Implements investment promotion law
01 Nov 2010
Libyan Arab Jamahiriya adopted a new regulation in November 2010, implementing Law No. 9 of 2010 on investment promotion. The new regulation reaffirms, inter alia, that investment is allowed in all sectors (production and services), except for exploration and extraction of oil and gas. Further, it provides that the minimum capital requirement is 5 million Libyan dinars for foreign investors and 2 million Libyan dinars for domestic investors. It also provides for incentives in the form of reduced customs duties and taxes. Finally, it provides that any disputes between foreign investors and the state should be settled in national courts, unless there is a bilateral investment treaty between Libya and the home country of the foreign investors, in which case the dispute should be settled under such a treaty.
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Type:
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Treatment and operation (Dispute settlement, Operational conditions )
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Promotion and facilitation (Investment incentives)
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Industry:
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Sources:
