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🛒 تسوق الآنEconomy and Commerce Grants Foreign Companies Permission to Expand Operations in Libya
Economy and Commerce Grants Foreign Companies Permission to Expand Operations in Libya
Government Paves Way for International Investment
The Ministry of Economy and Commerce in Libya's Government of National Unity has approved eight new decisions benefiting foreign and joint-venture companies operating in the country. These regulatory changes mark a significant shift toward liberalizing the commercial landscape and attracting international investment to Libya's recovering economy.
79 Foreign Companies Gain Extension Rights
Under the new framework, 79 foreign companies will now receive official permission to extend their existing operations within Libya. This decision affects businesses across multiple sectors, including energy, telecommunications, construction, and manufacturing. The ministry's statement emphasized that these extensions will be granted for an additional five-year period, providing stability and predictability for international partners.
Industry analysts note that this move addresses long-standing concerns among foreign investors about regulatory uncertainty. By formalizing extension procedures, the government signals its commitment to honoring existing commercial agreements and maintaining a stable business environment.
19 New Companies Cleared for Establishment
Additionally, the cabinet has authorized the establishment of 19 new foreign companies in Libya. These green-lighted ventures represent opportunities in emerging sectors such as renewable energy, digital services, and agricultural technology. Each company must submit detailed business plans demonstrating viable projects that align with Libya's economic development goals.
The approval process included rigorous due diligence, with priority given to investments that create local employment and transfer technical expertise. The ministry reported that 11 of the 19 new companies will establish regional offices in Benghazi, Tripoli, and Misrata, fostering economic diversification beyond the capital.
Minister Abu Shieha's Strategic Vision
Minister Sehil Abu Shieha, who leads the Ministry of Economy and Commerce, described the decisions as part of a comprehensive strategy to rebuild Libya's post-conflict economy. "Our priority is creating an environment where both local and international investors can thrive," Abu Shieha stated in a press briefing. "These measures are designed to accelerate reconstruction while ensuring Libyan businesses benefit from foreign expertise."
The minister also highlighted upcoming reforms aimed at streamlining licensing procedures and reducing bureaucratic delays. According to the ministry's timeline, additional decisions regarding tax incentives and customs exemptions will be announced by the end of the quarter.
Libya Context: From Conflict to Commercial Opportunity
Libya's economy has struggled with instability since the 2011 revolution, with inconsistent governance and security challenges deterring long-term investment. However, recent improvements in security and the establishment of the Government of National Unity have created optimism among international partners. The World Bank recently upgraded its economic growth forecast for Libya to 2.8 percent for 2026, citing improved political stability and renewed oil production.
Foreign Chamber of Commerce representatives in Tripoli have welcomed the new regulations. "This is the kind of clear, actionable policy that businesses need to plan for the future," said Maria Santos, president of the Euro-Libya Business Council. "We're seeing genuine momentum building in the investment climate."
Looking Ahead: Implications for Libyan Economy
The expanded foreign investment framework positions Libya to benefit from the global economic recovery post-pandemic. Technology transfer provisions in the new agreements include commitments for local training programs, with 30 percent of technical roles in new foreign companies required to be filled by Libyan nationals within three years.
Analysts estimate that the approved foreign investments could inject approximately $150 million into Libya's economy in the first year alone. This capital inflow is expected to support infrastructure projects, create over 2,000 jobs, and stimulate demand for local goods and services.
— Libya Press / Economy Desk
