What makes Libya ready to do business with the international manufacturing industry ?

• Libya has great purchasing power and has started a new phase in developing its national economy, those who come first benefit most.
• The Libyan business environment is experiencing huge changes to the better felt by all almost on daily basis, people are ready to do business and they are serious about it.
• The Government has allocated some 31 Billion US$ for developing the national economy for (2007 - 2008) and it is emphasizing the importance of small to medium size manufacturing enterprises as the only solution to minimize imports from abroad.
• Libya is aiming to reduce imports and save on spending on just about everything which is consumed, the only way to do this is to lay the foundation for a diversified manufacturing industry that will play its role in making Libya self-sufficient at least in the most essential and basic industries.
• Libya does posses the skilled manpower to give the manufacturing industry the skills it needs to function properly and deliver the goods.
• Energy, fuel, power and running costs are a fraction of they are world-wide which gives local and foreign investors who will venture into this industry added advantage and extra incentives to make it during the first years of starting business.
• Land rental and purchase is reasonably cheap and new legislations have been introduced which gives the business community many incentives to become active in promoting industrial projects in the country.
• Labour is extremely cheap compared with world-wide standards.
• Many types of natural raw materials are either available cheaply on the local market or easily obtainable are competitive prices from abroad.
• Libya is very close to Europe and reaching it is as easy as flying to Spain from Britain or from Italy to France.
• The annual growth rate has been improving despite world-wide recession and the available figure show that a 5% growth rate for this years is well within expectations.
• Entering the Libyan market as a manufacturer can open new opportunities in many other business associated with manufacturing such as investment, expertise, transfer of know-how and supply of skillful manpower to this industry. The prospects are unlimited and the rewards likewise.