Towards building a proposal to amend Law No. (9) of 2010 regarding encouraging investment in Libya

Abstract

The main goals of this paper are: to evaluate the Law No 9 for the year 2010 on the promotion of investment to the Libyan economy، in terms of its positive and negative expected effects on foreign investment flows to Libya. Also، to contribute to modify this law to insure its role in attracting domestic and foreign investment to the Libyan economy in the coming period. To achieve these ends the descriptive and inductive approaches have been used. The evaluation of this law reveals that some amendments on some articles of this law are needed to insure the purpose of issuing such law. In this context، some amendments have been introduced in the text of this law. However، when drafting laws concerning investment، or modifying this law it could be useful take into account the identity or the future vision of the Libyan economy. In addition، it is important to involve the institutions that affect and/or affected by this law، or the institutions related to it. To achieve the objectives of the Libyan economic and social development it is important to involve these institutions' in modifying this law.