Libya: New law for investment in petroleum

The Libyan authorities are currently studying a new law draft for investment in the petroleum sector that would grant incentives to foreign companies to encourage investment in petroleum projects.

Almost two years ago, the Libyan government ratified a law for investment in the country. It has also recently ratified a law that allows the establishment of free trade zones along the Libyan coast.

The proposed law for investment for petroleum is part of a plan which aims at encouraging international companies to invest in Libya as they do in neighboring countries.