Abu Shiha Discusses Strengthening Partnership with the Private Sector and Improving the Business Environment with the Libyan Business Council in the Eastern Region

Tripoli, July 21, 2026 (LANA) – The Minister of Economy and Trade of the Government of National Unity, Suhail Abu Shiha, stressed the importance of strengthening the partnership between the public and private sectors and developing legislative and regulatory frameworks that support investment, in a way that contributes to increasing the private sector’s contribution to economic development, stimulating investment, and creating job opportunities.

This came during a meeting held by Minister Abu Shiha with the Libyan Business Council in the Eastern Region, in the presence of a number of council members and the Director of the Department of Economic Studies and Reforms at the Ministry.

The meeting discussed mechanisms for joint cooperation between the Ministry of Economy and Trade and the Libyan Business Council in the Eastern Region, in a manner that enhances institutional communication with the business community, contributes to conveying challenges and proposals directly, and supports efforts aimed at improving the business and investment environment across various sectors.

The participants reviewed the role of the Libyan Business Council in the Eastern Region in representing the business community and enhancing the private sector’s contribution to economic development, in addition to supporting initiatives aimed at developing the investment environment and improving the level of services related to economic activity.

The meeting also addressed a number of regulatory decisions issued by the Council of Ministers and the Ministry of Economy and Trade, including Prime Minister’s Decision No. (81) of 2025 concerning the adoption of the Regulation on Supporting and Guaranteeing the Financing of Innovative Start-up Companies, which aims to provide a supportive legislative and regulatory environment for entrepreneurs and innovative projects and enhance the growth of the national economy.

The meeting also reviewed Minister of Economy and Trade Decision No. (319) of 2026 concerning the Regulation of Controls Governing the Work of Foreign Commercial Agencies, and what it includes regarding the regulation of commercial agencies’ activities within a legal framework that enhances transparency, preserves the rights of the parties, and raises the efficiency of the Libyan market.

The meeting also discussed Minister of Economy and Trade Decision No. (254) of 2026 concerning the Regulation of Commercial Relations and Legal Distribution Channels (Principal – Agent – Authorized Commercial Representative), as one of the regulatory measures aimed at enhancing fair competition, protecting the rights of parties dealing in commerce, and improving the environment for conducting business.

During the meeting, the Minister affirmed the Ministry of Economy and Trade’s keenness to continue communication with private sector institutions, listen to their views and proposals, and work on developing economic policies and legislation in line with the requirements of the current phase, in a manner that enhances the competitiveness of the Libyan economy and consolidates an effective partnership between the public and private sectors.

...(LANA)...