Webb Fontaine Group announces the acquisition of a prestigious 5 year investment project in collaboration with the Libyan Customs Authority, marking a significant milestone in the realm of foreign trade and customs in Libya.
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The project's primary objective is the development, implementation, and operation of the Advance Cargo Information (ACI) System in the State of Libya.
Initially focusing on non hydrocarbon exports via sea transport to Libyan ports, the system will progressively extend to encompass exports to Libya by air and land.
Webb Fontaine Group, renowned for its cutting edge technological solutions, will spearhead the creation of this state of the art system. An operational centre, managed by a highly qualified team, will be established in Tripoli, Libya, to manage and oversee the system's operations.
In addition to the ACI system, Webb Fontaine will introduce a comprehensive foreign Trade Information Portal (TIP) to streamline exports to Libya.
The TIP will provide up to date information, relevant executive regulations, trade import and export forms, and processes flows for all modes of transport.
Tutorials, tax simulators, and smart cargo classification will ensure accuracy and compliance with relevant laws. The ACI system will also incorporate a robust risk management system powered by artificial intelligence (AI) and machine learning (ML) to mitigate fraud and illicit trade.
The implementation of the ACI System in Libya heralds the country's first digital transformation project for trade and customs. The project's overarching goals are to simplify trade processes, enhance control and governance, and boost revenue for the Libyan public treasury.
The ACI system promises a comprehensive transformation in Libya's foreign trade and customs operations. It ensures robust validation, transparency, and efficiency in import procedures, while combating illegal and fraudulent activities and reducing congestion at Libyan ports.
This project signifies a leap forward in trade efficiency and trade security, underlining the commitment of Webb Fontaine Group and the Libyan Customs Authority to elevate Libya's trade ecosystem standards. ■