Implements investment promotion law
27 Nov 2010
In November 2010 the Libyan Arab Jamahiriya implemented Law No. 9 of 2010 on investment promotion. The new regulation inter alia, reaffirms that investment is allowed in all sectors (production and services) except for exploration and extraction of oil and gas. Furthermore, it provides that the minimum capital requirement in 5 million Libyan dinars for foreign investors and 2 million Libyan dinars for domestic investors. It provides for incentives in the form of reduced customs duties and taxes. Finally, it provides that any disputes between foreign investor 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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Entry and establishment (Ownership and control)
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Treatment and operation (Dispute settlement)
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Treatment and operation (Operational conditions)
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Promotion and facilitation (Investment incentives)
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Industry:
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Sources:
