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Lyamec & Associates Presents at UBI France on Libya

Tue, 29 Nov 2005, 13:04:00 EDT

Edited by Carly Zander

PARIS, France (SEND2PRESS NEWSWIRE) -- Avocat Farouk Yala, correspondent for Lyamec & Associates in Paris, presented on the firm's behalf on Libya's investment Law No. 5/1997. Avocat Farouk Yala addressed foreign firms on properly succeeding in seeking opportunities in Libya while addressing those criticizing Libya's reform and investment laws. During his presentation to over 120 attendants, he clearly outlined the failure of the foreign investment firms whom sought and failed in engaging the opportunities offered in Libya, "because of their lack of understanding of local legislation, rules and regulations revolving the criteria for foreign investment projects."

Clarity was formed among the attendants regarding international agreements signed onto by Libya regarding money laundering and anti-terrorism investment programs are issues that must be addressed and adhered to by foreign investors.

Additionally, corruption was also an important issue focused, addressed and presented by Lyamec & Associates. In the lecture presented to the 120 attendants, Yala stated on behalf of Lyamec "The conundrum of such implications regarding corruption issues in Libya are in fact scenarios initiated, instigated, and supported by foreign investment firms whom simultaneously are raising this concern in the international arena."

Details of Law No. 5/1997 and the proper interpretations of the law are clearly not being understood by the foreign investors due to the lack of proper commercial advisory services sought by the failed applicants. "Foreign firms who fail to reap the benefits of what Libya has to offer are clearly due to their lack of seeking proper legal and commercial advisory representation, and more importantly, there are no short cuts in the Libyan market." With the success of the several clients whom have in cases became partners through our multi-national approach focuses on issues regarding projects that truly meet and exceed the criteria's of basic Libyan national social and economic interests such as technology.

At the conclusion of the presentation, officials of UBI France singled out Lyamec & Associates correspondent Yala on his concise and most practical application ever covered by any invited panel covering Libya.

For more information on Lyamec & Associates, visit: www.lyamec.com

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