All Regions and All Sectors

The free zone, which forms part of the north-south trade axis between Europe and Africa, aims to attract businesses through fiscal incentives, including exemptions from personal and corporate income tax, along with Customs duties or taxes on imports and exports. The zone is home to some of the country’s leading financial institutions, such as Jumhouria Bank, which is Libya’s largest, and the Libyan…

The government has a number of mechanisms to attract foreign investment, including the Libyan Investment Authority (LIA). Established in 2006, the LIA is the country’s sovereign wealth fund and is responsible for managing investment in a diversified range of assets, with a valuation of $68.4bn in 2019. That same year, the LIA adopted a new strategy, signalling its intent to diversify its…

Libya is taking steps to diversify its economy and create new business opportunities by exploring the potential of its shipping and manufacturing industries. The country’s long Mediterranean coastline and ports, including Tripoli, Benghazi and Misrata, make it a strategic nexus for the shipping industry. The government is partnering with private investors to modernise and expand the ports, increasing…

This period also saw total exports of goods and services drop sharply from $49.9bn in 2010 to $18.4bn in 2011, and subsequent unrest coupled with the Covid-19 pandemic has prevented the country from reaching consistently high trade volumes, though total exports recovered to $30.8bn in 2021. Nonetheless, well-established trade links with Europe have consolidated Italy as the country’s main trading…