Dependent on oil, Libya needs basic infrastructure development as well as investment in property, consumer industries and telecoms after a fifth of transmitter stations were destroyed in the war. It will also need foreign investment and expertise to increase oil and gas production.
Its tourism industry is largely unexplored, despite stretches of beaches and well-preserved Roman ruins.
Various fairs drawing international businesses have allowed companies to cultivate relations. Industry Minister Mahmoud Al-Ftise said there were plans to increase privatisations, and Libya was interested in more foreign investment.
"We would like to have a participation from foreign and local private business so we can see results because we would like to have competition among the business," he told Reuters.
(Source: Reuters)
