{
  "id": 18329665,
  "title": "Building a more united Libya through investment, industry and economic opportunity",
  "url": "https://urgent.news/2026/11/05/building-a-more-united-libya-through-investment-industry-and-economic",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-05T14:51:00.000Z",
  "source": {
    "name": "Gulf Times Business",
    "slug": "gulf-times-business",
    "url": "https://www.gulf-times.com/article/737578/business/building-a-more-united-libya-through-investment-industry-and-economic-opportunity"
  },
  "original_language": "en",
  "account": "In Libya, there is a growing belief that economic cooperation can be a powerful tool for fostering unity among its people. By focusing on shared investments in infrastructure and industry, Libya has the potential to create a more cohesive nation. The United Arab Emirates has demonstrated this approach, with its seven emirates working together due to shared investment in infrastructure. Similarly, the UAE's initiative of distributing its oil wealth to promote pan-federation development has helped to instill a sense of collective economic interest.\n\nConsider the case of Libyan dates, grown across various regions and requiring processing, packaging, and export. The journey of a box of exported dates involves multiple steps that employ workers and connect businesses in different areas. This not only generates employment but also encourages inter-regional cooperation. One company that has adopted this approach is Zulfa Food Industries, which is developing a milk and juice processing facility in Benghazi at a cost of approximately 14 million Euro. The facility uses advanced technology, such as Ultra High Temperature (UHT) processing, to ensure longer shelf life without refrigeration. The success of such ventures creates a symbiotic relationship between businesses and communities, rather than relying on imported goods.\n\nLibya also has the potential to benefit greatly from large-scale industrial developments. The country's United Steel Company, in partnership with Turkish giant Tosyalı Holding, is constructing a $2.5 billion Direct-Reduced-Iron (DRI) complex. This project, set to reach an 8.1 million-ton annual production capacity by early 2028, will diversify Libya's economy and position it as an industrial producer with access to international markets. The project will create over 7,000 jobs, providing Libyans with valuable skills in construction, engineering, metallurgy, and logistics. This initiative not only brings foreign investment and technology but also fosters cooperation between diverse ethnic groups.\n\nTo fully realize these economic opportunities, Libya needs a robust financial system. Wahda Bank's new partnership with Dutch banking technology company Backbase will provide Libyans with digital banking services, allowing farmers and exporters in different regions to settle payments instantly and easily. This modernization will improve trade connections within Libya and with the wider Gulf and Middle East regions, ultimately leading to a more diversified and resilient economy.",
  "summary": "When thinking about Libyan national unity, people tend to view it primarily through a lens of politics, historical happenings and institution building. A viable alternative approach however, may be vi...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}