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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Tomas who wrote (1840)9/13/2000 6:01:57 AM
From: Tomas   of 2742
 
National Conference On Libyan Economy Ends
Panafrican News Agency (PANA) Daily Newswire, September 12

TRIPOLI, Libya (PANA) - The third national conference on the Libyan economy ended in Tripoli Monday.
...
During the conference, Libyan economists insisted on the need to reorganise the banking institutions as well as the internal and external investment supervising organs.
In this regard, the conference called for a revision of laws pertaining to foreign investments, exports and imports.

It also proposed a new law on oil exploitation "with a view to promoting the flow of investments in the sector and particularly in oil transformation industries." The delegates also called for the unification of the official and unofficial rates of the Libyan dinar and the lifting of the various constraints inherent in the exchange control policy.

The Libyan currency officially exchanges for between 0.50 and 0.52 to the US dollar.
At the unofficial market, the greenback is bought at 1.7 or 1.75 dinar, against three dinars, before the lifting of UN sanctions in April 1999.

Libyan business circles responded favourably to the conference, which also called for a plan to increase the country's potential in the tourism, agriculture, animal resources, and fisheries sectors.
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