Libya Business News
Monday, March 20, 2023
  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos
No Result
View All Result
Libya Business News
  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos
Libya Business News
No Result
View All Result
Home Investment

Asset Freeze Lifted on ODAC

26th January 2013
in Investment, Security
Asset Freeze Lifted on ODAC
Share on FacebookShare on Twitter

The European Union has lifted the financial sanctions placed on Libya's Organisation for Development of Administrative Centres (ODAC).

But asset freezes remain in place against Libyan companies and individuals, a list of which can be found here. Affected entities include the Libyan Agricultural Bank, the Libyan Arab African Investment Company and the Libyan Holding Company for Development and Investment.

ODAC had its assets frozen on 10 August 2011 for being an “entity acting on behalf of, or at the direction of, the Qaddafi Regime and a potential source of funding for the regime.”

Infrastructure law expert Rob Wilkins of Pinsent Masons said:

"The news sends an encouraging message to European businesses that are looking to take advantage of the many engineering and construction opportunities Libya has to offer, particularly for construction firms offering design, engineering, project management and consultancy services.

"Libya's geographical proximity to Europe makes it an exciting place to do business. This, coupled with the democratic progress that the country is making, makes contracting with the ODAC a highly attractive prospect."

(Sources: Libya Herald, Pincent Masons)

Tags: EUEuropean UnionFrozen AssetsLibyan Agricultural BankLibyan Arab African Investment CompanyLibyan Holding Company for Development and Investment.Organisation for Development of Administrative Centres (ODAC)Pincent Masonssanctions

Latest News

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

4th October 2021
Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

22nd March 2021
Latest Oil Tenders

Latest Oil Tenders

16th March 2021

Recent News

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

4th October 2021
Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

22nd March 2021

Categories

  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos

Menu

  • Home
  • About Us
  • Contact

Join our mailing list!

Sign-up to receive email updates on the latest news and developments.





© 2021 Libya Business News - Your Libyan business news partner

No Result
View All Result
  • Security
  • Oil & Gas
  • Banking & Finance
  • Politics
  • Industry & Trade
  • Construction & Engineering
  • Investment
  • Tenders
  • Transportation
  • Videos
  • Contact Us

© 2021 Libya Business News - Your Libyan business news partner

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “I Agree”, you consent to the use of ALL the cookies.