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Released:  17/12/20132013-12-17
Word count:  188

Tripoli, 15 December 2013: Italian exports to Libya have trebled since the revolution and could grow a great deal more, despite current troubles, said an Italian employers’ chief in Rome

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“Libya holds a great deal of potential for Italy at a national level despite the currently bleak situation”, said Aurelio Regina, deputy chairman of the Confederation of Italian Industry (Confindustria).

Speaking to the Rome Chamber of Commerce on Friday, Regina said that Italy had to export to survive and Libya was an important market, where since the Revolution, sales had increased 300 percent, reaching €2.4 billion in 2012.

“We are the main benchmark market for the North African country,’ said Regina, “and almost 23% of Libya’s exports are earmarked for Italy. Of course our businesses need security guarantees, but there are many opportunities for us.”

Italy he said was the major player in Libya’s oil and gas sector where there were concerns over the sharp fall in production. Nevertheless, he said, “ there are opportunities for Italian businesses in renewable energy, agro-industry, construction, logistics, transport, integrated services and infrastructure.”

Regina warned however that in Libya, ”Italy has a very delicate task. Politics and the economy can and must go hand in hand”, he said. Libya was decisive for the security of the entire area but guarantees, stability and development were essential.
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Released:  17/12/20132013-12-17
Word count:  81

Meeting of senior providers and consumers of natural gas.

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The Committee of senior providers and consumers of natural gas and liquid fuel alternative was held at the headquarters of NOC and reviewed the problems and repercussions that stopped production of Sarir plant and the problem that stopped producing Shararafield in supplying Zawia refinery with crude oil and the consequent shortage in the supply of petroleum products for power stations and desalination units.

The need to increase the storage capacity of the power stations and to provide security protection was ascertained.
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Released:  16/12/20132013-12-16
Word count:  689

Libya’s Deputy Health Minister Dr. Ehemed Mohamed Elhemmali’s Delegation from Libya visited Washington on Dec 3 and 4 and had a schedule of meetings with a wide range of world-renowned American hospitals, healthcare equipment and service providers, pharmaceutical companies and Government officials.

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American LibyanChamber of Commerce & Industry
The response to the visit was so strong that many companies could not be accommodated for individual meetings with the Delegation members, and had to be content with attending a large Symposium on Libya’s healthcare sector at the Ronald Reagan World Trade Center on Dec 4, and to have individual discussions with the Deputy Minister and his group after the event.

Meetings for the Delegation, which included Deputy Minister Elhemmali, Dr. Taher Ali Ahmed Abdussalam, CEO of the Medical Supplies Organization, and private Libyan businessmen Mr. Mosbah Ambark Mabrok, Mr. Mohamed Ibrahim Imbarik and Mr. Moussa E Belkany, were arranged and coordinated by Libyan Embassy Health Attaché Dr. Mahmoud Usta Omar, and by the American Libyan Chamber of Commerce & Industry (ALCCI) in Washington.  The focus of the meetings was to learn the most pressing priorities and objectives of the Ministry of Health, and to initiate discussions with various American hospitals, medical equipment suppliers, pharmaceutical companies and others who can offer the very best technology and services for making Libyan Healthcare the best in the region.  

“It was a challenge to reach the right companies with the Deputy Minister arriving right after the Thanksgiving holiday”, said ALCCI Vice Chairman Libyan-American surgeon Dr. Esam Omeish, chief of surgery a at a prominent Virginia hospital, who has visited Libya many times over the past two years.   ”Yet the very strong response clearly shows how much American companies want to be involved in helping Libya rebuild this vital sector”.

As the Deputy Minister explained in the various meetings, it is critical for the Libyan Government to be show definite progress in the healthcare area, which is so vital to the lifestyle and well being of Libya’s population.  In the 1960s Libya’s healthcare system was the envy of the region, but four decades of mismanagement and neglect have put Libya far behind, and progress must be made immediately.   As the world leader in medical and health services, technology and equipment, America can play a key role in making Libyan a center of healthcare excellence for all the Middle East, Africa and Southern Europe.

