Lebanese Republic 
Minister of Economy and Trade Raed Khoury received this morning a delegation from the International Finance Corporation
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Minister of Economy and Trade Raed Khoury received this morning a delegation from the International Finance Corporation (a group of the World Bank) in the presence of the Director General Alia Abbas whereof discussions tackled the bilateral ties between the Corporation and Lebanon.
Both parties discussed the reform steps made in the economic and trade policies and the possibility to cooperate between the cooperation and Lebanon. For this purpose, it was convened to take number of steps that provide financing for small and medium enterprises (SME’s) as well as to facilitate the trade and the access of the lebanese products to foreign markets.
Discussions also tackled issues of the SME’s support mechanisms according to specific standards in order to define the productive sectors, create new job opportunities and promote exports; in addition to the support provided by the corporation to develop the productive capacities of some industrial sectors and enhance the investments and business climate by updating the applicable laws.
Furthermore, Minister Khoury welcomed a delegation from the Association of Lebanese Industrialists chaired by Doctor Fady Gemayel in the presence of Director General Alia Abbas and discussed the industrial claims under the current conditions that the industry is going through.
At the end of the meeting, Gemayel said: “As an Association of Lebanese Industrialists, we visited Minister Khoury in order to prepare an action plan regarding the rightful demands of the industry. Consequently, we heard promises from the Minister to set things right. Given the enormous suffering of the industrial enterprises and the growing unemployment, we exert all our efforts, as industrialists, to largely contribute in the national economy”.
In this regard, Gemayel declared: “we made an action plan with the cooperation of the Minister that requires the need to concert efforts. This is a chance not to be missed within the presence of the three presidents Michel Aoun, Nabih Berri and Saad Hariri in order to give greater prominence to the industry sector; without forgetting the enthusiasm of Minister Khoury and the courage of Minister of Industry Hussein Hajj Hassan in this regard. We all hope to get our essential rights under the mandate of President Aoun whereof the Lebanese industry sector can create job opportunities while increasing our exports to foreign markets, given that our exports decreased since 2011 to more than one billion and 300 thousand dollars”.
In his turn, Minister Khoury pointed out that “our meetings held with the Association of Industrialists revealed to be always efficient and successful. It is to mention that we cannot change our income economy to a productive and sustainable one without the presence of the industry sector, for the latter constitutes the backbone of the lebanese economy; thus creating job opportunities and expanding the Gross National Product (GNP), especially in the presence of competitive industries capable of being exported. From our point of view, the lebanese industry is not made to fulfill the needs of the Lebanese people only but is considered a cross-border industry, where lebanese products can be exported to Arab and African countries.”
Moreover, he added: “we discussed two main paths: the first path consists in the economic plan that we undertake as ministries and economic actors side by side with the private sector and all stakeholders in coordination with McKinsey company consisting in finding the industrial sectors seen as a privilege to the Lebanese government and capable of effective development. For this reason, our work consists in setting up these frameworks to protect and encourage these sectors as well as to ratify all related laws. This workshop is essential to adopt these sectors and inform the investors about the importance the Government attaches to these sectors. As for the second path, it tackles the short term regarding the issues presented at the Council of Ministers which include the industrial products that need to be protected from competition and widely exported. We will discuss many industrial products consecutively during the Council of Ministers meeting to protect them, through the increase of the custom duties or a moratorium on the importation; as well as to stop smuggling and take other procedures to protect these industries considered as strengths for our economy”.
At the end, Minister Khoury concluded “we totally rely on these two paths in a quick but effective manner”.
