The Chairman of the Directors Board of the General Authority for Investment and Privatization Affairs, Jamal Al-Lamoushi, meets with banks, insurance companies, financing institutions in general, and agencies affiliated with the Ministry of Economy.
According to Al-Lamoushi, the meeting dealt with standing up to the complications facing financing, projects and investment in Libya, adding that many approvals have been taken from banking institutions and public and private commercial banks to start a number of projects.
Al-Lamoushi continued by saying: “We are happy to hear this news from investors and businessmen for obtaining financing, and we wish them success in their program and fulfill their obligations towards these financial and banking institutions, because one of the obstacles and problems facing banks in financing projects is the lack of a real estate registry to grant documentary documents indicating that Guarantees and mortgages that may be offered against any financial financing and on the other hand, in order to open the door to others”.
He added: “We are in need to increase the number of investment and private projects so that we can get out of the bottleneck. We are facing a major problem in the national economy, which has a major distortion and needs to be treated. This will be only by giving chances to businessmen and investors, establishing promising economic projects, factories and companies, supporting the national program for small and medium enterprises, taking the hand of youth, graduates, job seekers, and guiding the state sector to free economic work away from state institutions”.
Adapted from Sada Website