Libya

2. Libya Location: Libya is located in the middle of North Africa, bordering the Mediterranean Sea. It has sixneighbors: Egypt, Sudan, Chad, Niger, Algeria, and Tunisia. The country's location has enabled Libya to witness many civilizations and became an important caravan trade link between Africa and Europe. Area: 1,775,500 sq km with a surface comprises coastal plains, plateaus and mountains. The Sahara desert extends deep into the south with its scattered oases and small towns . Climate: A typical Mediterranean climate along the coast in the northern parts and desert climate in the south. Average temperature is between 15C during winter and 35C during summer time.

3. About Libya Libya welcomes all investors who wish to invest their money and expertise in highly profitable and mutually beneficial projects. Libya provides many exemptions and privileges to all investors, also raw materials, cheap energy, skilled labor, and do not forget Libya's geographical location which is the open door to the African continent and its nearness to Europe. That is just one of so many reasons why entrepreneurs are attracted to invest in Libya. The Libyan Privatization and Investment Board was established to promote foreign and local investment and provide all the licenses, permits, guarantee all incentives and facilitations to investors in simple procedures through the one-stop shop services office.

4. About Libya What makes Libya an opportunity & challenge? The availability of cultural and natural resources. The strategic geographical location. The availability of a high percentage of a young population Low priced energy.

5. Our objectives About Libya • Prepare the investment environment, so that the investor, either local or foreign, can work in a suitable and comfortable environment after 17 February 2011. • Prompt investment opportunities. • Attract foreign capital to invest in Libya either : • Initiate new projects. • participate in existing ones. • Joint Ventures between local and foreign investors. • Transfer of ownership of public companies to the private sector.

6. Board Specialties About Libya Our objectives • Receive national and foreigner capital investment orders and transfer the ownership of projects completely or partially. • Specify evaluation ways and privatization methods. • Providing the necessary agreements and issuing licenses to raise investment projects of all fields except Oil and Gas. • Coordination with other sectors for preparing the units to be privatized. 6

7. Incentives and Exemptions • The Package of incentives and exemptions enjoyed by the foreign and local investor for a period of five years:- • Exemption from all customs duties and taxes. • Exemption for five years from all customs duties and import taxes . • Exemption from income taxes from the date of commencement of production and this applies to profits from the investment. • Exemption of goods from export tax.

8. Rights and Guarantees under the law • Re-exports of capital invested abroad. • Open bank accounts and transfer their net profits and interest. • Leasehold (for a set period of time) of land. • The right to carry losses forward to the subsequent year. • Importation of all the needs and requirements of the project from abroad. • Export project’s products . • Procurement of manpower and foreign expertise for the project and allowing workers to transfer their salaries.

9. Guarantees • Nationalization of the project may not be carried out, in any way, except by judgment and must be in return for prompt and fair compensation. • The relevant laws in place to resolve any dispute that may arise with the investor

10. Fields of investment 1 -Transportation Sector • Construction of airports. • Management of airports. • Handling, Supply and Land services in airports. • Construction of highways • Construction of subways and railroads. • Construction, improvement, and operation of • seaports with a local company. • 2- Health Sector: • Construction of hospitals. • Laboratories and analysis and diagnosis centers. • Manufacture of Drugs. • Manufacture of medical· equipment.

11. 3- Education Sector: • Establishment of:- • Universities & high institutes. • Vocational training centers. • Schools and international institutes. • Those institutions must have their curricula and examination procedures approved by the Ministry of Education in Libya.

12. 4- Industry Sector: • Cement • Sanitary materials • Electrical • Household appliances • Plastics • Leather • Food • Mechanical • Chemical • Manufacture and maintenance of marine fishing • equipment • Manufacture of educational items • Iron and steel • Recycling • Solar and renewable energy

13. 5- Agricultural Sector: • Cultivation of farm crops. • Cultivation of fodders. • Operation of poultry farms. • 6- Maritime Wealth Sector: • Aquaculture. • Fish canning. • 7 - Tourism Sector: • Hotels, tourist resorts and villages. • Construction of yacht marinas. • Construction of leisure utilities. • Construction of tourist houses and flats. • 8- Public Utilities Sector: • Construction of residential flats and houses. • Construction and development of household gas network. • Water desalination plants. • Waste water purification and sewage plant. • Recycling factories.

14. Achievements from 2000 to the first quarter of 2010 • Privatized Units • Investment Projects

15. Food Industries 20 Metal, engineering and electrical industries 22 Animal and marine production 18 Chemical industries 13 Services 14 Leather industries 7 Spinning and weaving 5 Furniture industry 6 Building materials industry 5 Paper industry 1

19. 19 Until 31-03-2010

22. Asia 22

23. Africa Asia 23

24. North & South America Africa Asia 24

25. Europe North & South America Africa Asia 25

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