Latest news with #NicolaColicci
Libya Review
28-06-2025
- Business
- Libya Review
Can Benghazi Become Italy's Main Economic Gateway to Libya?
A delegation of around 80 Italian business leaders recently arrived in Benghazi to take part in the Libya–Italy Economic Forum for Reconstruction and Development, signaling a renewed Italian interest in engaging with eastern Libya's economic revival, according to Italy's Nova news agency. The forum marked a turning point in economic engagement between Italy and eastern Libya, bringing new momentum to bilateral trade and investment. According to Nova, the Italian business leaders arrived aboard the first direct ITA Airways flight from Rome to Benghazi. The event, co-organized by the Libyan Ministry of Foreign Affairs and the Libyan Reconstruction and Development Fund, led by Belgassem Haftar, focused on building partnerships in vital sectors such as energy, infrastructure, agriculture, logistics, and industrial manufacturing. Benghazi, once heavily affected by conflict, presented itself as a city in transformation. Nova noted that the Italian delegation visited the newly inaugurated Benghazi International Stadium and the rebuilt University of Benghazi, both symbols of post-war recovery. The skyline of Benghazi is now filled with cranes and ongoing construction projects, with Nova describing it as a dynamic urban landscape comparable to Dubai in the 1980s or Shanghai in the early 2000s. Multiple memoranda of understanding were signed with 98 Italian companies, including major names such as Iveco, Todini, Termomeccanica, and Renco. These agreements target cooperation in sectors ranging from transport and healthcare to environmental solutions and energy management. Nova emphasized that this initiative reflects Italy's strategy of establishing long-term, high-quality business partnerships in eastern Libya. Nicola Colicci, head of the Italian–Libyan Chamber of Commerce, launched a permanent office in Benghazi during the forum, declaring Italy's intention to maintain a stable presence. 'We're not here as short-term visitors,' Colicci said. 'We want to build something lasting with Libya.' This economic forum, supported by the Libyan Reconstruction Fund, is seen as a milestone in repositioning Benghazi as a central hub for foreign investment, with Italy now rising to second place among Libya's top trade partners after China, according to Nova. Tags: benghaziEconomic ForuminvestmentItalylibyaReconstruction
Libya Review
20-05-2025
- Business
- Libya Review
Clashes in Libyan Capital Disrupt Italian Business Visit
The recent outbreak of violence in Tripoli is a stark reminder of Libya's ongoing instability, said Nicola Colicci, President of the Italian-Libyan Chamber of Commerce. Speaking to the press, Colicci noted that the clashes occurred just as several Italian nationals were in Tripoli attending a trade exhibition. 'Unfortunately, the violence erupted while many Italians were present in the capital for a business event,' he said. Colicci praised Italian Ambassador Gianluca Alberini and embassy staff for their swift and efficient handling of the situation. 'The diplomatic mission managed the emergency with remarkable competence,' he stated. He emphasised that this was the first time in 14 years that Europeans had directly witnessed such violence in Libya, citing the only exception as the ISIS kidnapping of two individuals in 2015. 'As economic stakeholders, we hope this crisis marks a turning point toward long-term stability,' Colicci said. He reiterated the Chamber's commitment to strengthening the presence of Italian small and medium-sized enterprises (SMEs) in Libya, describing it as one of the most promising foreign markets for Italian businesses today. Colicci further stressed that true stability in Libya depends on the growth of a broad-based private sector, which could shift the nation away from its long-standing reliance on government subsidies and foster opportunity for the country's youth. 'A strong and expanding private economy is key to reshaping Libya's future,' he added. Libya has been in chaos since a NATO-backed uprising toppled longtime leader Muammar Gaddafi in 2011. The county has for years been split between rival administrations. Libya's economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya's economy. The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions. The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition. Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges. Tags: Italian Chamber of CommercelibyatripoliViolence
