A major step toward strengthening Libya’s international investment landscape took place in Paris as the National Development Agency (NDA) of Libya signed a strategic Memorandum of Understanding with Business France. The signing, hosted at the Élysée Palace, marks a significant expansion of economic cooperation between the two nations.
The agreement sets the foundation for increased collaboration in investment promotion, SME development, and innovation-led growth. It also aligns with ongoing national efforts to rebuild Libya’s economic infrastructure and reduce long-term reliance on oil revenues.
The MoU was signed under the supervision of NDA Director General Dr. Mahmud Elforjani, with Faraj Aljarih, Director of International Cooperation, representing the Libyan side. French officials, including Paul Soler, Thierry Vallat, and Benoît Trivulce, were present to signal their endorsement. Eng. Belqasim Haftar of the Libya Development and Reconstruction Fund also attended.
While in Paris, Dr. Elforjani addressed the Ambition Africa 2025 summit, presenting “Libya Vision 2030”—a national roadmap focused on sustainable growth, renewed infrastructure, and expanded regional integration. He outlined several major NDA-led projects: the Sirte Gulf International Airport, designed to serve up to three million passengers per year; the Sirte-Sokna-Sebha (SSS) Road, envisioned as a key trade corridor; agricultural rehabilitation initiatives to reinforce food security; and upgrades to schools, clinics, and housing.
Dr. Elforjani also introduced a new investment incentive package tailored specifically for French companies, offering streamlined access to NDA-backed projects and opportunities in the Sirte Free Zone. He emphasized that Libya is seeking strong, long-term partners committed to building the foundations of a modernized economy.
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