As part of the ongoing efforts to strengthen institutional cooperation and unify national initiatives to create an effective and stable investment environment, the Libyan Investment Authority (LIA) participated on Tuesday, July 8, 2025, in a visual presentation organised by the National Council for Economic and Social Development. The session focused on discussing the executive regulations draft for Law No. (13) of 2010, which governs the LIA.
The meeting was attended by Dr. Ali Mahmoud Hassan, Chairman and CEO of the LIA, as well as Dr. Mahmoud Ahmed Al-Futaisi, Director General of the National Council for Economic and Social Development.
During the presentation, the outcomes of the technical team’s work, formed under resolution No. (67) of 2024, regarding the preparation of the executive regulation draft, were reviewed.
Moreover, the discussion addressed key aspects not covered by the original law and proposed several regulatory provisions designed to align the LIA’s operations with internationally recognised standards and best practices for managing investment funds.
The meeting concluded with several important recommendations, most notably the call to organise a specialised workshop that would bring together international partners and legal advisors. This initiative aims to conduct a comprehensive review based on the Santiago Principles, which serve as a global benchmark for governance and transparency in the management of sovereign wealth funds.
Finally, the LIA reaffirms its commitment to supporting the enhancement of a legislative and investment framework, thereby improving asset management efficiency and ensuring the highest levels of transparency for the benefit of future generations.