JUNE 2020
Dear Readers,

We are in for challenging times as a result of the pandemic and the economic situation in the country.. But it is through challenges that economies and businesses emerge stronger and more stable. As Lebanon continues its negotiations with the International Monetary Fund (IMF) we are looking forward to quickly move on to a discussion on supporting our productive sectors.
In parallel, as we slowly gain our normal activity post COVID-19 lockdown, we are excited to share with you some of the initiatives we did to mitigate the risks of the pandemic on businesses. We are also very proud of the Lebanese innovations that emerged as a result.

We hope you will benefit from this newsletter edition. Please reach out if you have any feedback.


Best wishes,

Mazen Soueid
Chairman and General Manager

Join me in conversation on Twitter @MazenMSoueid
BENEFIT FROM OUR FREE ONLINE SERVICES
Book your appointment now to meet our legal and tax advisors online. This service is free of charge and made available to mitigate the risks on businesses imposed by the current crisis.  
CONFUSED WITH ALL THE CHANGING REGULATIONS?
As Lebanon witnesses one of its most challenging periods in years, we have put together a crisis-management online platform LEBANON UPDATES whose aim is to provide businesses with centralized information on all measures and updates implemented in Lebanon to deal with the consequences of those challenging times.

The platform is available in both English and Arabic and is updated daily to make sure that the latest measures are captured in order for you to have an informed decision regarding the sustainability of your business.
 
With IDAL being the national investment promotion agency responsible for attracting and sustaining investments, it is our duty to make sure that your business is safe and well taken care of.

We hope that we will surpass this period stronger because we are #INITTOGETHER
INVESTOR TRAFFIC TO IDAL
MARCH-JUNE 2O2O
Despite the economic, fiscal and health issues that the country has been facing, IDAL has seen an increasing investor appetite in industries that will serve as import substitution for foreign goods. In the last 3 months and since the start of the lockdown, IDAL has been in contact with more than 35 investors with serious investment leads in Industrial and Agro Industrial factories as well as Agricultural projects.

More than 30% of the investments were in the Agro-Industrial sector, 23% in ICT and 21% in Industry.

The current economic crisis is serving as an opportunity for Lebanese investors to put together their entrepreneurial skills and start producing locally, become less dependent on expensive imports while contributing to food and economic security.This has been coupled with an increase readiness for companies to explore external markets, taking advantage of the devaluation while tapping on the potential of the country to become a hub for outsourcing products and services.


ANNOUNCED PROJECTS BY SUB-SECTORS
 
The Agro - Industrial sector attracted 11 potential greenfield projects with 3 projects dedicated to the production of Pasta . Lebanese SMEs are trying to adapt to the new normal and are increasingly interested to produce locally and address local demand. 
The production of pasta has gained increasing interest from investors due to its low capital investment requirements, the simplicity of the process of the production of pasta, and the increasing cost of imported pasta. 





The ICT sector attracted the second largest number of potential greenfield projects with important concentration of projects in e-commerce solutions. The ICT sector will be the prim ary battleground for Lebanon to compete against regional peers in increasing the market share of outsourcing IT services to the GCC countries.












The Industrial sector attracted 7 potential greenfield projects across various sub-sectors with primary focus on the production of pharmaceutical products, medical supplies and Personal Protective Equipment (PPE) that are related to COVID-19.
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Despite all the challenges, IDAL granted a package of incentives to Agrotica, one of the biggest investment projects in the Bekaa today.
The project's advanced use of technology in agribusiness such as vertical intensive plantation and the use of moisture sensors makes it an ideal model for the future of the industry.

IDAL granted Agrotica an exemption from corporate income tax for up to 10 years.

If you have a project in mind and would like to benefit from IDAL's incentives , contact us or check what we can do for you.
IDAL GRANTS INCENTIVES TO BIGGEST AGRI PROJECT IN BEKAA
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LEBANON INNOVATES DURING COVID-19 CRISIS
We have put together a summary document of  Lebanese  innovators, whether companies, SMEs or startups, whose various initiatives during  COVID_19  have positively impacted society and helped in mitigating the risk of the virus.


Do you know of someone who should be on the list? Let us know ! We are updating it regularly.
IDAL SIGNS MOU WITH MINISTRY OF INDUSTRY
In light of the current financial crisis and its impact on the industrial sector, there is an urgent need to join efforts to develop programs that help small and medium-sized companies to continue in light of the current downturn and pave the way for a new model of industrial production.

Over the past few months, IDAL has played a pivotal role in communicating with donors and other international organizations to develop solutions that reduce the negative impact of the crisis and maintain employment opportunities in this sector. With this aim, IDAL signed an MOU with the Ministry of Industry that enhances collaboration between both entities in; market studies, trade missions, sectors promotion, regional promotion, and investment facilitation.

NEWS HIGHLIGHT
SUPPORT VISITS TO INDUSTRIALISTS

In an effort to promote for and support Lebanese producers, Chairman of IDAL Dr. Mazen Soueid, visited honey manufacturer Jabal El Sheikh headed by Mr. Hussein Kadamani.
Supporting Lebanese industries is crucial to our economy especially in times of crisis.