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Decision No. 576 of 2022 Establishing the Libyan Economic Forum

27-06-2022·مجلس الوزراء·الاقتصاد
Analysis
Summary

The Council of Ministers established the Libyan Economic Forum under the National Council for Economic and Social Development. The Forum serves as a public-private dialogue platform focused on economic policy, chaired by the Director General of the National Council with representation from key ministries, the Central Bank, and business chambers. It will organize annual international conferences, commission studies, and facilitate partnerships between government and private sector actors.

Business Implication

This creates a formal institutional channel for private sector input into economic policy formulation—previously absent in Libya's fragmented governance landscape. Foreign investors and multinational operators may gain structured access to policy discussions through the Union of Chambers of Commerce representation and international expert slots on the Board. However, the Forum's effectiveness depends entirely on GNU legitimacy and whether eastern-based authorities recognize it, given Libya's ongoing institutional dualism. Monitor for actual convening activity before assessing real utility.

Key Provisions
Forum governed by Board chaired by National Council Director General, including Central Bank, key economic ministries, Libyan Investment Authority, and Chambers of Commerce representatives
Mandated to organize annual international conference and prepare economic studies for competent authorities
Authorized to engage regional/international organizations and consulting firms to accomplish its tasks
Includes up to three local and international economic/financial experts on Board of Directors
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