The American Chamber of Commerce in Libya (AmCham Libya) hosted a virtual meeting with U.S. Ambassador to Libya Richard Norland and American companies on Tuesday to exchange views regarding the evolving political process in Libya and prospects for improving the business climate for U.S. investment.
Ambassador Norland underscored that the ongoing political process in Libya provided a unique opportunity for Libyan political and economic leaders to achieve these reforms and make Libya a strong and reliable partner for private sector investment.
American companies expressed a strong desire to deploy their technical expertise and financial resources to help rebuild Libya’s infrastructure and economy.
The business leaders emphasized that greater investment in Libya required long-term political stability, transparent economic decision-making, an agreement on long-term revenue management, and a more enabling business environment, including the Central Bank’s timely and consistent approval of letters of credit that Libyan importers require to honor payments to their foreign business partners.