The downside to this is the smuggling which has also boomed since the end of last year. The state has been unable to impose its authority on the borders and the very lucrative smuggling routes which are the root cause of instability around Libya's borders.
In the future there will be a private sector which has a lot more freedom to operate and a public sector which is slightly dysfunctional and slow in getting going but which will be very well funded. The private sector will become much more important for joint ventures.
All the speakers were optimistic about the future. Libya faces real problems which are manageable and the solutions are lubricated by considerable oil wealth. Libya has always been a relatively high risk market but one with high rewards. Now is the time for foreign companies to make their mark as the business environment can only improve.
(Source: Tripoli Post)
