Libya’s PIB to announce new investment opportunities at LIS 2017

The Economy of Libya depends primarily upon revenues from the petroleum sector, which contributes practically all export earnings and over half of GDP
Louai Bensasi, Managing Director of
Libyan Privatisation & Investment Board

Louai Bensasi, the Chairman of the Libya Privatization and Investment Board shares some exclusive insights on what to expect at the Libya Investment Summit 2017!

  1. You recently requested that the dates for the Libya Investment Summit be moved to 9-11 May 2017. Could you please explain the reasoning behind this?

The reason for the change of date is to ensure that the highest and most appropriate delegation from Libya is able to attend the summit, as the April dates had presented certain challenges. Shifting the event to May allows for a very successful event for all involved.

  1. Why was Istanbul chosen as the venue for the event?

Istanbul is a convenient and accessible meeting point for international investors, and moreover, it is less challenging for Libyans to obtain a Turkish visa. This ensures that as many interested investors and high-level Libyan officials can attend the summit without issue.

  1. The Libya Investment Summit has many excellent speakers presenting at the event. However, many attendees are keen to meet the NOC; will Libya’s NOC be at LIS 2017? 

We have received verbal confirmation of the NOC being present at LIS 2017, and are currently awaiting their confirmation as to which NOC leaders and experts will be represented. Day 2 of the summit has an entire stream focussed exclusively on oil and gas opportunities within Libya

  1. The chairman of GECOL will be present at the event. What sorts of partnership opportunities are available with GECOL? 

GECOL will be outlining partnership opportunities to assist in reducing the 2000 MW shortage Libya presently faces. In addition, GECOL will be outlining their plans to fast track 1000 MW of extra capacity in the coming 9 months and how international companies can be involved.

  1. What sort of new business opportunities will you be unveiling at the event?

We anticipate 20-30 specific new investment opportunities to be unveiled at the summit across multiple sectors.

  1. Where does the Libya Investment Summit fit into Libya’s overall political landscape as it is today?

The Libya Investment Summit is designed to benefit all Libyans and to examine commercial and technical opportunities and questions, rather than geopolitical ones. In attendance is the leadership of many of Libya’s key national industries, such as GECOL, ODAC, NOC and many others. As the body formed under the terms of the Libyan Political Agreement the Chairman of the Presidential Council has also been invited, along with the Chairman of the House of Representatives, as the legislative body of Libya.

  1. What is the typical profile of attendees at this stage?

We have been delighted to see such great interest for this summit. Attendees are generally of a very senior level and coming from all corners of the world. Particularly well represented are the construction, engineering, hydrocarbon, and banking sectors.

  1. Which new projects and opportunities do you anticipate releasing at the summit?

With participation from the highest levels of the NOC, GECOL, OPDAC, the Central Bank and many others we will be announcing details of 20-30 projects available for investment and partnerships – we hope that participants to the summit will be able to help develop these with us.

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