Egyptian-Libyan Chamber postpones reconstruction projects in Libya after December elections

Egyptian-Libyan Chamber postpones reconstruction projects in Libya after December elections

August 22, 2021 - 14:30
Posted in:
Written By: LibyaMohammed

The head of the Egyptian-Libyan Chamber, Nasser Bayan, has confirmed the postponement of negotiations with Libyan officials regarding the participation of Egyptian companies in the reconstruction of Libya, after the Libyan presidential elections.

In a statement to the Akhbar Al-Youm newspaper, Bayan considered that the participation of Egyptian companies in the reconstruction process depends on the stability of the political situation in Libya following the holding of the presidential elections and the formation of a new government.

He also added that Egyptian companies face severe competition from their counterparts in Tunisia and Turkey in the reconstruction file, but Libyan investors prefer partnership with Egyptian businessmen, as he put it.

“Egyptian companies and workers will have priority in the reconstruction operations in Libya, as they have sufficient experience, and it is expected that they will acquire 25% of the reconstruction projects, through partnership with their Libyan counterparts”, Bayan said.