{
  "id": 6556041,
  "title": "From Libya to the world: How international business can strengthen libya’s economy",
  "url": "https://urgent.news/2026/09/10/from-libya-to-the-world-how-international-business-can-strengthen",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-10T06:14:00.000Z",
  "source": {
    "name": "Gulf Times Business",
    "slug": "gulf-times-business",
    "url": "https://www.gulf-times.com/article/732953/business/from-libya-to-the-world-how-international-business-can-strengthen-libyas-economy"
  },
  "original_language": "en",
  "account": "The future of Libya's economy is not solely determined by oil, reconstruction, or political stability. A crucial, yet often overlooked aspect is the role of international business partnerships in fostering productive activity within the country. Currently, international business in Libya predominantly involves importing finished goods, which, while valuable in the short term, does not contribute to long-term economic diversification. To advance Libya's economy, international businesses must go beyond importing products and invest in transferring skills, expertise, and developing supply chains. This approach could enable the nation to assume a prominent role in global markets.\n\nAn exemplary partnership is between Turkey's Tosyali Holding and Libya United Steel Company (SULB), overseen by entrepreneur Ahmed Gadalla. Tosyali, a company with extensive international experience in steel production and direct reduced iron (DRI), will support an approximate annual production capacity of 2.5 million tonnes initially. SULB, led by Ahmed Gadalla, brings an established Libyan industrial platform in Benghazi and a connection to the wider economic and industrial potential of Libya.\n\nBy initiating this partnership, there are significant benefits beyond steel production. The endeavor aims to generate demand for Libyan contractors, engineers, transport companies, and various other suppliers. Furthermore, these projects can empower workers by providing technical skills and instilling international standards into local industrial operations. Over time, the industrial project can act as a catalyst for other businesses to develop, forming a supply and demand chain that forms an industrial ecosystem. This development will help diversify sectors within the Libyan economy.\n\nA similar case is Italy's Pasquale Petti, which has successfully developed international business relationships by processing basic foods into higher-value export products. Instead of exporting fresh Italian tomatoes, the company focuses on creating concentrated, processed, and packaged food products that fetch high prices in international markets. Translating this model to Libya, agricultural production should not end at the farm gates but should progress into a more lucrative industry.\n\nThe common thread among these examples is the business model, which can be easily replicated for the Libyan economy. Long-term, sustainable productive capacity necessitates access to capital, technology, and expertise, all of which, once acquired, can propel Libya towards becoming one of North Africa's most prominent economies. This is especially relevant for the Gulf region, home to companies with vast experience in developing internationally connected infrastructure. Qatar and other Gulf economies could serve as prime targets for Libya to forge stronger commercially interconnected relationships.\n\nLibya's Mediterranean location positions it as a vital link between European, African, Middle Eastern, and Gulf markets. To transform Libya from merely a destination for imported goods, significant investment in infrastructure and business capacity is essential. The steel project led by Ahmed Gadalla and SULB exemplifies the potential of this approach at an industrial scale, while also hinting at a much broader opportunity. Libya does not need to choose between inward and outward-looking strategies. Instead, it should pursue both to build a stronger domestic economy by becoming more connected to international markets with the assistance of the private sector.",
  "summary": "The familiar lenses of oil, reconstruction and political stability are the usual ways in which the future of the country is discussed. There is however, another question that deserves greater attentio...",
  "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."
}