Libya Tells Foreign Companies to Form Joint Ventures with Libyan Companies

TRIPOLI, Libya – Dec. 12 (SEND2PRESS NEWSWIRE) — According to Phoenicia Group, a decision last month by the General People’s Committee, the Libyan equivalent of Parliament, mandating foreign companies in Libya active in the oil services, construction, industry, electricity, communications, transportation, and agribusiness and marine and animal resources sectors, to form Joint Ventures through Joint-Stock companies with Libyan partners, has some in-country foreign companies wondering how the new law affects them, and non-established companies confused on incorporation options in Libya.