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About the Libyan Business Council

Libyan Businessmen Council (LBC) was established in 2003, as a step to regulate and organize the ranks of Libyan businessmen to serve the national economy and as a private institution with legal personality and independent financial liability. Its main headquarters is located in Tripoli and its branch office is in Benghazi and aims to support the private sector and contribute to building a sound national economy. The council has since endeavored to defend the rights of its members and the Libyan business community and support the private sector.

Upon the issuance of Law No (23) for the year 2010 regarding economic activity, its articles stipulate that a council called the Council of Businessmen may be established in place of the Businessmen Council to include in its membership businessmen and women for the purpose of supporting the interests of its affiliates and informing them of what enables them to establish strong relationships with their looks at the outside.

Based on The Council of Ministers the Resolution No (333) for the year 2012 the executive policy of
Law No. (23) for the year 2010 was approved and adopted regarding commercial activity, which the
articles stipulated the reorganization of the Council of Businessmen according to what was stated in
these regulations.

The goals of the Council

  1. The Council aims to bring together business owners to put in place a comprehensive vision
    and an effective mechanism to contribute to creating a business and investment
    the environment that encourages economic and qualifying the private sector so that it can play
    its expected role in developing the national economy.
  2. Presenting proposals regarding developing the economic legislations, and submitting
    appropriate recommendations to the competent authorities in the country with the aim of
    raising the competitiveness of the national economy.
  3. Working on developing the internal investments, attracting foreign investment, and
    searching for suitable investment opportunities for the private sector to serve the national
    economy, by offering national economic projects with foreign companies that wish to carry
    out these projects in accordance with the legislation in force.
  4. Following-up cooperation activities with the corresponding Arab and international councils,
    federations and organizations, and strengthening economic ties with them to provide the
    best services to Libyan businessmen.
  5. Holding economic seminars and conferences and issuing publications, leaflets, studies and
    researches that are concerned with developing the economic sectors in Libya.
  6. Working to raise the qualifications of Libyan business owners and others by setting up and
    managing specialized educational institutions on education and training, providing expertise
    and technical advice in economic and commercial matters, monitoring difficulties and
    proposing solutions in coordination with the relevant authorities.
  7. Participation in official delegations of an economic nature at home and abroad.

The formation of the Council

The number of the affiliated members is 800 members who are involved in commercial, industrial and service activities divided according to their activities into specific committees as of the
following: –

  1. The committee of the Industrial activity of all kinds.
  2. General Contracting Activity and Real Estate Investment Committee.
  3. The committee of commercial companies that carry out land, sea, and air transport activities.
  4. The Committee of Insurance, Banking Services, Leasing Finance, Debt Collection, and Similar Services.
  5. The Committee of Commercial Agencies, Brokers, and Deposits for Commercial Purposes.
  6. The committee of Retail and wholesale distribution activity, import, export, re-export, and catering services.
  7.  The Committee of Tourism Investment and the public entertainment companies.
  8. The Committee of Companies Practicing Educational Services, Training, and Rehabilitation.
  9. The Committee of Communications, Printing, Publishing, Media Services, and Advertising.
  10. The Committee of Commercial Companies Practicing Agricultural Activities of All Kinds, Livestock and Poultry Breeding and Fishing.
  11. The Committee of Oil, Gas and Environmental Protection Services.
  12. The Committee of Commercial Companies that own or manage, run hospitals, clinics, or medical laboratories.

The objective of these committees is to study the issues that concern them and to communicate with the competent authorities to overcome any difficulties faced by members of the Council in their work and joint councils have been established with some countries and work is underway to update them to serve the business owners affiliated with the Council.