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Monday, 18 December 2017

Priority will be given to Egyptian companies in the reconstruction of Libya

Priority will be given to Egyptian companies in the reconstruction of Libya, said Osama Hamad, Finance Minister of Libya’s Government of National Accord. “Egyptian companies have the ability to accomplish anything, and this is what we’ve seen in our visit to the Suez Canal Economic Zone during our tour,” Hamad tells state-owned news agency MENA. The Libyan government had announced back in 2012 that Egyptian companies will take part in USD 9 bn worth of projects as part of Libya’s reconstruction, according to Daily News Egypt. Real estate development alone amounted to USD 5 bn, with Orascom and Hassan Allam Holding being the most prominent names in the list of companies participating in the reconstruction drive.

On the political front, elections in Libya appear to be high on people’s minds. Egypt, Tunisia, and Algeria called for all parties to swiftly reach a political solution to allow for safe and timely elections. The three reiterated their support for Libya’s national reconciliation through political dialogue, the three countries’ foreign ministers said in a statement yesterday following a tripartite meeting in Tunisia. The statement called on all Libyan factions to disarm in order to protect the country’s best interests, and unify their institutions, including the Libyan army.

Libyan political factions are jockeying for positions ahead of the planned elections, which are expected next year. Eastern Libyan military commander Khalifa Haftar, whose forces are backed by Egypt, said on Sunday the UN-backed government was obsolete and he would listen to the will of the people, a firm hint he may run in elections expected next year, according to Reuters.

But perhaps the most surprising news appears to be Seif Al Islam Al Gaddafi planning to run for president, the family’s spokesman, Basem al-Hashimi al-Soul, confirmed to RT. The son of deposed Libyan leader Muammar Gaddafi said he would run on a platform of restoring security. We anticipate this will go as smoothly as Ahmed Shafik’s current presidential run.

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