The Libyan Economy: Economic Diversification and International Repositioning

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Springer Science & Business Media, May 28, 2007 - Political Science - 474 pages
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I hereby have the pleasure to introduce an important and excellent work about the economic history and modern diversification of the Libyan economy, in which the information has been presented and analysed in a way that answers many qu- tions about the unique Libyan community and its economic system. It also ex- ines important economic and legal changes currently taking place in Libya as the country engages in a new stage of its economic development, after the lifting of the US sanctions in late 2004. I believe that this work will become necessary reading for foreign investors in Libya, regional and international organizations, and educational, academic and political institutions. This important book will also assist in bridging the existing knowledge gap about present day Libya, and enable readers to understand an international desti- tion that is very little known, either geographically, sociologically, economically, or politically. This is because, for those interested in Libya, most information about conditions in the country, until very recently, has been acquired through the international media, which continues, even up to the present, to be very negative about the country and its leader and people.
 

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The Libyan economic diversification

Contents

An Introduction to Libya
1
12 Independent Libya
3
13 Problems of Historical Perspective
4
14 Early Libyan History
6
141 Key Developments in Recent Libyan History
12
15 Libyas Political System
16
151 How the Libyan Political System Functions
19
16 Macroeconomic Framework
21
648 Details of the Current Status of the Privatization Process in Libyan SOEs Identified for Privatization
229
649 Results of the First Year of Privatization
230
6411 Lessons from Privatization
232
6412 Privatization in Libya Quo Vadis?
239
Libyas Investment Potential and Trade Blocs
246
72 Lack of Depth in Libyas Financial Sector
251
73 The Libyan Foreign Investment Board
252
74 FDI Projects Approved August 2006
253

