Tuesday, September 29
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Emirati, Lebanese Investment Forum in Abu Dhabi

The Lebanese-Emirati Investment Forum was launched Wednesday in Abu Dhabi, under the patronage of UAE Minister of Economy, Sultan Bin Saeed Al Mansoori.

The Forum is organized by the Emirati Ministry of Economy, in cooperation with the Union of Lebanese Chambers of Commerce, and Abu Dhabi Chamber of Commerce.

Minister Al Mansoori attended the launch of the Forum, alongside a Lebanese economic delegation, including businessmen from different economic sectors, chaired by President of Lebanon's Chamber of Commerce, Industry and Agriculture, Mohammad Choukeir.

Minister Al Mansoori said that his country sought to strengthen relations with Lebanon, based on the deep historical ties between the two countries.

Referring to Lebanon's potential, and the desire to consolidate bilateral cooperation, he deemed the forum an important opportunity to discuss the axes of cooperation and to address opportunities in the fields of trade and investment, during the next period.

"Emirati investments in Lebanon reached more than $7.3 billion in 2016. The investments covered several sectors such as civil aviation, port management, banking services, trade, real estate, tourism and energy," Al Mansoori said.

In turn, Choukeir stressed the need to take adequate measures to consolidate bilateral cooperation, within the framework of a clear vision, based on realities and the possibilities of investments between the two countries and their peoples.

"In Lebanon, we realize the magnitude of change and challenges. Accordingly, the Lebanese government has developed a comprehensive investment program to modernize infrastructure. This program includes 280 infrastructure projects, as well as Lebanon's commitment to comprehensive reforms that ensure the competitiveness of the national economy is improved, while increasing the competency of services and reducing their cost, in a context of transparency, accountability, and equal opportunities," he explained.

Choukeir finally recalled that Lebanon had managed to obtain approximately $11.8 billion in the CEDRE Conference, to finance said program.

"We await the formation of the government to launch these projects, knowing that most of these projects will be executed in partnership between the public and private sectors," he concluded.

Source: National News Agency