Typical of the strong response was the 60+ company and government officials attending the Symposium organized by ALCCI and the National Council on US-Arab Relations (NCUSAR) on Dec 4.    The audience’s many key questions clearly showed their interest, and the Delegation member added to their already full counts of business cards from their other meetings with some of the most well known hospitals, Pharma companies and medical equipment suppliers in the USA.  The Delegation has asked the Embassy and ALCCI to work together to follow up on all these meetings, and to get word out to many more American companies, that Libya values these potential partnerships, and wants even more American companies to come as investors and venture partners into the Libyan market.

Another highlight of the visit was their meetings with various Members of the US Congress, and other Government Agencies.   The Deputy Minister was particularly pleased with the very warm and productive meeting with Congressman Keith Ellison of Minnesota, the first Muslim-American elected to Congress; whose District includes some of the top hospitals and medical service and equipment suppliers in the USA.  Congressman Ellison has offered to work with the Embassy and ALCCI to bring a Delegation of American Healthcare companies to Libya next Spring for a Symposium and to meet Ministry Officials and private sector Libyan companies with whom they can form partnerships and other relationships.  ALCCI will be assembling plans for that event, with the Embassy, and will be announcing details after Jan 1.

“Over the next few years”, said ALCCI President Robert Marro, “Libya will spend billions of dollars upgrading and revitalizing its medical sector.  American firms can and should play a key and compelling part in that process.  The ALCCI is working closely with the Libyan Embassy, and with US Agencies like Commerce and State, to ensure that American firms remain in the forefront of this effort”.    

For more information, please contact: Robert J. Marro, President (a.i.) American LibyanChamber of Commerce & Industry Washington, D.C. Tel:  (202) 347-3471  Cell: (703) 309-6726 email:  robert.marro@alcci.org
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Released:  16/12/20132013-12-16
Word count:  415

Tripoli, 15 December 2013: The GNC reports that its Economy, Trade and Industry Committee met on Wednesday 11th December with a number of experts in commercial law in Libya.

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The meeting reviewed a bill presented by the Ministry of Economy on the adoption of the Trade Companies’ law which would enable Libyan citizens to set up companies easily and quickly, and abolish laws imposed by the former regime, and to “enable the youth to engage in trade activities and private sector to contribute in the economic development of Libya”, the GNC reported.

It will be recalled that the Economy Minister Mustafa Abufunas, speaking at a conference in Tripoli on the Shadow Economy last week, revealed that the bill to reform the trade laws had been presented by his Ministry to the GNC. However he had said that due to the “current general situation” in Libya, the GNC had been delayed in passing the reformed laws.

It is worth mentioning that the Economy Minister has been coming in for repeated criticism by the business community for the late reform of the business laws.

At the conference last week, Abufunas had given examples of how the reformed law would help in the business sector. He had mentioned, for example, that if a Libyan or a Libyan company wanted to practice in more than one business activity, they would have to under the current laws form a different company, or a number of companies.

The Minister said that he hoped that this would be changed allowing business people to form companies that can operate in numerous sectors. The Qaddafi era laws also prohibit the naming of a company using the owner’s name. This should be changed, promised the Minister. This applied to both the shareholding and limited liability companies, the Minister explained, which he said should end the practice of the real owners of companies having to list fake partners to satisfy the old laws.

In conclusion, the Minister had assured his audience that the government was convinced that wholesale reform of the economic framework was necessary. He confirmed that his Ministry was working on this through the Ministry of Planning especially with regards to the relationship between the private sector and the state sector.

The Minister assured that he saw a reduced role for the state limited more to an oversight role in economic activity.

It will be interesting to see when a copy of the draft laws becomes public how much of the draft bill presented to the GNC by the government will make it through to the final law and how deep the reforms of the previous Qaddafi era laws are carried out.
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Released:  16/12/20132013-12-16
Word count:  107

A memorandum of understanding stating the restart of three major projects by China in Libya was signed on Saturday.

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Libya’s Economy Minister Mustafa Abufunas said trade between the two countries has totalled around $2.5bn in 2013, noting China’s significance in global trade for the north African nation.

Abufunas added that he has met with the Chinese Ambassador to Libya to discuss the return of the companies who left the country during the 2011 revolution.

The Ministry of Housing and Utilities has signed an agreement with the Chinese Chamber of Commerce to ensure the safe return of the companies re-entering Libya.

