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  • 21-05-23

    Libyan-Turkish Business Association Urges Increased Investments in Libya's Idle Industrial Facilities

    (MENAFN) Murtaza Karanfil, the head of the Libyan-Turkish Businessmen Association and also the Turkish Independent Industrialists' and Businessmen's Association (MUSIAD), has called for greater investments in Libya, highlighting the significant number of inactive government-owned industrial facilities from previous eras. Karanfil emphasized that there are currently over 180 such facilities in Libya that remain idle. Some of these facilities, he noted, are in good condition, which has attracted the attention of Turkish businessmen seeking investment opportunities.

    One notable example mentioned by Karanfil is the industrial zone in Tajoura, where the state owns seven facilities. In 1977, a facility was established in this area for the assembly and installation of trucks and pickup trucks. Karanfil highlighted that this particular facility was constructed with state-of-the-art equipment at the time, underscoring its potential for revitalization and utilization.

    Karanfil, accompanied by a delegation from MUSIAD hailing from the central Turkish province of Konya, recently met with Libyan Deputy Prime Minister Ramadan Abu Jinnah. During their visit, they held special meetings with cities in the southern region of the country and the Southern Development Agency. Abu Jinnah extended an invitation to the mayors of the Fezzan region, and the Turkish delegation received a warm welcome, leading to discussions on significant projects.

    Among the topics addressed, the trade route from the south to sub-Saharan Africa was thoroughly evaluated. Karanfil revealed that more than 20 mayors attended the meeting, and the mayor of Marj, situated east of Benghazi, expressed his belief that Libya's development would be intertwined with Turkey.

    Karanfil emphasized that his business association has been operating in Libya for 35 years, contributing to the creation of over 1,500 job opportunities in Turkey. He stressed that Libya holds immense potential for investment, referring to it as a fertile ground for business ventures.

    The Libyan-Turkish Businessmen Association, led by Murtaza Karanfil, is advocating for increased investments in Libya's numerous idle government-owned industrial facilities. The association's recognition of the untapped potential of these facilities, combined with successful discussions with Libyan officials, signals a promising opportunity for economic growth and development in the country. As Libya strives to rebuild and revitalize its industrial sector, partnerships and investments from foreign entities, such as Turkey, may play a pivotal role in unlocking Libya's economic potential and fostering long-term prosperity.

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