Shaqir
First, Choucair welcomed the members of IDAL’s Board of Directors, headed by Mneimneh, at the headquarters of the Lebanese economic bodies, the Lebanese Economy House, congratulating their appointment, and wishing them “good luck and success in their national tasks that affect all Lebanese.”
Choucair stated that “IDAL was established in 1994 during the era of the martyr Prime Minister Rafik Hariri, as part of the government’s efforts to rebuild Lebanon after the civil war, and to attract local and foreign investments with the aim of strengthening the Lebanese economy and developing the production, industry and service sectors.”
He pointed out that “the Foundation’s role was strengthened in 2001 through Law No. 360 to encourage investment,” considering that “more than three decades after its founding, and nearly a quarter of a century after the Investment Encouragement Law, the Lebanese private sector is looking forward to making fundamental amendments to the law in line with the requirements of the stage and making Lebanon a competitive and attractive destination for investment.”
He pointed out that “the past years, and the successive crises and wars they witnessed, led to Arab and foreign investors moving away from Lebanon, and Lebanese investments declined to their lowest levels.”
He expressed his aspiration “today to a new phase of peace and stability, and to an effective role for IDAL,” expressing his “great hope that the new board of directors will achieve a qualitative shift in the work of the institution and encourage local, Arab and foreign investments,” stressing that “the economic bodies will always be alongside the council in everything that achieves the national interest,” stressing that “Lebanon, with its enormous capabilities, is capable of rising again and restoring its economic position.”
Mneimneh
For his part, Mneimneh explained that “the Council’s work is currently focused on revitalizing IDAL and activating its role in encouraging and stimulating investment in Lebanon,” stressing “the necessity of close cooperation between the Board of Directors of IDAL and economic bodies to activate the institution’s role as a national economic lever.”
He pointed out that “the new council is making great efforts to develop strategic programs to advance the institution and keep pace with the national economy,” pointing in this context to the “one-stop-shop” project for transactions, and the establishment of an electronic platform that provides investors with all information related to investment in Lebanon, including the incentives and available opportunities, explaining that “the council is working to prepare an integrated vision for the institution.”
He stressed, “We look forward to fruitful cooperation with economic bodies to advance this path, in addition to working to communicate with the Lebanese abroad to attract and encourage them to invest in Lebanon and benefit from their experiences and ideas.”
discussion
After that, a lengthy discussion took place among the attendees, during which the need to develop an integrated vision for the institution was stressed, specifying the target sectors with high feasibility, and the various incentives offered to investors. It was also stressed on the continuation of joint cooperation between the two parties to advance “IDAL” projects in a way that serves the economy. (National Agency)
