Law No.9 of 2010 on Investment Promotion. Pays/Territoire Libye Type du document Législation Date 2010 Source FAO, FAOLEX Sujet Général Mot clé Loi-cadre Commerce/industrie/sociétés Commerce international Autorisation/permis Protection de l’environnement Aire géographique Afrique, Méditerranée, Afrique du Nord et Proche-Orient, Afrique du Nord Entry into force notes This Law enters into force on the date of its publication in the Official Gazette. Résumé This Law consisting of 31 articles aims at the promotion of national and foreign capital investment, with the purpose of setting up investment projects, in order to particularly ensure achievement of the following goals (i) technically upgrade and qualify Libyan cadres and elevate their efficiency to acquire advanced skills to opening employment opportunities; (ii) introduce know-how and technology; (iii) contribution towards setting up, developing or rehabilitating economic, service and production units, and assists such units to be introduced into the world markets; (iv) achievement of development in the relevant area; (v) increase and diversify income sources; (vi) control energy consumption; (vii) utilize locally available raw materials. Article 4 classifies the investment of national and foreign capital. As for article 5 will be set up an Authority responsible for the Law’s application, with the following main tasks (i) studies and proposals of plans organizing investment and privatization; (ii) collection of investment applications, verification of fulfilment of terms, conditions and rules, the study of the economic feasibility of the investment project; (iii) collection and publishing of information, preparation of economic studies relating to the project’s investment capabilities; (iv) adoption of methods capable of attracting national and foreign capital and publicity campaigns of investment opportunities; (v) provision of integrated “window service” to facilitate the investor’s license application, approvals and other services; (vi) periodic study of investment legislation and review thereof; (vii) take necessary procedures to execute the public policies for the elaboration of the ownership base, privatization of public companies and production units. Permission to set up, develop, restore, run, or operate an investment project shall be issued under a decision by the Secretary of the sector to which the administrative authority belongs (art.9). Investor’s rights are provided for in article 12. The administrative authority will establish a special register to be called “Investment Records”, in which all investment projects will be registered (art.14). Privileges and Exemptions can be offered for the investment projects if those projects contribute to the achievement of food security, are capable of achieving abundance in energy or water or contribute to environment protection, contribute to the development of the area. The Law deals also with (i) withdrawal of the license; (ii) written complaints; (iii) project’s guarantee establishing that it is not allowed to nationalize the project or privatize, take by force, confiscate, impose custody, freeze, or subjugate to procedures having the same effect, except under a judicial decision and for a fair compensation; (iv) settlement of disputes; (v) fees for services. Texte intégral Anglais Site web www.wipo.int