Chairman of the General Authority of Free Zones and Investments (GAFI) Mohamed Abdel Wahab and head of the Libyan Investment Authority Ali Mahmoud Hassan during their meeting on Thursday April 29, 2021. Photo courtesy of The Egyptian cabinet Facebook page
Chairman of the General Authority of Free Zones and Investments (GAFI) Mohamed Abdel-Wahab discussed on Thursday with head of the Libyan Investment Authority Ali Mahmoud Hassan stepping up investments between the two sides.
Abdel-Wahab said the meeting tackled joint investment opportunities and addressed the means to facilitate the flow of Libyan investments to Egypt.
He briefed Hassan on the available investment opportunities in national mega projects, including the New Administrative capital and New Alamein city.
The Libyan Investment Authority is the sovereign wealth fund of Libya. It was established on 28 August 2006 to manage the surplus of Libyan oil. With assets surpassing $67 billion, the authority includes 550 investment companies operating in three continents.
The meeting between Abdel-Wahab and Hassan came on the heels of Prime Minister Mostafa Madbouly's directives to follow up on the outcome of the Egyptian delegation's latest visit to Tripoli.
The visit was the first by an Egyptian premier to Libya in recent years. Many cooperation agreements were signed during the visit.