The Libyan Investment Authority (LIA) said that its investment situation in Egypt is good, and it was seeking to develop it, denying what was circulated by some media outlets and social media pages about putting an amount of five billion dollars for new investments in Egypt.
LIA's media advisor, Louay Al-Greyo, denied that they had recently pumped five billion dollars to increase investments in Egypt. He added that LIA's existing investment activity in Egypt is good, with the hope that it will be developed in the future within the framework of the good relations between the two countries, and in a way that would serve the interests of the two peoples. He called on the media to be accurate and obtain such news from official sources.
This news circulated at a time when the Libyan Investment Authority was participating in the Cairo International Exhibition “EECA EXPO 2024”, which was held during the period from February 29 to March 9, according to Egyptian media.
On March 4, the Egyptian "Youm7" website published a statement attributed to LIA stating that it had “allocated an investment portfolio worth up to $5 billion to invest, finance, and share investment opportunities in Egypt or LIA's branches.”
