Libyan-Egyptian cooperation to increase investment opportunities between the two countries

Libyan-Egyptian cooperation to increase investment opportunities between the two countriesBy Sami Zaptia. London, 30 April 2021:Ali Mahmoud Hassan, Chairman of the Libyan Investment Authority (LIA), Libya’s Sovereign Wealth Fund met Wednesday Mohamed Abdel Wahab, CEO of Egypt’s General Authority for Investment and Free Zones (GAFI) to discuss investment opportunities in the two countries. The LIA is Libya’s Sovereign Wealth Fund managing about $ 67 billion through 550 investment companies spread across three continents. First step to implementation of signed agreementsGAFI CEO Abdel-Wahab said that the meeting is the first step in the actual implementation of agreements to enhance cooperation between the two countries, as joint investment opportunities between the Libyan Investment Authority and Egyptian partners were discussed, for what is in the interest of the two countries’ economies, and an agreement was made to implement joint Egyptian-Libyan investment projects in the targeted sectors. Integrated vision of investment opportunities in EgyptAbdel-Wahab presented the Libyan side with an integrated vision of investment opportunities in major national projects, especially in the new administrative capital and the new city of El Alamein, explaining to the Libyan side the need to diversify the Libyan investment portfolio in Egypt, to benefit from the growth of various economic sectors.

May 01, 2021 10:52 UTC

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