São Paulo – On opposite route from the international financial crisis, the economy of Libya offers opportunities in several sectors to international companies. Brazilians who want to do business in the country, however, should hurry, as companies in other nations are already taking over the space as suppliers of goods and services.
This was the opinion of Arab Brazilian Chamber of Commerce president Salim Taufic Schahin, heard by authorities, directors of state-owned companies and businessmen with whom he spoke during the his two-day visit to the Arab country in North Africa late last week. "The doors into Libya are open, but time is running out," said Schahin, on recalling his talks with the Libyan minister of Infrastructure, Abuzeid Dorda.
Boosted by oil revenues in the good years, before the price of the commodity started falling, in July 2008, the country is seeking to recover the time lost during the economic embargo the country suffered during the 1990s, and is investing heavily in infrastructure, real estate development and the tourism sector.
Dorda called for Brazilian companies in all sectors to be called to enter Libya. As examples he mentioned the direct import of products like coffee, which is often negotiated by third parties in Europe.
According to Schahin, to the Libyans the presence of Brazilian companies is still shy, despite companies like Petrobras, Odebrecht and Queiroz Galvão having business in the nation. There is, according to him, goodwill in Libya in negotiating with companies in Brazil, but they must go there to learn about the opportunities, to deal directly with local businessmen and to participate in tenders that have been taking place.
Apart from public works in the area of infrastructure, the country offers possibilities in sectors like real estate development, including housing projects, shopping centres, schools and hospitals – and supply of building material, according to the reports of the Libyans to Schahin. Libya needs inputs like steel and cement and seeks the establishment of joint ventures with international companies that operate in these sectors.
The president of the Federation of Chambers of Trade and Industry of Libya, Jumaa Elosta, said to Schahin that he wants to improve contacts with the Arab Brazilian Chamber to further explore business opportunities existing between both countries. Elosta stated, for example, that there is a project for implementation of a sugar refinery in the country and wants support to find companies interested in the enterprise.
Schahin and the presidential advisor at the Arab Brazilian Chamber, Zein Said, also met with executives at the National Oil Corporation (NOC), Faraj Saïd (vice-president) and Saleh Rahuma (international relations director) and with the director general of the Libyan Investment Company, Hussein Al Darrat.
The also participated in the opening of Tripoli International Fair, on the 2nd, where the Arab Brazilian Chamber had a stand.
*Translated by Mark Ament
