Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Egypt's SCZONE welcomes Zhejiang Province delegation for trade talks    Beltone Venture Capital partners with Citadel International to manage $30m startup fund    S. Africa to use contingency reserves to tackle debt    Gaza health authorities urge action for cancer, chronic disease patients    Transport Minister discusses progress on supplying new railway carriages with Hungarian company    Egypt's local gold prices see minor rise on April 18th    Expired US license impacts Venezuela crude exports    Taiwan's TSMC profit ups in Q1    Yen Rises, dollar retreats as G7 eyes currency calm    Egypt, Bahrain vow joint action to end Gaza crisis    Egypt looks forward to mobilising sustainable finance for Africa's public health: Finance Minister    Egypt's Ministry of Health initiates 90 free medical convoys    Egypt, Serbia leaders vow to bolster ties, discuss Mideast, Ukraine crises    Singapore leads $5b initiative for Asian climate projects    Karim Gabr inaugurates 7th International Conference of BUE's Faculty of Media    EU pledges €3.5b for oceans, environment    Egypt forms supreme committee to revive historic Ahl Al-Bayt Trail    Debt swaps could unlock $100b for climate action    Acts of goodness: Transforming companies, people, communities    Eid in Egypt: A Journey through Time and Tradition    President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution    Amal Al Ghad Magazine congratulates President Sisi on new office term    Tourism Minister inspects Grand Egyptian Museum, Giza Pyramids    Egypt's healthcare sector burgeoning with opportunities for investors – minister    Egypt starts construction of groundwater drinking water stations in South Sudan    Russians in Egypt vote in Presidential Election    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program"    Egypt's powerhouse 'The Tank' Hamed Khallaf secures back-to-back gold at World Cup Weightlifting Championship"    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    Egypt builds 8 groundwater stations in S. Sudan    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt planning for opportunities in Libya's reconstruction
Published in Amwal Al Ghad on 04 - 08 - 2019

Egypt is working to ease the entry of tens of thousands of Egyptian workers to eastern Libya as that part of Libya becomes more politically stable.
Egyptian and Libyan authorities have established two coordination offices along the countries' borders to coordinate the entry of Egyptian workers into Libya for reconstruction purposes.
"The parliament and the Labour Ministry work to ease the participation of Egyptian workers in Libya's reconstruction in coordination with Libyan authorities," said Abdel Fattah Mohamed, a member of the Labour Committee in the Egyptian parliament. "Improving security conditions in Libya will increase the flow of local workers to this country."
Millions of Egyptians worked in Libya before the country descended into chaos in 2011. Egyptians worked in all sectors of the Libyan economy, especially in construction.
After 2011, Egyptian nationals were targeted by Islamist militias, a drive that manifested itself brutally in February 2015 when the Libyan branch of the Islamic State killed 21 Christian workers.
Soon after that incident, a huge number of workers returned home, swelling the ranks of the unemployed in Egypt.
Their return was viewed by security analysts as a conspiracy by Egypt's regional rivals, especially Turkey and Qatar, which sponsor Islamist militias in Libya, given the size of remittances sent home by the workers as well as the burden their return constituted to the Egyptian economy.
To avoid the possible unrest stemming from the inability of those returning from Libya to find work, Cairo initiated tens of billions of dollars in construction projects, including new cities, roads and bridges. Those efforts were also part of Egypt's overall development plans.
Libyan trade union officials visit Egypt to hammer out deals and draw attention of the needs of post-war Libya to Egyptian construction companies.
A Libyan Trade Chambers Association delegation visited Egypt in March and met officials at the Federation of Egyptian Industries. Mohamed Raied, who led the delegation, referred to strong demand in Libya for Egyptian construction companies and workers
A delegation of Egyptian businessmen visited eastern Libya in May to assess business opportunities and needs.
"Our companies are ready for Libya's reconstruction at all levels," said Walid Gamal Eddine, chairman of the Construction Materials Export Council. "We are still waiting to be part of this reconstruction, even through partnerships with Libyan companies."
Apart from being an opportunity for Egyptian labour, Libya's reconstruction opens business opportunities for Egyptian construction material producers, especially in the presence of huge surpluses.
In 2018, for example, there was a cement production surplus of about 33 million tonnes. Egypt's overall cement production was expected to reach 100 million tonnes by next year.
Libya's infrastructure, tourism, electricity and communications sectors are especially of interest for Egyptian companies. Projects in the first phase of Libya's reconstruction are expected to cost approximately $20 billion to implement, the Libyan Trade Chambers Association said.
Major Egyptian construction companies are reportedly contacting financing agencies, including the African Development Bank, the World Bank and the European Investment Bank, to bankroll projects in Libya.
However, shaky security conditions could scare companies away from Libya.
Competition from Chinese and Turkish companies is another challenge for Egyptian firms, especially with most companies from those counties not having the same financing problems Egyptian companies face.
Egypt, economists said, is in a good position to win a share of Libya's reconstruction because of its proximity to Libya and the strong relations between Cairo and eastern Libya authorities.
"State authorities have to offer backing to national companies as they try to be part of Libya's reconstruction," said Yumn al-Hamaqi, an economics professor at Cairo University. "Egypt has to take Libya's reconstruction very seriously before it is left out of this process, especially in the presence of fierce competition from other countries."
Source: The Arab Weekly


Clic here to read the story from its source.