The government is monitoring Maltese businesses in Libya and will soon be announcing measures to help them out.

In a statement issued yesterday, the government said it was “monitoring closely” businesses that had interests in Libya, where conflict is on the increase.

“In the coming days, the Ministry for the Economy, Investment and Small Business will be announcing specific measures through which the government can further assist effectively Maltese businesses in Libya,” it said, adding that the government’s main aim was to protect jobs and businesses.

The news comes just days after Times of Malta published concerns of a local businessman who invested in Libya over the years.

One of his employees who took care of his warehouses in Tripoli was kidnapped when delivering supplies, tortured and released when his captors realised he had no money.

A rough estimate provided by a GRTU official said the level of investment held by Maltese entrepreneurs in property and stocks was between €60 million and €70 million, excluding the Corinthia Hotel chain and many service providers in the construction and catering industries.

According to national data, trade between Malta and Libya has boomed in the past two years since the Gaddafi regime fell.

Yesterday, the ministry said it was in direct contact with constituted bodies including the Chamber of Commerce, GRTU, the Libyan-Maltese Chamber of Commerce, and the Malta Employers’ Association.