Privatization and Investment Board
The Board was established under the provision of Article (5) of Law No. (5) of 1997 for promotion of investment of foreign capital. The law entrusted it with the responsibility for application thereof in all fields allowed for investment. The law specified in Article (6) the tasks of the Board Mission of Libya Investment Board:
- Working to encourage the investment of foreign capital and promote investment projects by various means and are especially
- Study and proposal of the plans for organising foreign investment and supervision thereof in the country.
- To receive applications for investment of foreign capitals and specifying their fulfilling the legal conditions, and economic feasibility study for the investment projects and presenting its recommendations in this respect to Secretary of General People’s Committee for Economy and Commerce.
- Consideration of the complaints / appeals presented thereto by the investors or disputes arising from applying the provisions of this law, without prejudice to the right of the investor to complaint / appeal and litigation.
- State of investment legislations and revision thereof from time to time, and presenting its proposals for development thereof to the competent body.