Current conditions in conflict-wracked Libya make it an impossible country to invest in - like Syria, Iraq, Yemen and Saudi Arabia - the Egyptian telecom billionaire Naguib Sawiris said in Rome on Friday.
''It is impossible to invest in Libya, like Syria, Iraq, Yemen, and also, in my opinion, Saudi Arabia," Sawiris told the Mediterranean Dialogues summit.
A Mediterranean country seeking to attract investors "must not be corrupt", said Sawiris.
He owns Egyptian mobile telecoms outfit Orascom Telecom Media & Technology (OTMT) and has interests in mining and construction.
Another problem is nationalisation. "If a company is doing well, it gets nationalised," he said.
Security is another also a key issue, Sawiris said, citing the example of Libya.
"There are excellent professionals, who have been trained abroad, but who unfortunately cannot take on armed people (militiamen)," he said.
Countries' justice systems can pose further a obstacle to investment, Sawiri stated.
"The judiciary must be independent," he underlined.
Sawiri cited Tunisia, Egypt, Morocco, Sudan and Jordan as countries that he invests in.
