Libyan Indonesian Business Council: September 2011

Thursday, September 29, 2011

RI - Libya Membangun Gerbang Ekonomi Asia Afrika

Media Indonesia 29-09-2011

Saturday, September 24, 2011

Media Release September 21 2011

The new Government of Libya (National Transitional Council) has started the negotiation with several companies in order to rebuild Libya's infrastructure. (“The NTC estimates that reconstruction could cost Libya about $200bn over the next decade as the country rebuilds its infrastructure, which has been badly damaged by years of underinvestment, sanctions and, more recently, war” Financial Times September 15 2011).

Many European companies have taken advantages from the success of Libyan Revolution with the backing of NATO and will immediately follow-up their political leaders' recent visits to Tripoli(“Britain, which sent its first representative from UK Trade & Investment to Tripoli on Tuesday, plans to send a delegation of at least 20 members of the Libyan British Business Council to Tripoli and Benghazi in October. The national transitional council has shown it is willing to reward those companies and nations that aid it and so it is not too early for companies to establish or re-establish their presence in Libya,” said Emad Mostaque, chief Middle East and north Africa strategist at Religare Capital Markets. Financial Times September 15 2011).

Foreign companies are required by the law to establish joint venture with local companies in Libya in order to do projects. However, Libya is still seen by many foreign companies as good opportunities to do infrastructure projects due to its liquidity but lack of expertise and experience internally for those project execution (“But the Libyans do not need foreign capital as much as foreign expertise and technical know-how. To this end, experts expect the existing requirement for joint-ventures with Libyan companies and employment quotas which stipulate 75 per cent of employees must be local are likely to be maintained” Financial Times September 15 2011)

Libyan Indonesian Business Council is ready to assist any Indonesian companies that are willing to establish itself in Libya and make contacts to proper authorities in order to negotiate business deals and sign government contracts. The Council is headed by Mr. Abdulmagid Mayet, a renowned lawyer and long-time businessman, the author of Libyan Commercial Law Handbook, Legal Adviser of US Embassy in Tripoli, Chairman of Legal Committee of Libyan Businessman Council and Chairman of Tripoli Chamber of Commerce.

News coverage by Tempo on the subject: "Peluang Dagang Indonesia di Libya Pasca Revolusi"

To contact Libyan Indonesian Business Council:

The Embassy of Libya

Jl. Kintamani Raya II Blok C/17

Kav. 6-7 Kuningan Timur

Jakarta Selatan 12950

c/o Charge D'Affaires

Mr. Masoud S. El Koshly

mobile: +62-85710671117 email: elkoshlym at yahoo.com or

Mr. Jaya Wahono

Executive Director of Libyan Indonesian Business Council

mobile: +62-811152777 email: jwahono at yahoo.ca