You are hereHome CategoriesLibya
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

date:Posted: July 28, 2014
INTERNATIONAL. Janet Yellen is very different from any of her predecessors. She is likely the most dovish and politically leftist Fed Chair in the Central Bank's history; She sees the Fed's mission as a tool to promote progressive social policy.
date:Posted: July 28, 2014
QATAR. The potential in Indonesia is enormous and more rapid growth could generate opportunities for a number of foreign companies, says QNB Group report.
date:Posted: July 28, 2014
INTERNATIONAL. The diversified BBG Commodity Index was almost unchanged on the week; Geopolitical concerns will continue to play an important part when determining a price for crude oil.
INTERNATIONAL. In a presidential statement, the 15-member body expressed strong support for a ceasefire, and urged all parties to accept and fully implement it into the Eid period marking the end of the Muslim fasting month of Ramadan and beyond.
dhgate