We note that the Libyan government is planning to introduce many
new laws over the coming few months. One of the most important of
which will be the new Companies Law (the Draft Law). We have seen
an early draft of this and our overall assessment is that it is
good in some aspects, but in others, it is a backwards step for the
country. We set out in this note an overview of the processes
typically involved when developing a new law, an overview as to how
other countries within the MENA region address foreign ownership
and our preliminary comments on the Draft Law as it affects Foreign
Direct Investment.
Proper consultation process
Whilst most of the issues under consideration by Congress are
subject to a wide variety of opinions from individuals and groups
across the country, it is fairly clear that almost all
representatives of the Libyan people acknowledge the vital need to
develop the Libyan private sector. One of the key tools for doing
this is the legislative
