Foreign direct investment in Libya has failed to pick up significantly following the 2011 civil war, which has also destroyed manufacture and logistics networks. Heightened security risks and an opaque business environment will continue to dent investors’ confidence over the coming year, with negative repercussions expected, especially for the non-oil economy. Indeed, Libya’s parliamentary chief and de facto head of state Mohammed Magariaf warned in a televised speech on February 17 2013 that foreign companies’ reluctance to invest in the country will significantly slow the country’s development, boding poorly for the medium-term economic outlook and, thus, its consumer spending. Headline …
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