After lifting of the coercive sanctions imposed wrongly in 1992, the major role of Libya is clearly observed and many countries have restored their full commercial relations and others have activated activities towards oil lake expansion from west of Mediterranean Sea up to the heart of the desert. No doubt internal interactions of any state are the real mechanism to bring out the strength internally. Libya recently has witnessed vast development starting from program of expansion of ownership base towards privatization, many public companies and economical productive units have been liquidated or merged to form new joint stock companies and effective commercial institutions. Concerning the black gold, two months go 10 international companies have competed to gain concessions in Libya to explore oil, and a lot of Asian companies could find foothold, in order to plunge for seeking the Libyan oil.

A decade ago it was one high hope for these companies merely to get visa to Libya . Inasmuch as oil moves navies and mobilizes armies, Libya is keen to capitalize on its new position, when it has been announced that the increase of oil would amount 2MBPD. No doubt this change would create positive situation for the Libyan citizens when GPC recently announced that budget of transformation would become ten billions L.D. associated with numerous achievements. This week will witness entrance of grand firms in field of exploration to sign contracts, in particular Exxon Mobil the giant oil company within what Libya adopted as principles of participation. These new developments have reflected to other economical side, it is tourism field that has also recently flourished, where the tourism reservation increased in so much a lot of hotels which are completely booked for the next period. Libyan responsible officials in field of tourism industry are keen to make Libya an import gate to explore treasures of the Libyan desert , through continuous motivation for this useful industry.

In field of communication few day ago Libya has signed feasible agreement with Ericsson company to up grade mobile systems in Libya that would provide round million lines which can be utilized and facilitate the process of communication. Away from illusion pointlly Mohammed Mouamer Gadafi the head of general board of information and communication in Libya has announced that currently no foreign investment in the field of communication . Next few days three important symposiums would be organized regarding business, services and stabilization the principle of mutual effects to create a thing on the ground. GPC has held its 6 th ordinary meeting to discuss several issues related to correction of a lot of negative points, upon its general secretary tongue when he talked sense on some wrong exploitation of some public economical institutions, finally it is wakening of a giant.

Mohamed A.M.Sulaiman

08.12.2005
Libyaninvestment.com