MAY 2019
Dear Readers,

Lebanon is witnessing the roll-out of a series of legislative and business reforms to improve its business climate, while implementing related recommendations issued by the World Bank, the Lebanon Economic Vision report (the McKinsey Report) and UNCTAD's Investment Policy Review.

It is now easier than ever to do business in Lebanon, given its strategic location, favorable tax schemes and highly skilled workforce.
 
For more information, please visit our website or do not hesitate to contact us.
NEWLY-ENACTED BUSINESS FRIENDLY LEGISLATION
  • E-Transaction Law, enabling digital documents and contracts
  • Amendments to the Code of Commerce to meet the demands of technology and digitization of doing business in Lebanon
  • Waste Management Law, providing a variety of business opportunities to cleantech companies.  
  •  Whistleblower Protection Law to support the government’s anti-corruption campaign
  • Judicial Mediation Law, facilitating resolution of conflicts 
NEW REFORMS AND GRANTS TO IMPROVE INFRASTRUCTURE
  • A USD 43 million World Bank grant to modernize Lebanon’s digital and administration system
  • Parliament endorsement of two World Bank projects aimed at Health Resilience and Roads and Employment, while a project on Strengthening Fiscal Governance is in the pipeline
  • A USD 43 million World Bank grant to enhance access to property rights data and geo-spatial information by modernizing the Digital land Registry and Cadastre System
  • Signing of a MoU between the Port of Beirut and the Association of the Lebanese Industrialists to reduce duties on imported raw materials by 50% 
NEW FUNDS AVAILABLE TO FINANCE INVESTMENT PROJECTS
  • The Central Bank of Lebanon launched a USD 1.1 billion economic stimulus package to stimulate the Lebanese economy
  • The EBRD extended a USD 20 million financial package for the upgrade and expansion of the electricity distribution network and deployment of smart meters to improve the reliability and efficiency of the distribution grid
  • Byblos Bank signed a EUR 200m loan agreement with the European International Bank to finance SMEs
  • Mobile phone operators Alfa and Touch launched a USD 48 million technology fund aimed at investing in local ICT startups  
INVESTMENT ACTIVITIES
Over the course of Q1 2019, IDAL attracted 12 greenfield investment projects seeking to benefit from its various support schemes, including fiscal incentives, totaling USD 303.5 million .

Access the full report for a breakdown on sectors and additional details.
LEBANON'S AGRO INDUSTRY
The Agro-Industry sector is a major contributor to the growth of Lebanon’s industrial sector and is expected to continue to play a major role in the economy, driven by government support and private sector initiatives.
There are around 1,400 Agro-food companies constituting the largest share of total industrial firms in Lebanon.
 
Exports of agro-food products accounted for 15% of total exports and 16% of total industrial exports in 2018. Despite all external and internal challenges, agro-food exports have been growing at a compounded annual growth rate of 4% since 2009, demonstrating the sector’s resilience and potential. 

NEWS HIGHLIGHT
INVESTMENT POLICY REVIEW REPORT IS OUT

IDAL, along with the United Nations Conference on Trade and Development (UNCTAD) launched at the Grand Serail the Investment Policy Review report for Lebanon which included various recommendations for reforms.

This report is the 3rd strategy document for the Lebanese government to be published in 2018 focused this time around on investment strategies and business reforms. The event which gathered public authorities and international organizations, put forth concrete projects and initiatives that could be implemented to enhance the business environment.

WATCH THE VIDEOS HERE
WHY LEBANON?
From its investment schemes to competitive advantages and investment opportunities, all you need to know about doing business in Lebanon.