Privatization and Investment Board was founded in 2009 rule (No.89) to promote foreign and national capital to set up investment projects in various production and service sectors within the general policy framework of the country and the social and economic development goals. In addition, the board also supervises and implements the process necessary for the success of the investment projects in accordance with Law (No.9) and its ex¨ecutive regulation for promoting investment in Libya.
In brief, Law (No.9) 2010, aims to:
– Building and developing of the national workforce and increase their campe tence level and know-how, and creating job opportunities for them.
– The transfer and localization of technology in the Libya economy.
– The development and the rehabilitation of production and service economicunits to increase its competitiveness within international markets.
– Achieve local development.
– Diversification of sources of national income. 6- Utilize the use of energy.
– Utilize the use of local raw material.
Our objectives are :
– Prepare the investment environment, so that the investor, either local or foreign, can work in a suitable and comfortable environment.
– Prompt investment opportunities.
Attract foreign capital to invest in Libya either :
– Initiate new projects.
– participate in existing ones.
– oint Ventures between local and foreign investors.
– Transfer of ownership of public companies to the private sector.
– Board Specialties Providing the necessary agreements and issuing licenses to raise investment projects of all fields except:-
– Oil and Gas.
– Specify evaluation ways and privatization methods.
– Receive national and foreigner capital investment orders and transfer the ownership of projects completely or partially.
– Coordination with other sectors for preparing the units to be privatized.