BEIRUT: Lebanon’s technology sector is expected to grow by 12 percent in 2011, the Chairman of the Investment Development Authority in Lebanon said.

The growth would be a boon to the Lebanese export industry, of which information technology and telecoms represents around 3 percent , Nabil Itani said during an investment and development technology workshop at the chamber of commerce, industry and agriculture Wednesday.

"Investment in [the technology] sector is estimated to be around $287 million in 2010 ... and so the expected growth for the year 2011 might reach 12 percent," Itani.

According to Itani, a third of the production in the information technology and telecoms’ sector is exported abroad, accounting for 2.9 percent of Lebanon's export industry.

The aim of Wednesday’s workshop was to encourage investment and to listen to the demands of the production industry.

Both Itani and local analysts agreed that IT has a range of benefits for Lebanese businesses. Computer technology helps companies meet customer needs, enter new markets and build value in the services they offer.

“Over 20 percent of Lebanese companies use and rely on information technology to produce and market their products and services," Itani said.

Large organizations such as telecommunication, aviation and banking institutions rely heavily on their IT infrastructure to conduct their business activities and more firms  are jumping on board across the country, analysts say.

“Technological projects which received IDAL's financial support account for 12 percent of the total number of projects that IDAL had supported since 2003 and are worth $16 million providing 323 job opportunities," Itani said, adding that there were many investment opportunities in the Internet development sector.