Eng. Belqassem Khalifa Haftar, Chairman of Libya’s Reconstruction and Development Fund, participated in the ninth Future Investment Initiative (FII9) in Riyadh, Saudi Arabia, where he presented a comprehensive vision for a ‘New Libya’ to a global elite of economic leaders. His address highlighted the country’s drive towards sustainable development, youth empowerment, and international partnerships, drawing inspiration from Saudi Arabia’s “Vision 2030” economic transformation model.
Haftar was introduced during the main session as “the engineer leading the grand vision in Libya,” with the host underscoring that the country is “emerging from a dark phase towards promising horizons” and that the Fund he heads is currently spearheading “one of the most significant construction operations in Africa.”
In his speech, Haftar clarified that his participation aimed to deliver a distinct message: that today’s Libya is a state seeking stability, development, and openness, firmly believing that sustainable growth is the path for Africa to achieve prosperity and contribute to the wider world.
He elaborated on the achievements of the Reconstruction and Development Fund, established in 2021, asserting that its national vision extends beyond mere physical construction; it is a holistic, humanitarian process focused on building both the state and society, underpinned by stability, development, and international cooperation. Haftar stated that these foundations have facilitated the execution of over 2,000 development projects covering infrastructure, roads, housing, education, and health in under two years, a feat he attributed directly to the stability Libya currently enjoys.
Demonstrating the Libyan capacity to convert crises into opportunities, Haftar cited the reconstruction of Derna following the September 2023 cyclone, calling it a “symbol of the resilience of the Libyan people.” He also conveyed his profound gratitude to the leadership and people of Saudi Arabia for their substantial support during the ordeal, noting that the Saudi position “epitomized the depth of Arab solidarity.”
He stressed that a sweeping economic transformation is turning Libya into an “open workshop for production and reconstruction,” leading to unemployment rates dropping to their lowest level in over a decade and the creation of thousands of job opportunities for young people. He highlighted that development efforts include the revitalization of affected areas: Murzuq has recovered its stability, becoming a “symbol of peace and reconciliation,” while major projects are underway in the south to connect the desert region to the regional economy and transform it into dynamic development centers.
The Libyan development effort, Haftar emphasized, is fundamentally “people-first,” pointing to the launch of the National Scholarship Project, which is sending one thousand students to leading global universities to “prepare the future leaders capable of spearheading the transformation of the New Libya.”
The current political and security stability, he confirmed, has opened Libya’s doors to global cooperation, evidenced by the organization of economic and development forums with the United States, the United Kingdom, and Italy. International firms from China, Turkey, Egypt, Italy, Spain, France, and the UAE are currently engaged in direct partnerships with Libyan counterparts. He expressed Libya’s ambition to expand collaboration with Saudi companies, regarding the Kingdom’s developmental journey under “Vision 2030” as “inspirational and worthy of emulation.”
Looking ahead, Haftar revealed an ambitious plan to rebuild Benghazi, positioning it as Libya’s “economic capital and the largest commercial hub in North Africa and the Middle East.” This is part of a national strategy that moves beyond mere reconstruction toward building a sustainable, diversified economy based on investment and international partnerships.
Concluding with a direct appeal to global companies and investors to join Libya’s development drive. He asserted that the “New Libya” offers a unique investment proposition: a stable, open state guided by a clear vision, which believes that “true success is shared success based on cooperation, not competition.” He finished: “Libya welcomes you all. Let us build together, rise together, and invest together.”
He reiterated his thanks to Saudi Arabia for hosting the global forum, underscoring that today’s Libya is expanding development projects across all cities to improve infrastructure, health, and education services within a national trajectory aimed at achieving sustainable prosperity.