Libya Market Spotlight

Speeches Shim

Current Situation

Pre-war, Libya leveraged its abundant oil and gas resources, agricultural and industrial developments, and its strategic geographical location to attract investment and fuel economic growth. Though the country’s investment opportunities are currently hampered by conflict and political instability, USAID and other international partners are working closely with the Libyan Government, community associations, and local businesses to address these challenges and lay the groundwork for stability and a return to economic growth. Libya is a challenging investment climate, however, evaluating opportunities now could pay future dividends with opportunities to bring Libya’s abundant natural resources back online, rebuild its infrastructure, restart investment in economic diversification, and sell products and services to its severely underserved consumer market. As Libya and its partners continue to invest in stabilization, foreign companies and investors can already take advantage of new government incentives to diversify the local economy, including investments in industrial and agricultural developments, provision of health, water, and education services, and in anticipation of a return of tourism.

USAID’s Role

Since the fall of Gadafi’s regime in 2011, USAID has worked closely with the Libyan Government, as well as local communities, companies, and investors to advance peace, prosperity, and with it, a return to economic growth. Towards this objective, the USAID Mission to Libya collaborates with a range of actors and stakeholders, including large multinational corporations, investors, local businesses, community associations, and health and education service providers. The Mission’s current focus is to collaborate with these actors and stakeholders to maintain access to basic goods and services; assist enterprises to grow and access financing; preserve institutions; and promote peace and stability amid the on-going conflict. Together, these actions are designed to lay the groundwork for post-conflict rapid economic growth.

Issuing Country 
Date 
Monday, May 3, 2021 - 4:30pm

Last updated: May 03, 2021