Karanfil: Investments worth billions of dollars up for grabs for Turks in Libya

The Head of Foreign Economic Relations Board of Turkey-Libya Business Council, Murtaza Karanfil, called on Turkish businesspersons to invest in Libya, saying investments worth tens of billions of dollars are awaiting them.

Speaking to a meeting held by the Turkey-Libya Business Council on Thursday, in Istanbul, Karanfil reviewed the potential investment opportunities for a group of businesspersons, saying Libya is a country that depends on imports and harbors opportunities in all fields of work, in addition to having a strategic geopolitical position in Africa, within a close stance to the Middle East and Europe.

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Karanfil said Libya could give important opportunities to investors in the services’ sector, adding Turkey has good experience in the trade, production, construction, and industry, among other fields, saying Turkish construction projects around the world are worth 500 billion dinars and that Turkey had already tried construction work in Libya, in which there are projects worth 29 billion dollars.

He indicated that the private sector in Libya had developed starting from 2011, saying expected investment opportunities in the country are over 120 billion dollars, adding that the Turkey-Libya Business Council is planning to install a 50.000 square meters logistical base in Libya and that the cornerstone of the project will be placed in the next month or two.

Karanfil also said Turkish businesspersons have been working in Libya for a long time and general contractors have been working in construction in the country since 1972, adding that Libyans are optimistic about partnership with Turkey.