WestMED event Libya: Investing in the Sustainable Blue Economy

This event took place on February 8, 2025 in Benghazi, and was organised in cooperation with the Ministery of Investment. Its main focus was to highlight and discuss investment opportunities in the blue economy and their role in sustainable development, while at the same time  highlighting Libya’s participation in the WestMED Initiative and its significance in fostering regional collaboration.

The workshop opened with welcoming remarks and appreciation for the organizing committee. The Minister of Investment delivered the keynote speech, stressing the importance of cooperation between institutions and the need to diversify Libya’s economy beyond oil through sustainable investments. He also reaffirmed his support for the WestMED Initiative and its role in strengthening regional partnerships.

This was followed by remarks from Dr. Abeer Al-Awami, Director of Strategic Planning and Investment at the Ministry, and Masauda Abuarosha, Libya’s National Hub Representative, who introduced the WestMED Initiative and emphasized Libya’s role in advancing the blue economy. The Italian National Hub Representative, Mr. Leonardo Manzari, delivered an insightful presentation outlining the initiative’s objectives, providing real-world examples, and showcasing key achievements. His presentation was well-received by attendees.

Throughout the event, 18 presentations were delivered, covering various topics related to the blue economy, investment opportunities, and sustainable development. The discussions were engaging, highlighting both challenges and promising prospects for Libya in this sector.

The event gathered 56 attendees representing academia, research organizations, government ministries, international representatives, media, and NGOs. Notable participants included universities such as Benghazi, Tobruk, and Omar Al-Mukhtar, research bodies like the Libyan Authority for Scientific Research, representatives from multiple government ministries, the Benghazi Chamber of Commerce and Industry, and diplomatic representatives from Italy and Morocco. also from the League of Arab States.

At the conclusion of the event, certificates of appreciation were awarded to all participants, and a shield of gratitude was presented to Mr. Leonardo Manzari and Dr Masauda Abuarosha. The Minister of Investment hosted an official lunch for all attendees in recognition of their contributions.

The workshop resulted in several key recommendations, including the need to strengthen investment in the blue economy, support the private sector, enhance vocational and higher education, secure financial backing for projects, and ensure environmental sustainability.

The next workshop is planned for after Ramadan (most likely April 2025), continuing efforts to advance Libya’s blue economy.

 

For more information on this event, contact Masauda Abuarosha (WestMED National Hub Libya)