Libya imposes new rules on foreign investors: report

RABAT (Reuters) – Foreign investors will only be allowed to do business in oil exporter Libya if they form a joint venture with a local partner, local media quoted the Libyan Prime Minister as saying on Wednesday.

Foreign firms rushed into Libya after international sanctions were lifted six years ago, seeking a share of lucrative markets and contracts, but the government has said it wants to develop local business and create jobs for Libyans.

Two Libyan publications quoted Prime Minister Al-Baghdadi Ali al-Mahmoudi as announcing the new rules at a meeting with businesspeople in Tripoli. No officials were immediately available to confirm the report…read more

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