Abufunas said the companies will receive benefits for their return, by handing them extra projects to make up for their losses during and after the revolution.
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Released:  13/12/20132013-12-13
Word count:  144

One of the highlights of the Libya International Motor Show has been the launch of the BMW X5 model by the Oasis Motors Libya, the local BMW agent and distributor. Ali Muttawa, General Manager of BMW Libya unveiled the new premium X5 at the show

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Libya independent
BMW has been operating on and off in Libya since 2005, said Muttawa. However, until the Revolution, the market was very difficult, not least because the former regime controlled what type of person drove what type of car and it dictated that the prestigious BMW brand was for a select few insiders.

“Indeed, for Libyans, BMW was the brand of the ex-regime”, explained Teri Hani, BMW Libya’s Marketing Manager, “They were the only ones driving BMW cars. Now, we are turning it around, to make the BMW the car of the people,” she said.

The model range on offer in Libya starts with the BMW 116, costing from LD 30,000 to the X5 at LD 140,000. Finance is available for all models through a Murabaha bank credit, said Hani.

“Now Libya is an open market, “ said Muttawa, “We want BMW vehicles to be affordable to all Libyans.”
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Released:  13/12/20132013-12-13
Word count:  482

The first group of 220 Libyan Army soldiers to be trained by a coalition of US, European Union (EU) countries has started undergoing a 14 week-long military training course at the Isparta Domestic Security Training Centre near the city of Isparta in western Turkey.

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In terms of a defence and security co-operation agreement signed between the two government in April 2012, Turkey will train nearly 3 000 Libyan troops in line with a EU-led mission to rebuild the Libyan Army and strengthen national defence and security institutions which crumbled during the revolution which finally ousted Colonel Muammar Gaddafi in October 2011.

Reports from the Turkish capital Istanbul said the Libyan soldiers landed in Isparta on Saturday and were immediately taken through the drills in preparation for three and a half months of a gruelling commando training curriculum.

The training covers basic military skills and is run in terms of the Memorandum of Understanding on Cooperation in military training signed between the two countries last year.

On arrival, the Libyan soldiers were provided with uniforms and drill equipment after going through a health screening exercise and receiving vaccinations to boost their immunity against local diseases.

The group is the first batch in a total of 15 000 Libyan troops who will be trained in the next five years by a coalition of military partners which includes the US, France, Italy, United Kingdom and some Middle Eastern Gulf Arab countries.

Some of the Libyan troops are set for training in military academies in the UK, Italy and France while the US will conduct the bulk of its Libyan Army training programmes in Bulgaria.

Two years after NATO missiles helped rebels drive out Muammar Gaddafi, Libya is under siege from former rebel fighters who now flex their military muscle to make demands on the state, seize oilfields and squabble over post-war spoils. Turkey, Italy, and Britain are leading the way with promises to train around 8 000 troops and police in skills from infantry basics to forensics. Other recruits are graduating from programmes in Jordan.

Officials say the Libyan Army has 5 000 troops in training overseas and 10 000 in Libya. At least 3 000 were in Tripoli after the militia withdrawal last month and special forces units are in Benghazi, one diplomat said.

Italy and Turkey are training police. Britain will start early next year giving training to 2 000 infantry troops with instruction mostly given overseas. Washington is still considering cooperation proposals, including a plan for groups of Libyan soldiers to rotate though Bulgaria for training.

Adm. William McRaven, the commander of U.S. Special Operations Command, has said the U.S. military was working to train 5 000 to 7 000 Libyans. He acknowledged a risk that some recruits tied to militias may not have “clean records.”

Turkey trained 800 police cadets who graduated in February, but so far Libya has been unable to send a second batch because of state “decision-making” problems, one official said.

Lack of modern equipment, basic skill levels and limited army facilities make training difficult; Gaddafi-era rivalries between departments mean coordination is often non-existent.

Some Libyan forces start from scratch. Coast guards, for example, often went out without life-jackets before training started and borrowed fishing vessels to make voyages to sea.
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Released:  12/12/20132013-12-12
Word count:  134

. LISCO, the Libyan Iron and Steel Company, has seen November sales in excess of LD 40 million, the Misrata business’s highest since the revolution.

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Libya independent
The company has also said that its production of reinforced steel reached yearly production targets two months ahead of schedule.

Mohamed Abdul-Malik, the Chairman of LISCO, despite working with power shortages and fierce international competition, the company was able to respond to the growing demand, particularly for iron in Libya. The increased sales and production for the iron and steel company indicate, Abdul-Malik said, the effects of reconstruction work in the country and growth in the economy.

