Dr. Ashraf Badr, Chairman and General Manager of the Libyan Investment Authority (LIA), has affirmed that Libya is making steady progress towards developing a strategic economic partnership with Egypt. He indicated that the upcoming phase will witness a new impetus in joint investments between the two nations.
Dr. Badr’s remarks came during his opening speech at the fourth edition of the Libyan-Egyptian Business Forum, held in Alexandria under the theme: “Libya and Egypt towards Integrated Sustainable Development.” The forum was attended by economic officials and business leaders from both countries, organised by the Federation of Egyptian Chambers of Commerce and the General Union of Libyan Chambers of Commerce, Industry, and Agriculture.
Badr clarified that the LIA, under the direct guidance of House of Representatives Speaker, Chancellor Aguila Saleh, aims to make Egypt a pivotal centre for its foreign investments. The LIA is leveraging Egypt’s economic stability and rapid development, which the country is experiencing under the leadership of President Abdel Fattah al-Sisi.
He noted a significant growth in trade volume between the two countries in recent years. Badr anticipates a doubling of cooperation in vital sectors such as agriculture, industry, tourism, and real estate, especially with Egyptian companies’ strong involvement in Libya’s reconstruction projects.
He commended the armed forces’ efforts in securing Libyan cities, particularly in the east, led by Benghazi, which has made it an attractive investment environment. He also highlighted the pivotal role of the Reconstruction Fund in implementing massive national projects under the leadership of Engineer Belgacem Haftar.
Dr. Ashraf Badr stressed that Libyan-Egyptian cooperation is a “strategic choice” dictated by shared interests, a distinct geographical location, and economic integration between the two countries. He expressed hope that this trajectory would form the nucleus for the largest Arab and African partnership in the entire region.
