Turkish firm urges investors to reap opportunities in Libya

After Turkish officials’ latest official visits, relations with Libya entered a more active period, says businessman

The head of a Turkish firm on Friday called on Turkish entrepreneurs to invest in Libya and play more active roles.

Libya’s Government of National Unity has drawn praise, and there are positive developments in the local economy, Murtaza Karanfil of the Karanfil Group said in a press release.

Saying that bad impressions of Libya should be changed, Karanfil added: “As Turkish businesspeople, we believe in Libya.”

“We invite other countries in the region and businesspeople to do business in Libya,” he said.

He underlined that Libya is open to cooperation in all fields of trade thanks to its location.

Construction, energy, technology, cyber security, health,tourism are prominent sectors in the country, he added.

He also said that Libya is Africa’s gateway to the world.

Telling how that Libya’s only major source of income is oil, he said the country should diversify itself.

He also said Libya should take the first step for investments and projects, as it cannot expect foreigners to come and make investments or do business in the country.

There are idle funds in Libya, which has 74 billion barrels of oil and 174 trillion cubic meters of natural gas, he said, adding:

“I believe that partnerships can be made very easily.”

Telling how Libya was once Europe’s third-largest oil supplier, he said the country still has economic relations with all African countries.

All sides agree that the African continent will be able to feed the entire world in 150-200 years, he stressed.

Currently, Libya is ready to provide all necessary energy to Europe but it needs some work, he said.

Touching on the Turkish construction sector in Libya, he said Turkish contractors gained their first overseas experience in the country’s contracting sector.

After Turkish officials’ latest official visits, relations with Libya entered a more active period, he added.


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