the Euroconvention Conferences, an independent organisation, and the Privatisation and Investment Board of the country.
For two days, six panels should cover themes like the economy and finances of Libya, the country’s economic relations with the European Union (EU) and with Africa, investment opportunities in industry and agriculture, local construction programs, the part of financial institutions in the country, the current status of transportation, telecommunications and information technology in Libya and the perspectives for the tourism sector.
The conference should include authorities like the minister of Economy, Trade and Investment, Mohamed Hweji, the governor of the Libyan Central Bank, Farhat Banghdara, the president of the National Oil Company, Shukri Ghanem, the executive director of the Libyan Investment Autority, Mohamed Layas, and the director general of the Economic and Social Development Fund, Hamed Houderj, among others.
The general theme of the meeting is “A land of unexplored challenges and opportunities”. According to information disclosed by the organisers, Libya needs more technology and international experience to expand and improve its infrastructure. One of the great projects is the Great Man-Made River, a network of water pipelines, considered the largest irrigation project in the world. Together, building projects in Libya total US$ 200 billion.
The government of Libya plans to produce three million barrels of oil a day by 2015. Revenues from the sector, according to the organisers of the conference, should guarantee a high level of investment in the country. Libya currently produces around two million barrels of oil a day.
*Translated by Mark Ament
