Chinese companies prepare to return to Libya
- By Yan Pei
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China.org.cn, September 14, 2011
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According to China's Ministry of Commerce, Chinese companies had invested US$18 billion in Libya before the unrest. [File photo] |
![According to China's Ministry of Commerce, Chinese companies had invested US$18 billion in Libya before the unrest. [File photo]](http://images.china.cn/attachement/jpg/site1007/20110914/0011111fa1560fda9c8b0b.jpg "According to China's Ministry of Commerce, Chinese companies had invested US$18 billion in Libya before the unrest. [File photo]")
Chinese companies that have unfinished projects in Libya finally got some sense of relief as Libyan's National Transitional Council (NTC) assured China of its billions worth of business contracts in the country.
The NTC made the remarks after China formally recognized it Monday as the Libya's ruling government, according to a National Business Daily report.
China's Ministry of Commerce said Chinese companies had invested US$18 billion in Libya before war broke out. Starting from February, China's state-owned companies and private firms have suspended project construction in Libya and retreated from the war zone.
"As the Libya situation are getting better, we wish to go back and finish the suspended projects there," said a source with one of the centrally-owned companies that have operation there.
However, although the Chinese companies are eager to get back to Libya, no substantial progress has yet been achieved. So far, only two Chinese telecommunication equipment providers - ZTE Corporation and Huawei Technologies Co., Ltd. - managed to re-enter the country and participate in the its reconstruction efforts.
China's business press carried the story above on Wednesday.
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