City Profile
From The Report: Misrata 2024
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The city and district of Misrata, Libya’s third-largest urban centre, is situated on the Mediterranean coast roughly 200km east of Tripoli and 800km west of Benghazi. As the single largest port of entry for goods arriving into the country, Misrata is viewed as the trade capital of Libya as well as the country’s business capital, particularly in terms of commodities trading between other cities in the Mediterranean. The engine of Misrata’s economic activity is the seaport in the Misurata Free Zone, which both manages and oversees its operations. Established in 1978, the port is Libya’s largest, handling some 385,000 containers in 2019 alone. The diverse nature of the goods travelling through its facilities – foodstuffs, livestock, and industrial and petrochemical products, among others – is expected to be an important component in Misrata’s economic diversification.

This chapter contains interviews with Mahmoud Al Sougatri, Mayor of Misrata; Hussein Mohamed Altaher Issa, CEO, Aletah Group; and Fathi Amin Al Turki, Chairman, Misrata Chamber of Commerce.

Articles from this Chapter

Overview

Economic centre:
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The city and district of Misrata, Libya’s third-largest urban centre, is situated on the Mediterranean coast roughly 200km east of Tripoli and 800km west of Benghazi. As the single largest port of entry for goods arriving into the country, Misrata has long had a reputation for being the trade capital of Libya. It has historically been regarded as the country’s business capital, particularly in terms of commodities trading between other cities in the Mediterranean. Similar to many sites situated along the coast of North Africa, the roots of human settlement in Misrata can be traced as far back as the Phoenician and Carthaginian eras. During…

Analysis

Trade and transport:
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The city’s location has been advantageous for trade and transport throughout its history, and the port serves as a vital gateway for imports and exports, facilitating trade connections between the city, other parts of Libya and countries situated along the Mediterranean Sea. Misrata’s climate is classified as Mediterranean, meaning it is characterised by hot, dry summers and mild, wet winters. The local climate is influenced by the city’s proximity to the sea, and it experiences relatively moderate temperatures compared to further inland. Summers are typically hot and dry, with average temperatures of above 30° C (86° F), while…

Analysis

Competitive advantages:
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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 Foreign Bank, in which the Central Bank of Libya has a 100% stake. Misrata has a skilled and industrious labour force that is playing a pivotal role in driving development. Educational institutions, such as Misurata University and other technical…

Interview

Path to progress: Mahmoud Al Sougatri, Mayor of Misrata
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Interview:Mahmoud Al Sougatri Which factors are contributing to Misrata’s economic revival, and what is the resulting impact on Libya’s broader economic expansion? MAHMOUDAL SOUGATRI: Misrata is recovering, supported by growing optimism from the new businesses that are emerging in the city, as well as the ongoing work to rebuild and strengthen the infrastructure that supports all of this activity. At the same time, the manufacturing base is getting stronger, which contributes to a…

Interview

Dynamic growth: Fathi Amin Al Turki, Chairman, Misrata Chamber of Commerce
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Interview:Fathi Amin Al Turki How has Misrata’s private sector recovered in the wake of the Covid-19 pandemic and recent economic uncertainty in the country? FATHI AMIN AL TURKI: Although the region’s recovery has been a gradual process, it has been bolstered by the determination, adaptability and resilience of local businesses. The pandemic underscored the significance of digital transformation and innovation in various industries, prompting Misrata’s private sector to embrace technology.…

Analysis

Foreign interest:
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Although Libya’s efforts to attract investment are overseen from the capital, Tripoli, the Misrata municipal council, business associations and companies operating in the private sector are helping bring foreign direct investment into the city and wider district. The Misurata Free Zone (MFZ) is the city’s most prominent magnet for foreign investment. The zone offers and promotes a number of financial incentives, such as no Customs duties, taxes or hidden charges on imports and exports, as…

Interview

Prime location: Hussein Mohamed Altaher Issa, CEO, Aletah Group
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Interview:Hussein Mohamed Altaher Issa Where do you see economic shifts following the Covid-19 pandemic and other global uncertainties? HUSSEIN MOHAMED ALTAHER ISSA: The pandemic and recent instability have led to longer-term economic shifts in Libya and around the world. Previously, Libya’s economy relied primarily on oil. However, after the revolution and subsequent changes in government, people have begun to embrace innovative thinking. Recognising the impermanence of oil as the sole source…

Analysis

New opportunities:
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Public-private partnerships (PPPs) have been used in a number of different forms to help develop public works or infrastructure projects when funding for them is either limited or unavailable. By implementing PPPfocused policies, the government in Misrata hopes to leverage the expertise, resources and efficiency of the private sector to accelerate infrastructure development, attract investment and drive economic growth, while simultaneously ensuring that such projects are closely aligned with the government’s broader goals. One particular example of the PPP model was seen during the expansion of the city’s international airport,…

Analysis

Greener businesses:
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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 to make on the environmental front. A UN climate change fact sheet published in October 2022 stated…