FACTBOX-Foreign investments in Libya since sanctions ended

(Reuters) - U.S. companies are hoping Secretary of State Condoleezza Rice's visit to Libya on Friday will improve access to a country in desperate need of foreign investment and expertise as it emerges from years of sanctions.

But the oil-rich north African state remains a risky bet due to an opaque bureaucracy, erratic decision making and the lack of a transparent business culture.

Here are the main sectors that stand to gain from improved U.S. ties and some examples of inward investment deals since the end of the international embargo.

POTENTIAL INVESTMENT SECTORS

OIL/GAS - This sector, the pillar of Libya's economy, is already open to U.S. participation. But better relations, in particular the provision of more visas for U.S. executives, are expected to help deepen the U.S. role in the energy sector. The main U.S. companies involved so far are Amerada Hess, ExxonMobil, Chevron and Occidental Petroleum Corp.

INFRASTRUCTURE - Water, telecoms, transport, power generation and distribution, construction and engineering.

BANKING - Libya wants to modernise its primitive state-dominated banking sector and is seeking outside expertise.

HEALTH - Libya is upgrading its health sector and wants to attract international medical expertise to support this effort.

EXAMPLES OF INWARD INVESTMENT