Dr Bill: Not true!
That may be true for greater Libya, but it is NOT at all true for the Free Trade Zone in Misurata! Libya's honorable General People's Committee (GPC) has issued their formal notice to those companies doing business outside this Free Trade Zone. Any business establishing itself outside this Zone will have to abide by the GPC's guidelines. Thank goodness for the fact that Global Oil Tools Libya does NOT have to abide by those required guidelines, since it is NOT establishing itself outside the Free Trade Zone in Misurata.
From an earlier statement given by RG Raymond: "My sincere thanks to Mr. Mohamed Hagegh, head of the General People's Committee for the Free Zone City of Misurata, for his acknowledgement and support to the benefits this project provides to the local communities."
The joint venture between Global Oil Tools, Lyamec, American Finance and local Libyan Government Agencies has been established under very careful guidelines -- those that are just as much required by the US State Department, as much as they are required by Libya's GPC.
On a further note, let's not forget that Jerry Swinford is also in a process of similarly establishing joint ventures with the Free Trade Zone in Misurata. CTT, too, will have a valuable presence there.
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