logo
Aldabaiba opens First Phase of Tripoli's Third Ring Road

Aldabaiba opens First Phase of Tripoli's Third Ring Road

Libya Herald09-07-2025
‎Tripoli based Libyan Prime Minister, Abdel Hamid Aldabaiba, inaugurated the First Phase of the Third Ring Road Project Tripoli last Monday (7 July), in the presence of (one of) the Presidents of the High Council of State, Mohamed Tekala, a number of ministers, ambassadors, senior officials, representatives of the executing companies and the consulting office.‎
‎Largest infrastructure achievement in Libya in more than 30 years
The Tripoli government says the project is the largest infrastructure achievement in Libya in more than 30 years, and represents a strategic step to improve traffic, reduce pressure within the capital, and connect its neighbourhoods and main entry ways, as part of a government plan aimed at comprehensive modernisation of the service infrastructure.‎
‎In his speech ‎‎during the opening, the Prime Minister welcomed the attendees and thanked all those who contributed to the implementation of the project, led by the Housing and Infrastructure Board (HIB), the consortium of Egyptian executing companies, the consulting office, as well as teams of engineers, workers, local companies, and national elements.‎
‎Aldabaiba also appreciated the patience and understanding of citizens during the period of opening lanes and traffic diversion works, considering this popular cooperation an important motivation for the success of the project.‎
‎First Phase: From Ghout Al-Shaal Roundabout to Airport Road
The Prime Minister explained that the first phase of the project extends from Ghout Al-Shaal Island to Airport Road, with a length of 6 km, and includes 3 lanes in each direction, 12 km of service roads, 4 car bridges, 3 pedestrian bridges, in addition to an integrated lighting network, and a modern rainwater drainage system.‎
‎Broader vision that includes modernizing infrastructure
Aldabaiba stressed that the project will contribute to reducing congestion, raising the level of safety, shortening travel times, and improving the quality of life within the capital, adding that this project does not come in isolation from a broader vision that includes modernizing infrastructure in Tripoli and all Libyan cities.‎
‎Implementing stalled projects using domestic and regional companies
He pointed out that the government is continuing to implement major projects, despite financial and administrative challenges, and that it relies on national will and local capabilities, in addition to regional cooperation to implement projects that have been stalled for years.‎
‎At the end of his speech, the Prime Minister stressed that the fulfilment of promises despite difficulties is proof that hard work is possible when there is intention. ‎
‎Aldabaiba also called on citizens to preserve the road as a collective responsibility, pointing out that this achievement is not the end of the road, but the beginning of a new phase of real construction to serve Tripoli and all of Libya.‎
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

International information received on suspicious activities passing through Libyan financial system: CBL
International information received on suspicious activities passing through Libyan financial system: CBL

Libya Herald

time10 hours ago

  • Libya Herald

International information received on suspicious activities passing through Libyan financial system: CBL

‎The Central Bank of Libya's (CBL) National Committee for Combating Money Laundering and Terrorist Financing issued the following statement today: ''‎We affirm that responding to the increasing challenges facing the financial system of the Libyan state represents a national responsibility that requires the concerted efforts of all concerned parties.‎ ‎It is necessary to adopt an integrated legislative and institutional framework in line with international standards, to ensure that Libya remains within the global financial system.‎ ‎- The receipt of international information regarding suspicious activities suspected of passing through the Libyan financial system, which reflects the fragility of the current system and exposes the State to the possibilities of international legal accountability.‎ ‎We call for the speedy adoption of the draft Anti-Money Laundering and Combating the Financing of Terrorism Law, as a key step towards meeting the requirements of the Financial Action Task Force (FATF) and enhancing confidence in the Libyan financial system.‎ ‎Any delay in this regard will expose Libya to serious risks to the reputation of the Libyan financial system and economic and livelihood stability.‎ ‎We call on all authorities, especially legislative, executive, judicial and supervisory authorities, as well as law enforcement agencies, to shoulder their responsibilities and take the necessary urgent measures to ensure the integrity of the financial system and the protection of the national economy.''‎

Minister of Economy discusses regulating priorities of market needs and import budget
Minister of Economy discusses regulating priorities of market needs and import budget

Libya Herald

timea day ago

  • Libya Herald

Minister of Economy discusses regulating priorities of market needs and import budget

