The Libyan Business Council reported yesterday that a meeting was held yesterday at the headquarters of the National Economic and Social Development Board (NESDB)—conducted both in-person and via Zoom—with the participation of the Board of Directors of the Industrial Zones Authority and the executive leadership of the Libyan Business Council. The meeting was also attended by the Director-General of the NESDB.
The meeting focused on reviewing proposed amendments—submitted by the Libyan Business Council and the Permanent Technical Committee for Business Environment Reform (within the NESDB)—to the draft regulatory bylaws for industrial zones, which were originally presented by the General Authority for Industrial Zones Management.
This initiative is part of broader efforts to improve the legislative and regulatory framework for industrial investment in Libya and to strengthen public-private partnerships.
The proposals aim to refine the bylaws to better align with the requirements of the private sector, thereby enhancing the appeal of industrial zones to both local and foreign investors. This includes expanding opportunities for the private sector to establish, develop, and manage industrial zones, while providing greater safeguards and incentives for developers and investors.
Discussions also addressed the importance of fostering public-private partnerships, the state’s role in planning, regulation, licensing, and oversight, and the involvement of municipalities in benefiting from the returns of industrial development—a move intended to support regional development and alleviate pressure on the national budget.
It was agreed to form a joint working group, comprising members from the Permanent Technical Committee for Business Environment Reform and the General Authority for Industrial Zones Management, to review the proposals before submitting them to the relevant authorities for formal approval.