The UAE and Libya have agreed to set up a joint investment fund with a paid up capital of Dh11 billion to carry out projects in the two Arab countries, a Libyan official was quoted on Thursday as saying.
Jamal Al Lammouchi, General Secretary of the Directive Committee of the General Board of Privatization and Investment, said the fund would be equally shared between the two countries and would take advantage of massive investment opportunities arising from ongoing privatization in Libya.
Quoted by the semi-official daily Al Ittihad, he said Libya is also seeking UAE expertise in managing its new Tripoli airport and is ready to discuss with Dubai World its possible management of ports in the North African Arab nation.
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