Misrata is working to adhere to environmental, social and governance (ESG) guidelines across different sectors to improve its business standards, sophistication and alignment with other trading centres. Although itis located on a coastal oasis and above an underground water table, the city and its surrounding area are vulnerable to climate change. At the national level, Libya has progress…
The free zone, which forms part of the north-south trade axis between Europe and Africa, aims to attract businesses through fiscal incentives, including exemptions from personal and corporate income tax, along with Customs duties or taxes on imports and exports. The zone is home to some of the country’s leading financial institutions, such as Jumhouria Bank, which is Libya’s largest, and the Libyan…
The government has a number of mechanisms to attract foreign investment, including the Libyan Investment Authority (LIA). Established in 2006, the LIA is the country’s sovereign wealth fund and is responsible for managing investment in a diversified range of assets, with a valuation of $68.4bn in 2019. That same year, the LIA adopted a new strategy, signalling its intent to diversify its…
Libya is taking steps to diversify its economy and create new business opportunities by exploring the potential of its shipping and manufacturing industries. The country’s long Mediterranean coastline and ports, including Tripoli, Benghazi and Misrata, make it a strategic nexus for the shipping industry. The government is partnering with private investors to modernise and expand the ports, increasing…
This period also saw total exports of goods and services drop sharply from $49.9bn in 2010 to $18.4bn in 2011, and subsequent unrest coupled with the Covid-19 pandemic has prevented the country from reaching consistently high trade volumes, though total exports recovered to $30.8bn in 2021. Nonetheless, well-established trade links with Europe have consolidated Italy as the country’s main trading…
Trade has played a significant role in Libya’s economy since the early 2000s, although it faced significant challenges due to economic and trade sanctions imposed by Western governments prior to the revolution. The outbreak of the civil war in 2011 had a detrimental impact on economic growth. However, in recent years there has been a modest resurgence in trade, particularly as stability…
Libyan manufacturing historically focused on processing domestic crops, livestock products and handicrafts. Benghazi and Tripoli were the country’s primary centres of industry, with Italians owning a significant share of many enterprises. After the 1969 revolution the government reconfigured its industrial policy to gain control over sensitive and large-scale production and reduce foreign influence.…
MISRATA MUNICIPALITY E: contact@misrata.gov.ly Website: http://Misrata.gov.ly Location: (32.3750258, 15.0909042) MISRATA CHAMBER OF COMMERCE, INDUSTRY & AGRICULTURE The chamber was founded in 1991 and has an extensive membership of over 30,000 associates, representing sectors such as commerce, industry, services and agriculture. E: info@mcci.ly Website: www.mcci.ly/en Location: (32.3681909,…
VISA Travellers planning to visit Misrata, Libya must obtain a visa before their arrival. It is essential to check the specific visa requirements based on one’s nationality and the purpose of the visit. Apply for the visa well in advance to ensure smooth entry to the country and recognise that travel authorisation received from authorities in western Libya will not be acceptable for travel to eastern…
ALMASA HOTEL 1 T: +218 91 211 8997 Mobile: +218 91 342 4000 or +218 91 342 3000 E: almasa_hotel@yahoo.com Website: www.facebook.com/almasa.hotel.libya/ Location: Tripoli Street behind the Aladkhar Bank, Misrata Rooms: 90 suites with single and double rooms, studio, small and large apartment options. Business & Conference Facilities: Meeting halls and conference rooms available. Health & Leisure…