17 Reappraising Libya
25
Libyas Foreign Policy and External Relations
29
22 Libyas Relations with Arab States
30
23 Libya and the Middle East Conflict
32
231 Libya and Palestine
36
24 Relations with the European Union
40
25 USUN Sanctions and Their Impact on Libyan Foreign Policy
42
251 Reassessing Lockerbie
51
26 Libya and the African Continent
53
262 Libya and CENSAD
55
263 Libya and COMESA
56
264 Libya and the African Union
58
265 Libya South Africa and NEPAD
59
27 The Postsanctions Period and Globalization
60
The Libyan Legal System and Key Recent Legislation
63
311 The Constitutional Base
64
312 The Legislative System
65
313 The Judicial System
66
32 Key Legislation Regarding Foreign Investment
68
322 Decision No 21 of 2002 Regarding Encouragement of Foreign Capital Investment
70
Decision No 13 2005
72
Income and Corporate Tax
74
325 Company Law and Incorporation
76
326 Law No 7 2004 and the Future of the Libyan Tourist Sector
78
327 Administrative Contracts Regulations 2000
80
Recent Executive Regulations
82
33 Present Needs and Future Direction of Libyan FDI Legislation
85
331 Protection of Intellectual Property Rights
86
Social Policy and Trends
87
413 Population Distribution
89
414 Trends in Population Growth 19952006
90
415 Age Structure of Population
91
416 Ratio of the Sexes
92
417 Trends in Illegal Immigration
94
42 The Evolution of the Libyan Education System
97
421 Libyan Educational Philosophy Education for All
100
422 Trends in Expenditure on Education
106
423 Libyan Education and the Future
107
424 The Importance of English
110
43 Housing in Libya
111
431 Trends in Development Expenditure on Housing
112
432 Libyan Housing in the Future
117
44 The Libyan Healthcare System
119
442 Structure of the Libyan Healthcare System
120
443 Primary Health Care
121
445 Trends in Health and Social Security Expenditure
122
446 The Future Direction of Libyan Healthcare
123
45 The Growing Role of Women in Libyan Society
124
451 Womens Education and Its Impact on Libyan Society
127
453 Women in Libyan Politics
128
46 Social Security Health and Safety and Employment Issues
131
462 Law No 15 of 1981 Covering Wages and Salaries in the State Sector
132
464 Social Security Concerns
134
465 Financial Resources and Expenditure of the Social Security Fund
136
466 Health and Safety Legislation
137
467 Libyan and Foreign EmployeesWork Permits
138
468 Nonnationals in the Libyan Work ForceLegal and Illegal Immigration
139
4610 Sectoral Employment
140
4611 Unemployment Issues
141
Public Sector Wage Increases vs Subsidies
142
47 Impact of Social Trends on Economic Reform
146
Infrastructure in Libya
150
53 Libyas Physical Infrastructure
156
533 Seaports and Harbours
159
535 The Rapidly Emerging Telecommunications Sector
161
54 The Great ManMade River Project
163
541 The GMRP and Water Utilization Authorities
165
542 The GMRP and Libyan Agricultural Diversification
167
55 Overcoming Libyas Infrastructure Deficit Through PublicPrivate Partnerships
168
551 Service Contracts
169
553 Operation and Management OM
170
557 BuildOperateTransfer BOT
171
The Rationale for Libyan Privatization
173
612 Mechanisms for Privatization
176
International Perspectives
183
622 Malaysian Privatization Policy and Results
185
63 Privatization in MENA Countries
193
Different Means Different Ends
194
632 Privatization in Morocco
204
633 The Algerian Case
209
A Pragmatic Approach
211
64 The Libyan Experience
217
642 Early Attempts at Privatization in Libya
218
643 Recent Privatization Policy in Libya
222
644 Framework and Evolution of Key Legislation
224
645 Implementation of the Privatization Programme
226
646 Employees Made Redundant by the Privatization Process
228
741 Status of FDI Project Implementation August 2006
254
742 Major FDI Source Countries 2006
255
75 FDI and Free Trade Zones in Libya
257
751 The Permitted Fields of Investment and Economic Activities in the Free Zones
258
753 Misuratah Free Zone
259
762 Expedite and Simplify Immigration Formalities for FDI
260
764 Publicize Libyas Competitiveness
261
765 LFIB Needs More Focus
262
77 Libya and Regional Trade and Global Organizations
264
772 Libya Trade Potential with the Maghreb Arab Union
267
773 Libya Trade Potential with CENSAD
268
774 Libya Trade Potential with COMESA
269
Economic Integration?
271
776 Libya and the Barcelona Process
272
777 Libya and the World Trade Organization
274
778 WTO and Its International Agreements
275
779 Objectives of WTO
276
Striking the Right Balance
278
Economic Reform and Diversification
281
821 The Evolution of the Libyan Banking Sector
282
Towards a Modern System
285
823 Financial Governance and LegislativeExecutive Tensions
289
824 Privatization of Domestic Banks
290
825 The Libyan Dinars International Exchange Rate
292
83 Liberalizing of the Libyan Insurance Market
293
84 Urgent Priority for a Libyan Stock Market
296
85 Libyas Major Contribution Towards Combating Global Money Laundering
297
86 The Libyan Tourist Sector 2006
299
861 Tourism and Economic Development
301
862 Restructuring Libyas Tourist Policies
302
864 Libya and Ecotourism
303
865 Recent Tourist Investment
305
866 Creating a Libyan Tourist Identity
307
87 Libyan Agriculture Sector
308
872 Reasons Underlying the Declining Agriculture Labour Force
310
873 Libya as a Food Importer
311
88 Potential in the Fishing Industry
313
882 Key Indicators Related to Fishing Industry
314
883 Structure and Characteristics of the Fishing Industry
315
884 Fisheries Research
317
885 COPEMED Project 19962004
318
887 Current and Future Status of the Fishing Industry
319
The Libyan Energy and Mining Sector
321
19701980
322
913 The Electricity Sector 1981Present
324
Corporatization Deregulation and Privatization
325
92 The Marketing and Consumption of Petroleum Products
327
922 Nationalization and the Establishment of Brega Oil Marketing Company BOMC
332
923 Subsequent Development of BOMC
334
The Deteriorating Financial Picture
338
The Privatization Option
340
926 BOMC Fuel Subsidies and Debt Collection
345
93 The Libyan Mining Sector
349
931 Establishment of Libyan Mining Company LMC
350
932 Objectives of the Libyan Mining Company
351
Libyan Environmental Law and Issues
353
102 Libyan Environmental Legislation
354
103 The Role of the Law No 7 of 1982
355
1031 Substantive Provisions
356
1033 Organizational Provisions
357
104 Resolution of the General Peoples Committee No 263 of 1999 Establishing the Environment General Authority
358
106 Environmental Impact Assessment in Libya
360
107 Libya and Integrated Coastal Zone Management
366
108 The Environment and Desertification in Libya
370
109 Water Desalinization and Its Environmental Impacts
371
1010 Libyas Declining Air Quality
372
1011 Solid Waste Management
373
1012 Environmental and Sustainability Issues Need for New Legislation
374
The Forces Shaping Libyas Future
376
112 The New Economic Realities
379
113 eGovernment and eInclusion
381
114 Transparency and Corruption
383
115 A Proliferation of Funds 20052006
391
1151 The National Development Fund
392
1152 Libya Africa Investment Fund
394
1153 Economic and Social Development Fund
395
1154 Libyan Investment Corporation
396
116 Nonsustainability in the Oil and Gas Industry
398
Assessing Libyas Postsanctions Initiatives
403
122 Appraising Libyas International Realignment
407
123 Consolidating Libyas Repositioning The Need for a 30Year Plan
410
Appendices
415
References
452
List of Tables
467
List of Figures
471
List of Appendices
473
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