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LibyaBuild 2008

LibyaBuild 2008

Libya

Hekim Yapı, participating to 5th LIBYABUILD International Building Exhibition held between the dates of 19-22 May for the first time met with great interest.
270 companies from several countries participated in the exhibition and participation from Turkey was 56.
With a population of 6 million, Libyan economy has leapt forward in every field in the last 10 years, especially after embargo was lifted. Libyan companies are now trying to establish new markets for economic investment to form a strong economic structure similar to those of Arab and neighboring countries. A new course of action was specified between Turkey and Libya with the Turkey-Libya Joint Economic Commission meeting between the two countries.
Libya is one of the most significant countries for Turkish construction companies. Libya has been a significant buyer especially for building materials and the total value of the projects finished by Turkish companies has reached $30 billion. There are about 70 construction companies in the country and $35 billion has been allocated in 2007 and $25 billion in 2008 for the events of Kaddafi’s 40th year in power to be celebrated in 2009. Turkish companies had a business volume of $1.6 billion in 2006. Turkish construction companies are in the front with a total of 5 billion of business volume for 2007 when assumed projects per country is observed. Russia, Qatar, Turkmenistan and Kazakhstan follow Turkey respectively.