LISCO is currently running only one in three of its iron bar manufacturing plants because of power shortages and reduced natural gas supplies.

Abdul-Malek denied media speculation that the Ministry of Industry had any intention of selling some of the company’s plants. He said that LISCO is determined to continue to move forward, expanding its production.
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Released:  12/12/20132013-12-12
Word count:  482

Libya plans to allow foreign investors greater stakes in shale gas than in its closely held conventional hydrocarbons industry, part of a bid to create jobs and stability there.

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The national
National Oil Corporation (NOC) foresees granting foreign partners joint venture stakes of about 40 per cent, twice the share of existing contracts signed under the former Muammar Qaddafi regime, said Bashir Garea, the company’s exploration manager.

Unleashing fracking on Libya’s estimated 122 trillion cubic feet of shale gas – double the nation’s conventional gas reserves – could help to boost fuel security and create jobs, as it already has in North America.

“It’s continuous drilling to replace these wells,” Mr Garea said at a shale conference in Abu Dhabi yesterday. “This will solve the issue of unemployment in the country because it requires a lot of manpower.”

Although NOC is seeking foreign companies to conduct joint studies on shale, following Algeria and Tunisia into development of unconventional hydrocarbons, the discussions remain at an early stage.

More than two years on from the revolution, Libya’s government is struggling to revive conventional oil production and appease tribesmen, civil servants and militias who have refused to give up arms. Mr Garea said NOC had learnt from seeing foreign partners abandon conventional hydrocarbon projects, such as Royal Dutch Shell’s exit from two exploratory blocks last year.

“Unfortunately, the IOCs [international oil companies] had very low shares, and then when drilling started and the results were not as expected they started complaining about low shares,” he said. “The funding of these unconventional projects requires a lot of money. Definitely to have anybody to develop shale resources, you cannot go for 10 or 15 per cent. That would be uneconomical.” Libya’s hydrocarbons industry has all but ground to a halt as oil worker strikes and port seizures have cut production to 250,000 barrels per day (bpd), down from 1.4 million bpd in July. Since then, Libya has lost an estimated US$7.3 billion in revenues, according to the oil minister Abdelbari Al Arusi.

It has also lost some European customers, who have replaced Libyan crude with Algerian and Nigerian supplies, and stands to lose a key production partner, Marathon, should the American company succeed in selling its stake in its joint venture at the Waha field.

Libyan oil officials hope to complete a draft of a long-awaited petroleum law that might provide more clarity for foreign investors by the first or second quarter of next year, although there could be delays, said Mr Garea.

“To have a petroleum law, you need to have a constitution first,” he said. “You cannot have a law without a constitution.”

It is also unclear where such a law could be upheld. Last month, the Cyrenaica Political Bureau, an autonomous group in eastern Libya, set up an oil export company separate from NOC and unveiled plans to create an independent central bank. “Let us not talk about east and west here,” said Mr Garea. “There will be no discussion between east and west. It’s going to be for the whole country.” ayee@thenational.ae
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Released:  11/12/20132013-12-11
Word count:  72

The CEO of Expo Milan 2015, Giuseppe Sala, has said that Libya has signed on to participate in the event.

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According to a report from ANSAMed, Libya has nominated Sallahdin Elhadi Hamza, president of the Administrative Comittee for the General Fairs Agency, to manage the country’s pavilion in the Bio-Mediterranean Cluster.

‘‘Expo Milan 2015 is one of the biggest economic events on a global level, able to start and reinforce economic and commercial relations among all countries”, Libyan Economy Minister Mustafa Mohamed Abu Funas told Italian ambassador to Libya, Giuseppe Buccino Grimaldi.
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Released:  11/12/20132013-12-11
Word count:  262

The National Planning Council (NPC), which describes itself as the consultative body for the General National Congress, held a two day conference at the Radisson hotel 7-8 December on “Libya 2040 Vision – a culture of sustainable development”.

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The conference, attended by politicians, academics, GNC members, businessmen and NGOs discussed Libya’s future vision in the fields of economy, human resource development, health, environment, security and culture and science.

The NPC general future vision for Libya is one where there is “high competitiveness, quality, continuous renewal of ideas and fast access to international markets”.

