A Libyan commercial delegation consisting of a number of businessmen and companies called on Saudis to invest in areas related to the construction of airports and roads, mining, infrastructure, exporting material, and commodities.
The delegation discussed on Wednesday with representatives from the Saudi business sector at the Council of Saudi Chambers (CSC) in Riyadh fields of cooperation, and available investment and commercial opportunities in both countries.
Sami al-Obeidi, chairman of the of Council of Saudi Chambers, told Asharq Al-Awsat newspaper that the Libyan delegation was assured that the Saudi private sector is keen to invest in Libya and participate in reconstruction projects in light of huge promising investment opportunities there.
Obeidi lauded the meeting as an opportunity to draw a roadmap for developed economic ties between the kingdom and Libya, stressing the historic relationship that linked the two countries.
He affirmed that the current economic ties didn't meet the aspirations of Saudi and Libyan businessmen, as the volume of trade remained around SAR412 million (USD109.8 million) in 2017.
Mohamed Raied, president of Libya's General Union of Chambers of Commerce, urged Saudi businessmen and firms to benefit from promising investment opportunities proposed by Libya in the fields of infrastructure.
He assured the Saudi business community towards the conditions in Libya, listing the features and facilitations that encourage investment there such as the ability to swiftly opening bank accounts and the presence of an encouraging law that guarantees the rights of foreign investors.
Raied affirmed that the Saudi product enjoys acceptance and confidence at the Libyan market, hailing its accomplished progress in all fields.
