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Libya Herald
20 hours ago
- Business
- Libya Herald
Qatari and Saudi companies explore investment opportunities in Sirte Free Zone
Sirte Free Zone revealed last Thursday (17 July) that it had received a delegation representing international companies from Qatar and Saudi Arabia, including Qatar's Power International Holding and Saudi Arabia's Azhar Group, on an official visit aimed at discussing investment opportunities available at the free zone port and its administrative headquarters. The visiting delegation held an extensive meeting with the departments of the free zone, during which the management team gave a detailed presentation on the competitive advantages of the zone, and the most prominent strategic projects under implementation, foremost of which is the SSS international road project. The region's distinctive geographical location in central Libya was also highlighted, making it an ideal transit point to African and international markets. The visit also included a field tour to the port of Sirte, during which the delegation was briefed on the ongoing development stages, where they listened to an explanation from the region's engineers on the completion rates and future work plans. Sirt Free Zone said the visit reflects the growing interest of regional and international companies in the promising opportunities offered by Sirte Free Zone, as part of a broader trend to strengthen international partnership and stimulate the national economy by attracting quality and sustainable investments. . Sirte Free Zone discusses port development and infrastructure projects with China Harbor Engineering Company Sirte Free Zone Port receives first ship after a hiatus of more than 10-years Sirte Free Zone discusses 'Smart Port' project with China's Huawei Sirte Free Zone meets Oman Chamber of Commerce at Oman Agrofood 2024 Sirte Commercial Port Free Zone launched by National Development Agency Egyptian dredger arrives in Sirte – starts dredging work in various marine projects Tags: investment investmentsQatar QatariSaudiSirte free zone
Libya Review
4 days ago
- Business
- Libya Review
Gulf Companies Consider Libya's Sirte Port Expansion Plans
Qatari and Saudi companies are exploring investment opportunities in the Sirte Free Zone, following an official visit by a delegation of international business leaders — including representatives from Qatar's Power International Holding and Saudi Arabia's Azhar Group. The delegation held an extended meeting with the Free Zone's administration, where they were briefed on major strategic projects currently underway. Chief among them is the international SSS Road Project, along with the zone's competitive advantages — most notably its strategic location in central Libya, positioning Sirte as an ideal transit hub for African and global markets. Delegation Tours Sirte Port Development Site The delegation also visited Sirte Port, inspecting ongoing development work and hearing from project engineers about current completion levels and future plans to upgrade the port's infrastructure and boost its operational capacity. This visit highlights the growing interest of Gulf and international investors in the Sirte Free Zone and its potential for high-impact investments. The Free Zone authority continues to promote sustainable economic partnerships that can contribute to Libya's long-term growth and post-conflict recovery. With its central position and expanding infrastructure, Sirte is rapidly emerging as a strategic gateway for trade and investment between North Africa and the wider global economy. Libya has been in chaos since a NATO-backed uprising toppled longtime leader Muammar Gaddafi in 2011. The county has for years been split between rival administrations. Libya's economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya's economy. The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions. The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition. Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges. Tags: GulflibyaQatarSaudi ArabiaSirte