It calls for the “renewal of traditional employment and reinforcement of the role of the private sector”. It envisages a Libya with independent NGOs playing a more active and wider role. The NPC sees Libya’s political system “obtaining local and international legitimacy by virtue of its achievements in sustainable development and democratic reform”, and it sees the creation of a “knowledge-based society where the knowledge base is the asset upon which Libya’s political and economic strength is built”.

At the conference, the NPC admitted that their 2030 vision plan was an update of and built upon the 2025 vision plan prepared during the Qaddafi regime. They felt that the 2025 vision had been politically constrained by the ideology of the Qaddafi regime and that it was therefore necessary to take a fresh look at the vision and make it relevant for the new Libya: A democratic Libya based on a free market, competitive economy.

It is worth noting that the Libyan government, the executive branch, has also created another separate body, named the “2030 Vision” Committee headed by Issa Twejri the former Minister of Planning under Prime Minister Al-Kib.

As reported by Libya Herald the government’s “2030 Vision” Committee had held its inaugural meeting in May this year.
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Released:  11/12/20132013-12-11
Word count:  236

The US-Libya Business Association (USLBA) has welcomed the announcement by AECOM that it has signed a $209 million agreement with the Libyan government’s Housing and Infrastructure Board (HIB) for a nationwide housing, infrastructure development programme.

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USLBA said this is just one example of how US companies, like AECOM, are committed to Libya’s economic development and how they can offer world-class technology, management and training in partnership with the government, private sector and people of Libya.

USLBA Executive Director Chuck Dittrich said: “AECOM’s return will allow the cranes on the Libyan skyline to move forward, and the Libyan projects they will manage will create good paying, high-skilled jobs and world-class infrastructure in Libya.”

Over a 25-month period, the contract establishes AECOM as the lead programme manager for the Libyan HIB for all urban areas, specifically overseeing the HIB capital budget program. Additionally, AECOM will serve as the main advisor to the Ministry of Housing and Utilities.

Through this partnership, AECOM and the Libyan HIB will undertake several projects, including construction of new housing, urban design and development and upgrades to existing infrastructure, among others.

Additionally, AECOM will oversee technical professionals and assist in training Libyan executives, engineers and technical specialists.

“By adopting a streamlined, transparent government procurement process, accelerating Libya’s accession to the World Trade Organisation, signing a US-Libya bilateral Investment Incentive Agreement and undertaking a focused programme to integrate Libya into the global economy, Libya has all the resources necessary to succeed,” continued Dittrich.

“There are dozens of other US contracts and projects ready to be signed, and we urge the Libyan government to capitalise on this momentum.”  
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Released:  10/12/20132013-12-10
Word count:  148

Libya is inviting Turkish investors to invest in the country's oil sector, head of the National Oil Company (NOC) of Libya Abdulbari al-Arussi said in an interview with the Turkish Sabah newspaper today, SIA reports.

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"Libya intends to attract investments worth $ 15 billion in the oil sector of the country's economy for the next 10 years," he said.

"Moreover, Libya is also interested in using Turkey's experience in oil pipeline construction," he added.

"Libya's oil ministry held meetings aimed at attracting investments in the oil sector of the country's economy with more than 10 Turkish companies," he said.

Libya ranks eighth as a crude oil producer among 12 member states of the Organisation of Petroleum Exporting Countries (OPEC) and third in Africa after Nigeria and Angola. Italy is the main importer of Libyan oil, followed by Germany, France and Spain.

Libya's proven oil reserves hit 47 billion barrels. Before the revolution Libya was producing 1.6 million barrels of oil per day.

Oil production amounted to 1.55 million barrels per day in Libya in May 2012. This is a record index for the period after the revolution of February 2011 in the country.
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Released:  10/12/20132013-12-10
Word count:  102

Russian diplomats come to Libya to discuss resumption of embassy's operations

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A task group of Russian diplomats came to Tripoli on December 8 to confer with the Libyan authorities on the resumption of operations of the Russian Embassy in Libya.

The attention will be focused on the provision of the security of the Russian diplomatic mission and its personnel consistent with the commitments undertaken by the Libyan side earlier," says the ministry's report posted on Monday.

