New service for firms looking to enter Libya
As mentioned in this previous post, it has been interesting how much Libya has been popping up in the news lately. There's an article in Building Global (the online version of the UK's Building magazine) which reveals details of a new service, provided by The South East Centre for the Built Environment, aimed at helping small British construction firms to enter the Libyan market.
The service includes introductions to other firms and advice about how to set up business in the country, how to obtain visas and how to repatriate revenues. At £13,000 (around US$20,000) it's not cheap, but apparently they've already had expressions of interest from about 45 companies.
Why the interest? According to the Libyan British Business Council, Libya's GDP is predicted to grow 8% from 2008 to 2011 and it has a massive construction program underway, including a £100bn infrastructure works plan.
In the Related Articles section underneath, there are articles about Italy committing $5 billion to support Libya's construction and infrastructure projects over the next 25 years, and details of Libya's plans to build a $5 billion economic city for oil and gas businesses. The latter is part of Libya's plan to massively increase oil production and begin exporting gas. It aims to nearly double its crude oil production by 2012.
Interesting times in Libya. We're engaged on some massive housing, education and infrastructure programmes there, including some major airport developments in Tripoli, Benghazi and Sebha. Definitely a market we'll be keeping an eye on.
Labels: Global trends
