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Libya's Minister of Economy approves new foreign company operations to boost investment climate
via Libya Herald1 min read
Libya's Minister of Economy and Trade, Suhail Abu Shiha, recently approved seven decisions concerning foreign companies, including opening new branches, extending operating licenses, and authorizing commercial agencies. This follows three similar decisions in April that approved 42 foreign companies. The newly approved companies are from Hungary, Spain, Britain, Qatar, Saudi Arabia, Tunisia, and the Netherlands, alongside a Libyan company. The Ministry stated these actions are part of its strategy to enhance the investment climate, encourage foreign company expansion in Libya, improve the business environment, strengthen national economic confidence, and simplify investor procedures to attract investments and revitalize economic sectors. This initiative aligns with efforts to address the US State Department's Investment Climate Report, with a Tripoli government team meeting on April 13 to discuss enhancing foreign investment attraction and expanding economic partnerships.
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