Libya is set to sign a strategic partnership on Sunday with international companies to expand and develop the Misurata Free Zone, a move expected to attract around $2.7 billion in investment, Prime Minister Abdulhamid Dbeibah announced on X.
The agreements, involving Qatari, Italian and Swiss firms, are projected to generate annual operating revenues of roughly $500 million, marking a significant step in Libya’s efforts to diversify its economy.
Dbeibah said the project would strengthen Libya’s standing among the region’s largest ports in terms of size and capacity, adding that it is built on direct foreign investment through a comprehensive international partnership.
He described the initiative as a reflection of the government’s commitment to drawing productive external financing to stimulate economic growth, modernise infrastructure and convert state assets into platforms for sustainable returns.
The development is expected to create about 8,400 direct jobs and an estimated 60,000 indirect roles, while increasing the terminal’s handling capacity to four million containers per year.
Spread across approximately 190 hectares, the Misurata Free Zone is poised to become a central pillar in Libya’s ambitions to reduce its heavy dependence on oil, which currently accounts for more than 95 per cent of the country’s economic output.
Misurata, a key port city located around 200 kilometres east of Tripoli, has long held strategic importance for Libya’s trade ambitions.
The latest announcement comes against the backdrop of years of political instability following the NATO-backed uprising in 2011, which led to a division between eastern and western factions governed by rival administrations.
Despite these challenges, the government is positioning the Misurata project as a bold statement of confidence in Libya’s economic future.