US Secretary of State Condoleezza Rice's visit to Tripoli, Libya on September 4, and the settlement of outstanding US and Libyan compensation claims, clears the way for more US firms to enter the Libyan market. Interest from foreign investors and businesses in opportunities in Libya is as high as ever.
The Libyan economy is driven by the oil and gas sector accounting for 95% of the country’s export revenues. Economic reform is a top priority for the Libyan government, despite the complexities of Libya policy-makers.
Opportunities exist for US Companies in a wide range of sectors including:
Oil and Gas Services
Refining
Transport
Engineering Services
Construction - Housing – 70,000 units per year.
Road and Bridge construction, including 1400 miles of road upgrades.
Seaports Modernization
Construction of schools and hospitals
Tourism – growth in hotel construction is forecast to increase the number of beds to 10,000 by 2010 as part of a US$7 billion tourist development plan.
Airports Construction – a new terminal at Tripoli International Airport and the construction of a new airport in Benghazi are a priority
Power and electricity – the power sector is set to double in terms of output from 4,700MW to 9,700MW within the next five years at a projected cost of US$7.5 billion
Desalination and Water Treatment –
Water and sewerage projects – US$6 billion has been allocated to waste water systems and management.
Information Technology
Education and Training
Manufacturing
Tourism
Consulting
Medical Technology and Training
Agriculture
Safety and Security Equipment including Fire Safety
US Export Council 2008
