Egypt’s Real Estate Development Chamber (REDC), part of the Federation of Egyptian Industries (FEI), has started exploring significant investment opportunities in Libya’s reconstruction efforts.
Osama Saad El-Din, Executive Director of the REDC, revealed that an Egyptian delegation, led by the FEI, recently visited Libya to strengthen economic ties and cooperation between the two nations.
During the visit, two Memorandums of Understanding (MoUs) were signed by the Federation of Egyptian Industries. One with the President of the Federation of Chambers of Commerce, Industry, and Agriculture in Tripoli, and another with the President of the Federation of Chambers of Commerce, Industry, and Agriculture in Benghazi.
The agreements aim to enhance collaboration and exchange investment expertise between the two countries, particularly in reconstruction projects.
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Mohamed El-Bahi, representing the Egyptian delegation, signed the MoUs, which are expected to facilitate Egyptian companies’ participation in Libya’s rebuilding efforts.
Saad El-Din highlighted the expertise of Egyptian real estate development companies, particularly in implementing large-scale urban development projects.
He noted that Libya, in its post-conflict reconstruction phase, could greatly benefit from Egypt’s experience in building new cities and integrated urban communities.
The visit also emphasized the potential for Egyptian construction materials to enter the Libyan market. As Libya embarks on reconstruction, it will provide a significant market for Egyptian building materials, supporting Egypt’s export economy.
The delegation also discussed facilitating the movement of Egyptian laborers to Libya, simplifying procedures to enable thousands of workers to participate in rebuilding the country.
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Saad El-Din underscored the deep historical and economic ties between Egypt and Libya, as well as shared security interests. He emphasized that Egypt’s involvement in Libya’s reconstruction is not just an investment opportunity but also a national duty, further solidifying the longstanding relationship between the two nations.
