AI Magazine Issue 12 2018

Acquisition International - Issue 12 2018 57 Despite turbulence in politics and the economy, Mr Bakhnug and his law firm foresee great things lying ahead. akhnug Law is a small Libyan law firm specialising in business, construction, investment, contracting, litigation and arbitration. The company was established in 1988 by Mr Rajab Bakhnug, who now serves as Senior Partner and Managing Director, and he is supported by a team of lawyers comprising of Mr Ali Areebe; Mr Saddin Ezarroug, and Mrs Mysa Bakhnug. In a very short time, the firm became recognised both locally and internationally for its excellence in its chosen specialisms. It is considered to be one of the major players in Libya due to its credibility, efficiency and decades of experience, with Mr Bakhnug and his team quickly gaining a strong reputation for providing client satisfaction. He comments: “The outcome of my work always meets the needs of my clients, both the new ones and the old ones.” Many of the firm’s major clients are drawn to Bakhnug due to its expertise on Libyan law, with international and global clients hailing from the US, Europe, Africa, and the Far East, although Mr Bakhnug states that the firm is in regular contact with many international law firms providing advice and guidance. Libya has a chequered past and has experienced a lot of political turbulence historically, something Contact: Mr Rajab Bakhnug Company: Bakhnug Law Firm Address: Flat 5 Haddad Building, Omar Moktar Street Tripoli, Libya, Po.Box 646 Telephone: +218 21 4440886- 3333929 The Future is Bright B 1807AI36 which Mr Bakhnug says present many challenges for both himself and the firm. “Nowadays, the state of my profession is very hard and less productive,” he explains. “The key issue is the political situation in Libya which has led my current clients to evacuate their offices and thousands of Asian workers to suspend their work.” Mr Bakhnug is hoping for an uptick in the Libyan economy in order to get things back on track. “The future of my profession depends completely upon the level of administration and the political situation in Libya. If it is good, then once again my business will be on top.” Libya is large and has a relatively small population consisting of only seven million inhabitants. With vast expanses of uninhabited arid land, Mr Bakhnug sees huge future potential, and many new opportunities arising, in the oil, gas and construction industries for the country. “It needs a huge infrastructure, education and health facilities and big network of roads and communication,” he enthuses. “Therefore the construction field is the major business from now and for the next 20 years ahead. Accordingly, my office is concentrated on such businesses, and my clients range from Brazil in the west to China and Korea in the east. “When Libya becomes stable and secure again a great achievement can be obtained to me and to my clients. We are expecting a huge rebuilding of business, and subsequently, re-development will emerge in the country.” “The future of my profession depends completely upon the level of administration and the political situation in Libya. If it is good, then once again my business will be on top.”