Rights and Obligations of Directors in Foreign Investment Companies in Libya

This study examines the rights and obligations of managers of foreign investment companies under Libyan law by analyzing the relevant legal texts—most notably the Investment Promotion Law No. 9 of 2010 and the Commercial Activities Law No. 23 of 2010. The findings indicate that the Libyan legislator has largely succeeded in establishing a balanced legal framework that guarantees managers comprehensive administrative, executive, financial, and informational rights, while imposing graduated obligations encompassing sound governance, legal compliance, and financial and legal responsibilities. Despite the strength of the theoretical framework, implementation faces challenges that require developing supervisory capacities and specialized training mechanisms. The study recommends strengthening oversight, establishing training centers, and creating alternative dispute-resolution mechanisms, thereby contributing to attracting foreign investment and achieving sustainable economic development. It also underscores the importance of aligning governance and disclosure practices with the G20/OECD Principles of Corporate Governance and activating Libyan capital-market requirements to protect investors and enhance transparency, in addition to drawing on UNCTAD’s Investment Policy Framework for Sustainable Development to update implementing regulations and improve the business environment.