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IDAL chief: North Lebanon ripe for investment

The chairman of IDAL Nabil Itani. (The Daily Star)

BEIRUT: North Lebanon has an array of untapped investment opportunities, the head of the Investment Development Authority of Lebanon said Thursday, vowing to extend the support needed to attract investors to the region’s lucrative agricultural sector. “North Lebanon is full of promising investment opportunities, particularly in agriculture. But there are barriers that we are working to resolve,” Nabil Itani added. He said the relatively low prices of agricultural land, affordable labor costs and the availability of raw materials were among very favorable factors that could encourage a substantial increase in agricultural investments. He said the north was emerging as the top recipient of export subsidies programs Agri Plus and Export Plus, adding IDAL would continue to boost support to the sector. Speaking during a tour of agricultural and agro-industrial projects, Itani said the development of olive oil packaging was key to boosting exports. “Olive oil is now included in export promotion program Agri Plus, and standards set by IDAL will help boost competitiveness in international markets,” he added.

 
A version of this article appeared in the print edition of The Daily Star on September 28, 2012, on page 5.

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