Tripoli, January 31, 2010 - The Lybian people's congresses, the highest legislative bodies in Libya, just approved a law on establishing a free zone on the Libyan coast for a total investment of $ 20 billion (14.35 billion €) .After Energy City, promoted by Gulf Finance House, near Khoms, in collaboration with the Libyan fund economic and social development, the Jamahyria confirms its determination to expand the zones on its coastline, thereby developing synergies with Tunisia.

Located in the region Zouara, near the Tunisian border, this area is designed to "stimulate foreign investment outside the hydrocarbon sector," as announced by Mr. Saadi Gaddafi, the son of Libyan leader Muammar Gaddafi, during a Press conference held January 31 in Tripoli. The legislation on the organization of this area focuses on laws and powers which should enable the development of services. Investors shall be exempt from taxes for ten years.