‎The Tripoli based Libyan Minister of Economy and Trade, Mohamed Al-Hwej, held a meeting at the Ministry's Tripoli office today, in the presence of the advisory team and the Director of the Internal Trade Department, within the framework of following up on the mechanisms of regulating import operations through banking instruments, and preparing the import budget to ensure that the needs of the local market are met according to priorities.‎ ‎Small traders call for support with easier payment mechanism The meeting addressed the most prominent challenges facing companies and suppliers in completing import procedures through commercial banks, including difficulties related to the use of approved banking instruments. Several representatives of companies and traders also called for the Ministry's intervention at the Central Bank of Libya to facilitate procedures and support small traders, by activating electronic means of payment and organizing import operations to achieve competitive justice in the local market.‎ ‎Harmonizing monetary, financial and trade policies For his part, the Minister confirmed that the Ministry has developed an integrated vision to regulate the import budget, and that it is in the process of presenting this vision during an upcoming meeting that brings together the Governor of the Central Bank of Libya, the Minister of Finance, the National Economic and Social Development Board (NESDB), and the President of the General Union of Chambers of Commerce, Industry and Agriculture. This vision aims to harmonise monetary, financial and trade policies in a way that serves the national economy, strengthens the dinar, and helps the Central Bank in implementing its policies for economic reforms in line with the three financial, commercial and monetary policies.‎ Analysis: Tension between the CBL and the Ministry – Achieving a balance It must be noted that there exists, and has existed for decades, a fundamental tension between the aims of the Central Bank of Libya and the Economy Ministry. Monetary control On the one hand, the Central Bank of Libya wishes to achieve monetary control, the reduction of the cash economy and inflation, and defending the foreign exchange value of the Libyan dinar through limiting imports to those transacted through banking instruments such Letters of Credit (LCs). LCs force importers to deposit their cash into their bank accounts. Smooth supply of goods to keep prices down On the other hand, the Economy Ministry aims to ensure the smooth flow of the import of goods to supply the market, including enabling the large number of small importers who operate largely using cash through the foreign exchange black-market. Typically, these smaller importers would react to short-term gaps in the market or offers of discounted goods abroad to strike fast deals. They would be traders who would buy goods in neighbouring Tunisia or Egypt and quickly transport them by road across the borders. Another important sub-category are fresh fruit and vegetables importers buying in cash from Egyptian or Tunisian farmers/middlemen who do not use the bureaucratic and slow banking system as a mode of receiving payment. Redistribution of wealth, helping SMEs, creating enterprise and jobs Moreover, the strata of cash-paying importers is usually made up of SMEs that the government does not have to find jobs for. They are an enterprising group of small businesses who create jobs. A complete clampdown on their activities would lead to other possible economic and social negative consequences. It would be seen as an attack on the poorer in favour of what is referred to in Libya as the ''fat cats'' that open LCs in the millions. The CBL policy has failed before The Central Bank of Libya seeks to stop imports that are not paid for through banking instruments in its fight against the black-market and its defence of the FX rate of the dinar. However, this policy has been attempted in the past – unsuccessfully. Such a complete shutdown had led to a shortage in the supply of goods, the hoarding of goods and sharp price rises. The price rises had resulted in political pressure on the government of the day and a relenting and reversal of the policy. There are fundamental flaws in Libya's monetary and financial system leading to distortions in the market and the economy. The independent-from-the-government Central Bank of Libya and the government must arrive at a workable compromise solution whereby goods arrive regularly and smoothly in the Libyan market while the negative effects of the FX black-market and inflation are negated, and the weak dinar is defended.

Minister of Economy discusses trade movement through Ras Jedir Libyan Tunisian land border
Minister of Economy discusses trade movement through Ras Jedir Libyan Tunisian land border

Libya Herald

timea day ago

  • Libya Herald

Minister of Economy discusses trade movement through Ras Jedir Libyan Tunisian land border

‎The Tripoli based Libyan Minister of Economy and Trade, Mohamed Al-Hwej, discussed the progress of trade movement through the Ras Jedir Libyan-Tunisian land border, during a meeting held yesterday at the Ministry's Tripoli office. The meeting was held in the presence of the Director General of the General Union of Chambers of Commerce, the President of the Libyan Tunisian Chamber of Commerce, several of owners of Libyan industrial and commercial companies dealing with the private sector in Tunisia, and the Director of the Quality Department at the National Centre for Standardization and Standards.‎ ‎The meeting was dedicated to discussing the problems and obstacles facing Libyan companies in exporting local products to the Tunisian market, which have obtained a certificate of conformity to the approved standards, which allows the entry of Libyan goods into the Tunisian market under the agreement of recognition and ratification of the certificate of conformity in both countries.‎ ‎The Minister confirmed that the Ministry of Economy and Trade has concluded a number of trade agreements and memoranda of understanding with the Tunisian Ministry of Trade, under the auspices of the Libyan Prime Minister, within the framework of supporting economic cooperation and trade exchange between the two countries. ‎ ‎He also directed the competent departments of the Ministry and the Libyan Tunisian Joint Chamber of Commerce to organize a meeting with the Tunisian side and the relevant Libyan institutions and centers. The meeting is to seek to solve the problems and obstacles facing the trade movement between the two countries, and to follow up on the implementation of the demands of the owners of the companies regarding the technical and control procedures in coordination with the competent authorities in the Libyan state.‎

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store