As of April 2011, no one knew how long things would take to end, or how they would. Abandoned assets and loss of revenue, the multinational companies could not afford to have future plans. 1. What are their current political and legal systems? The first elected government official was sworn in on November 14, 2012. What economic system do they practice? They have a command economy. The government decides how their resources are used. What are their rules and regulations related to repertory rights and intellectual property rights? They do not have much property rights.
It is all still getting figured out. In the past personal property could be taken by the government and given to poor. 2. Has the conflict ended? After Mummer Qaeda was murdered, the civil war ended. The new president is working on fixing things. What happened to Miramar Qaeda? He was beaten to death in his home town by Libyan rebels. Who is the current president? In July 2012, elections were held for a General national Congress. This was the first free national election in six decades. The new prime minister is All Seized. 3.
What lessons can be learned about political risk in countries run by totalitarian regimes such as those in the Middle East? They can be very profitable because they do have resources that other countries utilize, but there is huge risk as well. If there is a war, disagreement, change in government, or other upsets that may come along, the business may be shut down, blown up, or taken over. Much money can be lost, lives can be lost, and equipment can be. 4. As an executive of EN or Consulship’s, what are your plans for future of your operations in Libya.
My future plans would be to go back and rebuild my business. I still feel that I have an obligation to my stakeholders, employees, and their families. We knew going in that there could be risks, and things are on the mend now. It was worth the risk in the past, I feel that it is worth the risk now. 5. As an executive at BP, Gaspers, or Since, given this traumatic experience in Libya, would you recommend that in the future your firm enter another oil-rich country with a similar political system with its typical problems (such as dictatorship, corruption, and nepotism) that provoke mass unrest in the Middle East?