Prominent Libyan businessman, Ahmed Al-Ghazali, has expressed optimism about Libya’s economic prospects, saying the country is on the cusp of a promising new economic era.
His remarks come as Libya hosts the Libya Energy and Economy Summit in Tripoli this week, drawing interest from global energy companies and leaders across Libya’s political spectrum.
“The whole world is watching closely, waiting for the moment when Libya’s immense untapped resource potential will be unlocked for investment,” Al-Ghazali said in an interview on the sidelines of the summit.
Al-Ghazali, local partner of the international firm Energy Capital & Power and head of the American Chamber of Commerce in Libya, touted Libya’s vast oil, gas and solar energy resources as assets that position the country as an attractive destination when it comes to foreign direct investments. investment.
He said the acceleration of the government’s policy initiatives aimed at economic growth, combined with thriving public-private sector cooperation, signals that Libya is preparing to enter a new phase of promising development.
Analysts agree that the realization of Libya’s economic promise depends largely on expanding energy production and creating a workable framework for external investment – goals that the Libyan summit aims to advance. However, political stability remains crucial.
Al-Ghazali concluded by predicting that unlocking Libya’s economic promise would “bring prosperity to its people and contribute to regional and international stability.”
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