Sunday, July 24, 2005

Libya takes out a full page ad in the New York Times: Open for business!

Global Economies: Libya/ NY Times special advertising supplement

Roman ruins such as the ancient city of Leptis Magna could help make Libya highly marketable as a tourist destination.

INTRODUCTION
Privatization leads the way to take-off
The years of isolation are at an end following the lifting of sanctions and, as U.S. dollars flood back into the oil sector, Libya is liberalizing its economy in a bid to relaunch itself in the global marketplace.

PRIVATIZATION
Offloading state firms will broaden the base of ownership
Libyans get the chance to run their own businesses as public firms move to the private sector.

TOURISM
A land of ancient civilizations and desert
During the years of isolation, Libya was more or less closed to Western tourists. Today, visitor numbers although still relatively small are increasing rapidly, and tourism is the most promising sector outside the oil industry.

ìSteel is the future: we have good prices and a great export potentialî
A state-run enterprise attracting considerable interest as it awaits privatization is the Engineering Industries Company, which manufactures products ranging from steel structures and transmission line towers to barbed wire and nails.

TRANSPORT
Getting shipshape for expansion
shipping Libyaís maritime authorities are preparing for an increase in both cargo and cruise passengers now sanctions have been lifted.

Airport expansion will handle increasing traffic
LIBYAís airports are to be expanded and modernized. Tripoli International Airport is to get a new terminal, and a completely new airport is to be built at Libyaís second largest city, Benghazi.

INDUSTRY
Steelmaker moves from strength to strength
Lisco profits from rising demand at home and abroad and seeks partners with technological know-how to help it upgrade its facilities.

Major projects will build the economy
Boom times lie ahead for the construction industry as Libya builds the infrastructure it needs for a new era of economic expansion.

Delivery firm has the right prescription
Private companies have been allowed to import and distribute pharmaceuticals and medical equipment in Libya since last year, opening up a multi-million dollar market.

Libya has decided to join the world economy and reap the benefits, rather than cast his lot in with the Jihadis. Khadaffi's crazy, but not THAT crazy! Now that Khaddafi is taking concrete steps away from terrorism and seeking WMD's, the sanctions have been lifted, and Libya's economy is poised to grow.

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