logo
Memorandum signed by Libyan-Chinese Economic Chamber with Shouguang Huchen

Memorandum signed by Libyan-Chinese Economic Chamber with Shouguang Huchen

Libya Observer10-05-2025

The Libyan-Chinese Joint Economic Chamber signed a strategic cooperation memorandum with the Shouguang Huchen Chemical Industry Association in China.
This came during the Chamber's delegation visit to the Shouguang Huchen industrial city—known for its leadership in chemical and petrochemical industries—according to a statement published Thursday on the Chamber's Facebook page.
The delegation held an extensive meeting with the Association's president and several business figures, during which both sides discussed ways to expand industrial and commercial cooperation between Libya and China, particularly in the fields of chemical products and investment exchange.
The Chamber stated that this visit opens the door to a new phase of direct cooperation between the Libyan private sector and Chinese industrial institutions, in line with Libya's economic vision and offering promising prospects for integration and economic exchange. Tags: Libyan-Chinese Economic Chamber China

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

The Italian-Libyan Chamber of Commerce intends to open a branch in Benghazi
The Italian-Libyan Chamber of Commerce intends to open a branch in Benghazi

Libya Observer

timea day ago

  • Libya Observer

The Italian-Libyan Chamber of Commerce intends to open a branch in Benghazi

The president of the Italian-Libyan Chamber of Commerce, Nicola Colcci, has said that the chamber intends to open an office in Benghazi to work closely with local business representatives. "We are working in great harmony with Libyan institutions," Colicci explained to the Italian Nova Agency. He explained that the goal is to establish cooperation between Italian and Libyan small and medium-sized companies to develop a joint business network and exchange technologies and expertise to access African markets that Libya has already reached. Benghazi is preparing to host Italian companies interested in expanding into Libya as part of the Libyan-Italian Economic Forum, scheduled to take place from June 24 to 27, according to Italian media. Economy Tagged: Italian-Libyan Chamber of Commerce Italy

Dbeibah warns of new financial catastrophe orchestrated by HoR led by Aqila Saleh
Dbeibah warns of new financial catastrophe orchestrated by HoR led by Aqila Saleh

Libya Observer

time5 days ago

  • Libya Observer

Dbeibah warns of new financial catastrophe orchestrated by HoR led by Aqila Saleh

Prime Minister of the Government of National Unity, Abdul Hamid Dbeibah, has rejected the budget approved by the House of Representatives for Belgassim Haftar's reconstruction fund, describing it as 'reckless.' In a meeting of the Council of Ministers in Tripoli, Dbeibah said that approving a budget for a single entity while blatantly ignoring more than 20 official institutions of the state is a clear attempt to seize oil revenues without any financial or legal oversight. He stressed that any spending outside the official budget will drive the dollar exchange rate up and increase inflation at the expense of the citizen, emphasizing that such projects serve political propaganda, not development, and are funded from the pockets of Libyans, draining what remains of the nation's resources. The Prime Minister added that parallel spending has exceeded 100 billion dinars in two years without any controls or oversight, warning that such recklessness threatens the Libyan dinar and must stop. He called on the Attorney General, the Audit Bureau, and the Administrative Control Authority to reveal the truth to the public without hesitation. Dbeibah warned of a new financial disaster being created by the House of Representatives under the leadership of Aqila Saleh, stating that there is no justification for reconstruction claims if they are merely used as a cover for looting public funds and destroying the economy. Tags: Abdul-Hamid Dbeibah House of Representatives Libya Development and Reconstruction Fund

Dbeibah calls on HoR Speaker to disclose fate of 100 billion dinars spent outside official budget in the past 2 years
Dbeibah calls on HoR Speaker to disclose fate of 100 billion dinars spent outside official budget in the past 2 years

Libya Observer

time03-06-2025

  • Libya Observer

Dbeibah calls on HoR Speaker to disclose fate of 100 billion dinars spent outside official budget in the past 2 years

Prime Minister of the Government of National Unity, Abdul Hamid Dbeibah, has called on Speaker of the House of Representatives, Aqila Saleh, to disclose the fate of more than 100 billion Libyan dinars that were spent outside the official budget over the past two years. Dbeibah reiterated his government's firm rejection of any parallel public spending paths that fall outside legitimate frameworks. The statement came during a meeting Dbeibah held on Monday at the Prime Minister's Office in Tripoli with several members of the High Council of State to discuss current political and economic developments, monitor the government's stability plan, and address efforts to unify institutions and protect the national economy from what he described as "parallel financial chaos," according to the "Hakomitna" platform on Facebook. During the meeting, Dbeibah warned that these parallel financial practices impose massive burdens on the state, as funds are spent in non-genuine areas and later offset through public debt — effectively deducting from citizens' pockets and diminishing the real value of their incomes. He stressed that the Libyan people do not benefit from projects implemented at inflated costs outside the unified financial system, questioning: 'What's the point of projects implemented at double the cost, only to be paid for through public debt, which comes directly out of citizens' pockets?' The Prime Minister's comments were a direct reference to ongoing HoR discussions regarding the proposed budget for the 'Libya Development and Reconstruction Fund,' headed by Belgassim Haftar and linked to the parallel government in the east. Dbeibah renewed his demand for Aqila Saleh to reveal the fate of over 100 billion dinars spent outside the official budget in the past two years. He emphasized that this demand is not merely about transparency, but a direct consequence of the impact such spending has had on the Libyan dinar's value and the resulting negative effects on citizens' incomes and market confidence. He noted that several economic experts have warned that approving an alternative budget — despite its legal violations — could directly lead to a rise in the dollar exchange rate in the parallel market, due to shaken financial confidence and increased pressure on reserves. This, in turn, threatens currency stability and the standard of living for Libyans. He said that the national and legal responsibility lies with all institutions to halt this financial spending, defend the unity of public finances, and safeguard the stability of Libya's economy and currency.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store