{"id":12,"date":"2022-06-08T18:03:41","date_gmt":"2022-06-08T18:03:41","guid":{"rendered":"https:\/\/euroly.org\/?page_id=12"},"modified":"2024-04-06T00:51:01","modified_gmt":"2024-04-06T00:51:01","slug":"invest-in-libya","status":"publish","type":"page","link":"https:\/\/euroly.org\/invest-in-libya\/","title":{"rendered":"INVEST IN LIBYA"},"content":{"rendered":"
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\"Invest<\/p>\n

Invest in Libya<\/h1>\n
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Libya offers a business-friendly environment for expansion, trade, and investment, standing as North Africa’s prime investment hub with strong property rights and full tax and customs exemptions for foreign investors.<\/span><\/p>\n<\/div>\n<\/div>\n

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Libya’s Free Market Transition <\/h2>\n
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Emerging from nearly five decades of economic isolation, Libya is now on a trajectory towards integrating into the global capitalist arena<\/strong>. This transition has been catalysed by a transformative ceasefire accord in 2020<\/strong>, marking a period of economic recovery for the nation. Further bolstering this recovery, the formation of the Government of National Unity in 2021 has enhanced security stability, while fostering stronger institutional synergies between the Eastern and Western regions<\/strong>, aligning with the nation’s overarching market integration objectives.<\/p>\n

Key metrics underscore this positive trajectory: there has been an<\/strong> 80% reduction in conflict-related incidents and a 95% reduction in casualties from the medians of 2014-2021<\/strong>, indicating a period of stabilization and growth. Moreover, a resurgence in hydrocarbon prices has facilitated a transition from a 64.1% GDP deficit in 2020 to a 10.6% surplus in 2021. Looking ahead,<\/strong> the IMF projects Libya\u2019s foreign reserves to reach 85 billion USD before 2024<\/a><\/strong>. It also forecasts a substantial 17.9% growth in Libya\u2019s GDP for 2023, marking a notable stride in economic progress within the MENA region, especially compared to its GDP growth of 177% in 2021<\/a><\/strong>.<\/p>\n

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This evolving economic landscape unveils an investment opportunity both maximizing capital allocation and contributing to a sustainable and equitable socio-economic paradigm<\/strong>, aligning with broader objectives of societal progress and sustainable development. This presents a compelling proposition for investors seeking a multifaceted value engagement in North Africa’s burgeoning market.<\/p>\n

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Moreover, historically, foreign investments in the nation were mainly constrained towards the oil sector through sovereign contracts, showcasing Libya’s traditional engagement with Foreign Direct Investment (FDI).<\/span> The transformative shift however began in the 1990s, and a pivotal moment arrived with the Law No. 9 of the year 2010 regarding Promotion of Foreign & Domestic Investment<\/strong>. Although instituted before the 2011 revolution, this law stands firm today, offering a suite of benefits and incentives to prospective foreign investors<\/strong>:<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n