Misrata seeks to emulate Tangier and Milan in its economy
LIBYA – An analytical report by the Italian news agency Nova has examined Misrata’s ambition to become what it called “Libya’s Tanger Med” and the “Milan of Libya”, highlighting a contrast between the city’s construction boom and growing investment opportunities on one side and poverty, frustration and daily hardship on the other.
The report, whose analysis was followed by Al-Marsad, said the Misrata Free Zone is hosting the Libyan-Italian Business and Investment Forum, with 60 Italian companies and 250 Libyan companies taking part to build commercial and industrial partnerships.
Free zone location and export opportunities
It noted that Rome has sent its first comprehensive economic mission to Misrata, following earlier moves towards Benghazi and Tripoli, in an attempt to move from initial interest to real cooperation in a market full of opportunities despite political and financial instability.
According to the report, the city is seeking to turn itself from a point of arrival for imported goods into an industrial centre for production and export to Europe and sub-Saharan Africa, drawing on the free zone’s location, facilities and tax and customs incentives.
Living disparities behind modern buildings
The report said that 15 years after the events of 2011, Libya has not fully delivered on promises of prosperity and stability, and that many young people feel frustrated by a political transition that has not improved their living conditions.
It said rising prices of imported goods and falling purchasing power are adding to the daily burden on parts of the population even as new buildings go up, and it described signs of poverty along the roadsides, among migrants returning from construction sites and farms, and children begging.
It added that interest in Italian culture remains strong, citing young men watching an Italian derby in a café overlooking central Misrata.
Italian companies and questions over investor confidence
The report quoted an Italian businessman active in Misrata, Benghazi and Tripoli as saying that Libyans value Italian products and technologies for their quality, and that the task now is to turn this interest into an organised and lasting economic presence.
It also quoted Elio Franci, president of the Aeneas consortium, which worked on rebuilding Tripoli International Airport from 2017 before being removed from the project in 2024, as saying the group has operated in Libya since 2016 and kept investing its resources even during the difficult years.
Franci said the contract had been terminated because of what he called a clear lack of financial cover, adding that providing the required guarantees would have allowed the passenger terminal to open more than a year ago.
He said later agreements were signed to end the dispute, but the group is still waiting for outstanding sums due under the latest agreements despite repeated requests, prompting the report to ask how the confidence of new investors can be built if commitments to existing ones are not honoured.
Benefiting from shifting international trade routes
The report argued that the Strait of Hormuz crisis could open an opportunity for Misrata if it pushes Europe to diversify its trade routes and move part of its production to nearby Mediterranean industrial hubs, pointing to the example of Morocco’s Tanger Med, where combining a port with industrial zones and production facilities helped create a major export centre.
