{"id":4317,"date":"2021-08-12T20:58:21","date_gmt":"2021-08-12T18:58:21","guid":{"rendered":"https:\/\/lbc.com.ly\/en\/?post_type=legislation&p=4317"},"modified":"2021-08-12T20:58:50","modified_gmt":"2021-08-12T18:58:50","slug":"law-no-5-of-1426-ad-1997-ad-regarding-the-encouragement-of-foreign-capital-investment-as-amended-by-law-no-7-of-1371-fdp-2003-ad","status":"publish","type":"legislation","link":"https:\/\/lbc.com.ly\/en\/legislation\/law-no-5-of-1426-ad-1997-ad-regarding-the-encouragement-of-foreign-capital-investment-as-amended-by-law-no-7-of-1371-fdp-2003-ad\/","title":{"rendered":"Law No. (5) of 1426 AD (1997 AD) regarding the encouragement of foreign capital investment, as amended by Law No. (7) of 1371 FDP 2003 AD"},"content":{"rendered":"\n

Law No. (5) of 1426 AD (1997 AD) regarding the encouragement of foreign capital investment, as amended by Law No. (7) of 1371 FDP 2003 AD<\/p>\n\n\n\n

General People’s Conference<\/p>\n\n\n\n

In the implementation of the decisions of the Basic People\u2019s Congresses in their second regular session of the year 1425 AD, which were formulated by the General Forum of Basic People\u2019s Congresses, People\u2019s Committees, Trade Unions, Unions, and Professional Associations (General People\u2019s Congress) in its regular session during the period from 25 to 30 Shawwal corresponding to 4 to 9 Rabi\u2019 1426 AD.<\/p>\n\n\n\n

And after reviewing the declaration of the establishment of the authority of the people.<\/p>\n\n\n\n

And the Great Green Charter for Human Rights in the era of the masses.<\/p>\n\n\n\n

And Law No. (20) of 1991 on the promotion of freedom;<\/p>\n\n\n\n

And the Commercial Law and its amendments.<\/p>\n\n\n\n

And Law No. (37) of 1968 regarding foreign capital investment.<\/p>\n\n\n\n

Income Tax Law No. (64) of 1973, and its amendments;<\/p>\n\n\n\n

Customs Law No. (67) of 1973, and its amendments.<\/p>\n\n\n\n

And Law No. 1 of 1993 concerning banks, cash and credit, and its amendments;<\/p>\n\n\n\n

And Law No. (1) of 1369 FDP regarding popular conferences and popular committees.<\/p>\n\n\n\n

Draft the following law<\/p>\n\n\n\n

Article one<\/p>\n\n\n\n

This law aims to encourage the investment of foreign capital to establish investment projects within the framework of the general policy of the state and the objectives of economic and social development, in particular:<\/p>\n\n\n\n

Transfer of modern technology.<\/p>\n\n\n\n

Building the technical Libyan elements.<\/p>\n\n\n\n