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Prince Mahdi al-Senussi of the Libyan Royal Family on efforts to redevelop Libya’s infrastructure and energy sector in an effort to boost the countr...
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Do you believe there is no growth anywhere in the world today -- so many problems about a bunch of different countries but check out Libya.
As long as you can stomach some geopolitical.
Risk and worrisome headlines.
The organization for economic and cooperative development is talking about 20%.
Growth this year.
10% GDP for 2013.
Prince Mohammadi ascendancy is part of Libya's royal family.
They -- exiled 42 years ago and he is back trying to sell Libya to the business community globally he just got back from a trip over there he joins me now.
In -- Fox Business exclusive welcome again -- it's nice to have you on the show.
Thank you for having me I'm glad to see you again.
Good to have you but this is -- tough pitch especially after the violence have been Ghazi where the US ambassador was killed him.
I want to know your pitch how do you convince US businesses that this is a place to set up shop.
There's been gotta -- it really look at moving forward right now economically.
They putting a lot of energy on infrastructure projects.
-- -- have business development.
And by and then being they have allocated a budget.
580 billion dollars.
They want American combat -- they're looking for American -- -- in -- Libya.
Libya is not what it put even the media if not whatsoever it's a lot paper.
And I I -- a lot of American companies they have they have been -- -- over a year.
They are looking to petition paid to invest and enjoy and Libyan.
-- I don't happen.
What American businesses are already there that much I know you can talk about your negotiations with some businesses that aren't ready to make any announcement but who's already there what are they doing.
I have -- allied I've been nice thing there the oil companies.
-- -- there.
Some of the medical companies.
High tech firms and I personally.
Right now I'm working with two Americans found.
-- I did I didn't get the of the the I didn't get -- that permission.
But they have join me and they are about to get a contract bush -- construction.
And -- people put in mines everywhere.
Yet they have put mind.
Covering.
More than.
1000 miles.
-- cross.
The Libya and -- companies will come in and doing -- don't explosive bombs that day that they are around the oil field.
And also in the border between Egypt and Libya.
And so -- -- that's a very specific niche I would think in in military companies but -- let's do the low hanging fruit first and that would be the the oil industry I know right now much of the oil industry is gathering in Istanbul to talk about contracts for 2013 but.
What should you offer them look -- -- it that your country is already back up to prewar numbers about what one point six million barrels per day.
But a lot of the infrastructure in the -- remember yeah you said I would get back up to that.
Yes -- -- and here it is but so is it is it updating infrastructure what would it be.
Libya right now -- really looking to develop the oil services rigs.
They looking to award contracts oil companies to.
Two two the bottom there -- oil field also upgrading our refineries.
And -- more market.
For our high quality oil.
But also more so -- in -- interest -- right now do do but of their.
To bring their telecommunication.
From two G to three G.
How it's telephone.
System focus on how we want to -- what company for infrastructure to do that not yet forgy -- You just said.
We're looking for people to come do that you know if I am a US business I am thinking a couple of things you say.
They are looking to abort companies who say there isn't really a solid full on government yet there's no constitution.
What is fun you know leadership comes in up trends he adds and changes everything and then companies that came in struck a contract with one leadership group.
It's all changed.
I'm happy to announce that we have elected.
Very recently not even a month.
And in new prime minister -- we have a government employee right I know -- -- narrow for the changes worry me.
They are they have more than -- -- -- these these changes are ready in place.
They they are ready announced -- reviewing contract they -- and do -- Libya it's already forming.
A aid is -- in relation to what many different European.
And and -- -- -- institutions banks are coming in.
-- -- to to to retain our banks and to be in a joint -- rolled -- to -- dollar fund got Olivia well.
The new prime minister's German educated if that if that makes a difference for some businesses who might be watching prince thank you very much for joining us.
Thank you haven't -- -- also Nancy who is moving permanently back to -- his home country.
