Lebanese Republic 
Salam met in Washington representatives of 30 American pioneer companies
Despite all the challenges, projects of infrastructure, energy and water still constitute important opportunities for foreign investors.
As part of his visit to Washington, Minister of Economy and Trade, Amin Salam, held a meeting at the US Chamber of Commerce with representatives of the US private sector with the participation of 30 pioneer companies, namely in the field of energy, water and transportation in order to discuss about the situation in Lebanon under the current exceptional circumstances. Minister Salam stated: the fact that the country is witnessing difficult economic and financial situations does not deny the existence of various fields and opportunities that the US private sector can invest within; while encouraging to take this step for the interest of both countries; and the best example is the French investments in addition to many others in the field of energy, sea facilities and other vital sectors.
Furthermore, Salam added: the sad truth consists in the absence of comprehensive legislative reforms which is preferable to be part of the International Monetary Fund´ program, due to harsh political conflicts and the struggle over power that serve non-national narrow interests, while the whole world is standing still watching. If the political parties will not take a fast decision to save the country, then the economic and financial future on the short and medium terms will be definitely gloomy which will consequently expose to danger its capacities as a foreign investment destination.
He also added: the whole thing depends on how the long awaited economic reforms and governance will be achieved; attraction of international assistance and foreign investment; stabilization of the exchange rate; recapitalization of the financial sector and structuring the banking sector; which all constitute essential reforms that require seriousness and time that may also be accompanied by huge investments in main infrastructures such as energy, water, transportation, health and environment.
Minister Salam pointed out that Lebanon still enjoy the legal grounds for a free market economy, including the new competition law that we recently approved in addition to high skilled workforce of various specializations as well as limited restrictions on investors and more than 225 km of Mediterranean coast along with the possibility of huge reserves of natural gas and one of the best touristic destinations in the Middle East and North African region.
Moreover, Salam stressed that the energy sector is the more attractive one, especially in terms of renewable energy´ production as well as petrol and gas exploration despite all the current challenges due to corruption and lack of transparency. Historically, sectors of tourism, information technology, communications, health care, safety and security have always attracted foreign investments and still, in spite of all the current challenges that the country is facing. It is worth mentioning that opportunities will always be promising for international companies and investors, namely the American ones for their known capacity to invest under difficult circumstances and in unstable countries.
He also stated that he is in contact with international investors in a regular way, trying to keep a positive future vision, mainly with Lebanese expatriates who constitute major potential investors whom their concerns comprise excessive organization; arbitrary permits; outdated legislations; inactive courts; high taxes and fees; weak infrastructure; a broken down banking system. These are all reforms that can be quickly achieved to attract the investments of Lebanese expatriates within the first stage of the growth and recovery path.
