Positive news from Libya this May 2016
Healy Consultants Group PLC
01 June, 2016
Islamic State suffered huge blow to their campaign with Libya taking back its town, Ben Jawad. As confirmed, spokesman Ali al-Hassi notified that continuous fighting is still undergoing in the nearby town of Nawfiliyah, but according to Healy Consultants, the decisive victory in Ben Jawad proves the efforts of Libya to ensure safety have been paying off.
Libya's UN-backed Government needs to improve infrastructure everywhere around the country to ensure increase in global investments from its UN partner countries. Support on the military side is a reality as the United States and other world powers supply Libya's internationally recognized government with weapons to counter the Islamic State and other militant groups, but further effort in rebuilding the country need to take place.
Companies looking to invest in rebuilding of Libya's infrastructure can potentially enjoy 100% full foreign ownership under the new Foreign Investment Act, however, all investors need to take into consideration the high progressive tax rates, industry restrictions and security considerations. There are positive notions from Libyan banks that they will be ready to undertake up to 50% of important financial projects in the country as well.
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