(3 Minutes Read)
China’s Sea Legend Shipping Line began its maiden voyage to the Mediterranean basin through the port of the Misrata Free Zone (MFZ). Its ship, Xin Yong Chang 27, arrived from China loaded with various goods. The Sea Legend Shipping Line operates in East Asian ports, represented by the countries of Japan, Singapore, South Korea, Malaysia, China, and others.
MFZ said the line will start its work in the Mediterranean basin as a first and important step, while the second step will be the actual start of transit trade activity from Misrata Free Zone port. As a free zone operating outside of Libyan domestic trade legislation, Misurata Free Zone (MFZ) is seeking to leverage its competitive advantages – including complete exemption from national commercial registration obligations and 100% foreign ownership of MFZ-based companies – to establish itself as a gateway to Africa.
This is possible, it adds, because of the port’s great capabilities and its possession of modern equipment and mechanisms that contribute to the operation of the line and give it an added and supportive value in the Mediterranean basin, as well as the logistical hub of the port.
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The Misurata Free Zone (MFZ), aims to promote the development of manufacturing, industry, and entrepreneurship in the Misrata region, as part of efforts to diversify the broader national economy. As an independent entity operating under the Ministry of Economy, the MFZ seeks to optimise local potential and resources in the context of sustainable growth. Creating employment opportunities, providing training, and diversifying away from a reliance on oil and gas are key priorities for the zone.
