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Investment Climate in Libya

Libya has taken a number of steps to encourage investment in the country and it has done this through enacting numerous laws and regulations intended to improve the Libyan business climate and increase its attractiveness to investment. This effort has been modestly successful foreign companies are returning to do business and Libya has been able to draw substantial interest from foreign investors, particularly since the lifting of UN sanctions in 2003.

Regulatory Framework

Libyan Investment Authority

Libyan Investment Authority (LIA) was established in 2006 and defined by law No (13) of 2010, as a sovereign fund with a goal of developing and maximizing state revenue surpluses to achieve three purposes that is;

  • Create a diversified source of wealth for Libya’s future generations by investing internationally with a sustainable long-term view
  • Stimulate Libya’s economy through major, transformational private sector projects, engaging international expertise through joint ventures and knowledge transfer.
  • Provide stability against volatile oil revenues and government budget shortfalls

Libyan Petroleum Law no. 25 of 1955

Divided concession areas into small exploration sections not exceeding 75,000 square kilometres

Investment Climate in Libya has been summarized to include the following

Development partners of Libya

Double taxation treaties in Libya

Exports of Libya

International Trade Agreements with Libya

Investment Authority of Libya

Investment Guarantees in Libya

Investment Incentives in Libya

Investment Opportunities in Libya

Natural resources of Libya

Top Tourist Attractions of Libya

Trading partners of Libya

 

For more reading

http://www.telegraph.co.uk/news/wikileaks-files/libya-wikileaks/8294929/LIBYA-INVESTMENT-CLIMATE-STATEMENT.html

 

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