A Major Step Towards Economic Reforms in Libya
We are pleased with the issuance of Prime Minister’s Decision No. 522 of 2024, which establishes steering and technical committees dedicated to advancing business environment reforms in Libya. This landmark decision marks a crucial step toward enhancing the business and investment climate, thereby fostering economic growth.
These committees comprise representatives from various key Libyan institutions and are tasked with:
- Developing general policies and strategies for reforming the business environment.
- Studying and diagnosing administrative and legal obstacles facing economic activities in Libya.
- Developing plans and programs to develop the legislative and administrative environment and improve the performance of relevant departments and entities.
- Assessing financing needs and identifying the resources necessary to support economic development.
- Submitting periodic reports and recommendations to the competent authorities to take appropriate action.
This decision is a result of collaborative efforts between Expertise France and the National Economic and Social Development Board, under the E-nable project funded by the European Union. This partnership has been instrumental in supporting Libya’s economic reforms and improving its business landscape, initially exemplified by the formation of the Business Environment Improvement Team by the National Economic and Social Development Board, which was equipped with technical support to lay the groundwork for this decision.