Regulatory Alerts2022-06-06
Law No. 9 of 2010 Regarding Investment Encouragement
The General People's Congress of Libya enacted Law No. 9 of 2010 to consolidate previous investment statutes into a unified framework governing both national and foreign capital. The legislation establishes a dedicated administrative authority to streamline licensing, grants investors comprehensive tax and customs exemptions for up to five years, and guarantees fundamental rights including profit repatriation, foreign labor utilization, and protection against discriminatory expropriation. It further mandates strict project conditions such as technology transfer and a 30% local employment quota, while explicitly excluding oil and gas sectors and preserving existing exemptions for ongoing projects.
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