Free Trade Zones

Free, economic and logistical zones and transit trade activated in the south |


By Sami Zaptia.

London, June 21, 2021:

Inaugurating the Libyan Exhibition for Food, Preservation and Packaging Supplies yesterday at the Tamenhint Exhibition Center in southern Libya, Economy and Trade Minister Mohamed Hwej announced the need to establish and to activate free zones and transit trade which help to create important investment opportunities in the south.

The food exhibition will run from June 20 to 25 and will include the participation of a number of factories, local businesses, farmers and citizens who own small and medium-sized businesses, exhibiting agricultural and industrial products in addition traditional industries and handicrafts.

The Minister stressed the need to work through an organized mechanism between different sectors to improve the level of services in the region, activate broken down businesses and factories, establish other projects based on the raw materials that abound in the south. of Libya – all within the framework of the government’s efforts to achieve territorial development and economic diversification.

Foundation stone of the economic zones of the South – gateway to Africa?

The exhibition also included the laying of the foundation stone for the establishment of the Southern Economic Zone at Tamenhint, which includes free, industrial, logistical and technical zones for the oil fields. The economic zone will include a free trade zone, which aims to create an international trade platform that would be a gateway to Africa. It also aims to change the region’s economic formula, by diversifying activity and creating direct and indirect jobs.

Office of Privatization and Investment

On the sidelines of the exhibition, the Fezzan Economic Fair was organized, where a visual presentation was made by the southern branch of the Privatization and Investment Office on the real and promising investment opportunities in the region. The presentation also included the challenges and obstacles facing the region, the ways to overcome them and the mechanism for using and exploiting these opportunities in the economic development of the South. It also included the agricultural sector plan to activate local agricultural services and help farmers raise the level and quality of production.