Libyan businesspeople to save capital in Armenia

Armenia and Libya will strengthen economic ties and create joint enterprises, said the Armenian parliament press service after a meeting between Libyan Ambassador to Armenia Toni Baduai and Armenian National Assembly Chairman Arthur Bagdasaryan. At the meeting details of the upcoming Libyan parliamentary visit to Armenia were also discussed.

One representative of Libyan business said that the country's business community is looking over the possibility of making large investments in the economy of Armenia. He also said the Libyan economy is about to completely collapse due to the poor economic policies of the government. In this connection, Libyan businesspeople intend to evacuate their capital from the country and look at the possibility of investing in the Armenian economy. The Armenian diaspora in Libya is also lobbying hard for closer economic relations with Armenia.

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