Widening Libyan investment opportunities at the Doha forum
LIBYA – Suhail Abu Shiha, Minister of Economy and Trade in the Dbeibah government, has said that development spending in Libya averaged about $10 billion a year over the past four years, allocated to developing infrastructure and improving prospects for growth and investment.
Taking part in the World Investment Forum 2026
The minister made the remarks while taking part in the World Investment Forum 2026, organised by UN Trade and Development (UNCTAD) in Doha. Also attending were Mustafa Mana, head of the executive team for initiatives at the Prime Minister’s Office; Ali Mahmoud, head of the Libyan Investment Authority; and Mohamed Abu Halqa, director-general of government communication, alongside ministers, officials and representatives of international economic and investment institutions.
Oil, energy security and economic diversification
Abu Shiha said global geopolitical and economic shifts had highlighted the strategic importance of Libya, which holds Africa’s largest proven oil reserves, and the value of its resources to energy security and the stability of supplies.
He stressed that the government’s vision was not limited to exporting resources but aimed to turn them into productive investment, added value and sustainable economic diversification.
Improving the business environment and making use of development spending
He said the Government of National Unity was seeking to move from restoring economic activity to developing the economy, improving the business environment and strengthening regional and international integration, so as to attract high-quality investment and broaden partnerships with international companies and institutions.
He noted that the development spending of about $10 billion a year over the past four years was aimed at developing infrastructure and stimulating growth, and should be seen as an investment in the Libyan economy’s ability to attract projects, make trade more efficient and increase the private sector’s contribution.
2026 partnerships and a more diversified economy
He said moves and partnerships with major international companies at the start of 2026 reflected an effort to strengthen Libya’s position on the international investment map and to build on its economic potential to open new avenues for cooperation.
He concluded by stressing that the country’s resources and strategic location were an opportunity to establish real investments and partnerships that help diversify the economy and strengthen its ties with the world, supporting sustainable development and increasing opportunities for growth.