"Once the necessary conditions are created, the expediency of a larger number of the Russian diplomatic personnel assigned on a mission to Libya and the full-scale resumption of its [the mission's] operations will be considered," the report said.
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Released:  10/12/20132013-12-10
Word count:  197

More Libyan partnerships with US hospitals may be in the works after the first high-level Libyan healthcare delegation to visit the United States arrived this week led by Deputy Minister of Health Emhamed Elhemmali.

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After attending the Annual Meeting of the Radiological Society of North America in Chicago, the delegation headed to Washington on 3 December, meeting with US companies in the medical field as well as discussing with US State Department officials and members of the US Congress how the US can provide assistance in improving Libya’s healthcare system.

Libya is seeking US expertise to move beyond a system of, “scattered hospitals and primary care without good coordination”, said Elhemmali, addressing an audience of US companies during a discussion on 4 December organised by the National Council on US-Arab Relations and the American Libyan Chamber of Commerce and Industry.

Dr Esam Omeish, Vice Chairman of the American Libyan Chamber of Commerce and Industry and Chairman of the Department of General Surgery at Inova Alexandria Hospital, said that Libya “very much looks up to the American healthcare system”.

Libyan needs sought in the US focused on public health administration, training, pharmaceuticals, telemedicine, IT and hospital construction. Dr Taher Ali Ahmed Abdussalam, head of the Medical Supplies Organisation at the Ministry of Health, highlighted the particular need to devise a central system for hospitals to communicate with the ministry on their procurement needs.
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Released:  09/12/20132013-12-09
Word count:  264

Malta is strongly supporting the integration of Libya into the family of the Mediterranean Partners for Cooperation, Foreign Minister George Vella said.

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Addressing the OSCE ministerial council in Kyev, Dr Vella said Libya was the only missing link in the North African chain. “As a neighbouring state, we are concerned by the situation in that country. But we also believe that the OSCE can help Libya build its democratic institutions. It can help it foster the respect for human rights and the rule of law. It can also help it address the problems associated with the proliferation of small and light weapons and to have democratic control of the armed forces. The OSCE has the right tools, credentials and experience to push for stability in that country. Overlooking the situation will however not make it go away.”

The minister also spoke on human trafficking saying that Malta experienced the effects of this scourge first-hand through irregular immigration and was doing its utmost to assist primarily the victims.

“But this modern form of slavery also affects most of your countries. It is an affront to human dignity that must be combated forcefully. This Organisation has to do more to see that laws are enforced and criminality controlled. More also needs to be done on the prevention side of human trafficking. Political commitments are good but not good enough.

"Those commitments must be implemented through a concrete action plan that is results-oriented and thematically focused. A plan that cannot be implemented without the full cooperation of the North African Partners for Cooperation, including Libya – countries through which most of the irregular migrants reaching the Mediterranean pass, before reaching our shores, if they manage to make it,” he said.
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Released:  09/12/20132013-12-09
Word count:  104

The Montréal-based company SNC-Lavalin Group, the largest engineering and construction company in Canada, is reported to be trying to pick up work again in Libya, signaling it is ready to move on from corruption allegations that tie the firm to the country’s former dictatorship.

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Citing an email from a company spokesperson, SNC-Lavalin has maintained contact with the Libyan authorities “to resume projects when the situation will allow … We sincerely hope the best for Libya and the Libyan people, and also hope to be part of their future if we can.”

The company has offices in Libya with around 30 employees, and has been active in the country for more than 40 years.

SNC is working on eventually restarting the Benghazi Lakes project, which involves the cleanup of three water bodies in Benghazi, and the $500-million Benina Airport projects, to build a new international terminal, runway and apron, also in Benghazi.  
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Released:  09/12/20132013-12-09
Word count:  107

Tripoli, Libya (PANA) - The Libyan Government has denied reports that it has withdrawn US$7 billion from its foreign currency reserves.

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It has also denied taking a loan from the World Bank to finance its budget deficit caused by the fall in oil receipts. A communiquÉ published by the Finance Ministry on Friday night described the reports as "false" and called upon the media to adopt a professional approach while delivering their job.

Some media houses have attributed these reports to the Deputy Governor of the Libyan Central Bank who has since denied making such a statement.

According to the communiquÉ, "The government has not withdrawn any money from its reserve funds for the past three months despite the fall in oil receipts estimated at about US$3 billion ."
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Investment Committee reviews the topic of agricultural land in the Republic of Guinea Conakry

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Foreign Investment Committee reviewed with the chairman of Libyan African Agricultural Holding Company the subject of agricultural land located in the Republic of Guinea Conakry with an area of 12 hectares which is part of Libyan investments and confiscated by the Government of Guinea in favor of a Chinese company to create an investment project on them.

