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Libya offers business and investment opportunities for Dubai, says Asamer CEO
Source: BI-ME , Author: Posted by BI-ME staff
Posted: Sun July 8, 2012 10:30 am

UAE.  The CEO of Libya's leading construction company has been telling Dubai business leaders that the country offers huge business and investment opportunities stemming from the need to rebuild in the wake of the 2011 revolution.

Mario Zotelle, chief executive of Joint Libyan Construction Company (JLCC), told 150 representatives from 60 companies from the UAE, GCC, Europe and Africa that Libya is in urgent need of infrastructure upgrade and general housing and business reconstruction.

JLCC is owned by Asamer Holdings, which is one of the most experienced foreign investors in Libya and one of the first companies to return to Libya after the end of the revolution and restart production at its three cement factories there. It was invited by the Dubai Chambers of Commerce to share a first-hand account of the current business climate in Libya at the "Future Libya Development Forum 2012: Infrastructure & Rebuild" conference in Dubai last week.

“We have high expectations from the elections and the new political climate which should work to create a stronger institutional and business framework,” Mr Zotelle said. “Libya needs education reform in order to meet the demand for professionals. It also needs reform of the banking sector and for security to be guaranteed throughout the country. Transport and the electricity and gas supply need to be improved. But the potential for both business and investment participation in the reconstruction of Libya is significant.”

Asamer owns and manages three cement plants in Libya. During the revolution, Asamer supported its workers, the revolutionaries and the Benghazi community with the delivery of humanitarian aid. The company paid 2011 salaries to its workers despite shutting down production during the crisis.

Asamer has invested more than €100 million in the factories to increase efficiency, output, quality and labour standards and to install an environmental protection system that changed the area around the production sites from grey to green.

Asamer is one of the biggest employers in Libya and one of the key pillars of the Libyan reconstruction process. The company is in the process of regaining full-capacity production at the Libyan Cement Company to provide full availability of products to its customers and partners and secure the jobs of its employees.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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INTERNATIONAL. In the end, it is unlikely that the territorial Islamic State can survive. The truth is that Turkey, Iran and Saudi Arabia are all waiting for the U.S. to solve the problem with air power and a few ground forces. These actions will not destroy IS, but they will break the group's territorial coherence.
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