These are regulated by several administrative decisions issued by the Government and regulations set out by the Ministry of Economy, such as Council of Ministers Decision No. These regulations may vary, depending on the goods and on the general state of affairs in the country. The Libyan jurisdiction recognises the concept of a trust and the role of the trustee, and regulates them in the Libyan Civil Code. Within the context of creating security, practice has evolved to use a security agency in reliance on basic principles of agency law espoused in the Libyan Civil Code.
What laws, regulation and guidance are in place to manage the procurement and management of infrastructure projects including PPPs and is this regime overseen by a special unit, division or department such as a PPP unit within Government?
The Libyan Civil Code contains a number of provisions which regulate the management of public facilities by private concessionaires, which is quite similar to Public Private Partnerships PPP ; however, no laws or regulations currently exist that expressly regulate PPPs for infrastructure projects.
A draft PPP law has been debated for a number of years but has yet to pass into law. Is there a merger control regime? If so, what are the thresholds for notification?
The Commercial Code regulates company mergers Articles — The Commercial Code does not provide for thresholds for notification. The merger procedures include a requirement to value the assets and shares by a committee of experts appointed by a competent court of first instance in article , the notification of all debtors of the merging companies in article , and the registration of all relevant documents at the Commercial Register in article Chapter 11 of the Libyan Commercial Code specifically articles — deals with the issues of competition, and prohibits market abuse.
The Commercial Code provides for the establishment of a Competition Committee to be responsible for reviewing complaints and investigating them and, in cases where the law has been violated, referring the cases to public prosecution. What protections does the local law provide for intellectual property rights?
Intellectual property rights are protected under the provisions of Law No. What taxes are businesses subject to in this jurisdiction? Please include, for example, corporate tax, VAT, stamp duty, tax on share issues, etc. What transfer pricing rules apply, and are any withholding taxes in force in your jurisdiction? These taxes are governed by different laws and regulations which are usually specific Income Tax Law, Stamp Duty Law, etc.
The program was subsequently adjusted to reflect security and political developments. The Bank program focuses on actions that contribute to improving lives and on activities that that improve the data and knowledge base for longer-term engagement with Libya through Advisory Services and Analytics ASA.
The RPBA is an assessment, planning, and coordination exercise to produce one coherent and comprehensive strategic framework for immediate and medium-term recovery and peacebuilding efforts. The IFC has discussed, in a preliminary manner, creating access to finance for small and medium enterprises, especially those concerned with leasing.
It was working to raise awareness of—and provide capacity building for—the financial sector, as well as for private sector participation in infrastructure development, possibly through Public Private Partnerships. MIGA sent a team to Tripoli in April to explain its role to 45 small- and medium-size enterprises at a public forum. GDP growth is projected to be 0. This report identifies key factors weighing on Syrian refugees contemplating a return home and analyzes how changing conditions in Syria might affect their decisions.
The report outlines a new framework with a three-pronged approach. This site uses cookies to optimize functionality and give you the best possible experience.
If you continue to navigate this website beyond this page, cookies will be placed on your browser. Gary van Staden, senior political analyst at South Africa's NKB Independent Economists, said institutional interest in Libya was low as other African markets offered lower-risk returns.
The biggest problem is the lack of liquidity. Some stocks move little, as a bored dealer in the trading hall points out. Daniel Broby, chief investment officer at UK frontier asset manager Silk Invest, said the conversion to Islamic law might help outdated state banks to move towards a more viable business model, but also e sleepy bourse needed more action.
For Libyan investors, the bourse has taken them on a painful journey since it reopened in March Libya's chaos knocked the market down by 25 percent in , according to Karoud. It has lost some 40 percent since its launch. Is this acceptable? He said he had bought shares worth 15, dinars a year ago, some of which have lost 40 percent.
For you. World globe An icon of the world globe, indicating different international options. Get the Insider App. The LIA says it is now preparing a request for changes to the sanctions regime that will be sent through the Libyan government to the UN Security Council.
Dr Mahmoud said this did not mean it was looking for all the sanctions to be removed, however. We are requesting slight amendments in a manner which will avoid the negative impact on our funds. The fund is meant to receive excess oil income from the state, but the turmoil of the past decade — during which the country was thrown into a brutal civil war — has meant it has received nothing from the government since This is a BETA experience.
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