The Committee recommended at its meeting to follow the procedures to negotiate with the Government of Guinea to compensate the Libyan company with value and demanded the company's board to prepare a detailed report on agricultural lands and investments of Libyan African Company abroad.  
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AECOM announces US$209-million contract with Libyan Housing and Infrastructure Board for nation-wide housing, infrastructure development program

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AECOM designated as lead program manager, main advisor to Libyan Housing and Infrastructure Board and Ministry of Housing and Utilities

LOS ANGELES, Dec 05, 2013 (BUSINESS WIRE) -- AECOM Technology Corporation ACM -0.30% , a leading provider of professional technical and management support services for public and private clients in more than 140 countries around the world, announced today that it has signed an agreement with the Libyan government's Housing and Infrastructure Board (HIB) authorizing work valued at US$209 million over a 25-month period.

This agreement establishes AECOM as the lead program manager for the Libyan HIB for all urban areas throughout the country. According to the contract, AECOM will serve as the overall program manager of the HIB capital budget program -- a comprehensive housing and infrastructure development program for Libya that will create an enhanced environment for its citizens and visitors -- which has a current contracted value of more than US$36 billion. As the program expands and becomes fully reestablished, the HIB capital budget program is expected to exceed US$100 billion addressing critical housing and infrastructure needs throughout the country. AECOM led the HIB's housing and infrastructure program from 2007 until it was suspended in 2011.

Additionally, the agreement signed today establishes AECOM as the main advisor to the Ministry of Housing and Utilities (MHU), which oversees the HIB and other agencies, with responsibility for ensuring that common systems and standards are applied to similar projects in other MHU agencies. As such, once the current contract value or timeframe is met (whichever comes first), AECOM's role may expand to align with the scope of HIB and MHU programs. "We look forward to engaging in our work to advance the quality of life for the Libyan people in terms of housing and critical infrastructure," said John M. Dionisio, AECOM chairman and chief executive officer.

The scope of this effort on the part of the Libyan HIB includes the construction of new housing and infrastructure systems for all cities in Libya; urban design and development; housing units and residential settlements; upgrades to existing infrastructure, roads, highways, bridges, water, wastewater and other utility systems; and environmentally focused, sustainable processes.

"This contract with AECOM reflects the significant commitment that Libya is making in reestablishing the development of our national housing and infrastructure program," said Ali Sharif, minister, Libyan Ministry of Housing and Utilities. "We are moving forward to enhance the quality of life of our people and the economic potential of our country through this major housing and infrastructure development initiative."

The program scope also includes the knowledge transfer and training of Libyan executives, engineers, and technical specialists with a focus on business fundamentals as well as more-specialized subjects, including program management, construction management and inspection, as well as planning and design. "We are delighted to advance our partnership with AECOM and its global network of expertise and resources as we move forward in this exciting restart of our work for our nation," Sharif added.

According to Sharif, AECOM will serve as the lead program manager administering the HIB's capital program and will work with the HIB and ministry staff in overseeing the hundreds of technical professionals on the program, and all outside consultant firms retained for specific planning, design and construction management roles. Additionally, AECOM will work with the HIB and ministry to restart and implement construction contracts throughout Libya.

About AECOM

AECOM is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental, energy, water and government. With approximately 45,000 employees around the world, AECOM is a leader in all of the key markets that it serves. AECOM provides a blend of global reach, local knowledge, innovation and technical excellence in delivering solutions that create, enhance and sustain the world's built, natural, and social environments. A Fortune 500 company, AECOM serves clients in more than 140 countries and had revenue of $8.2 billion during the 12 months ended Sept. 30, 2013. More information on AECOM and its services can be found at www.aecom.com .

Forward-Looking Statements: All statements in this press release other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any projections of earnings, statements of plans for future operations or expected revenue. Actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause actual results to differ materially from our forward-looking statements are set forth in our annual report on Form 10-K for the fiscal year ended Sept. 30, 2013, and our other reports filed with the U.S. Securities and Exchange Commission. AECOM does not intend, and undertakes no obligation, to update any forward-looking statement  
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