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Saudi businesses urged to take up Lebanese expertise

The Lebanese Week in Jeddah.

BEIRUT: President of the Chamber of Commerce, Agriculture and Industry in Beirut Mohamed Choucair Monday encouraged Saudi businesses to invest in Lebanese companies.

“We ... encourage our Saudi counterparts to come to Lebanon in order to cooperate with Lebanese and Syrian companies for the reconstruction of Syria,” he said during a meeting with over 60 Saudi businessmen, as part of Lebanon Week in Jeddah, a showcase of Lebanese products and services that attracted over 5,000 visitors from April 5-7.

Also at the event, Investment Development Authority of Lebanon Chairman Nabil Itani highlighted the breadth of potential for Saudi investments across the Lebanese economy.

“There are many investment opportunities in ... sectors such as information technology, telecommunications and agriculture,” he said, adding that IDAL was ready to provide incentives and facilities to encourage potential investors.

Meanwhile, Fouad Fleifel, the acting director-general of the Ministry of Economy and Trade, emphasized the importance of boosting cooperation between Lebanese and Saudi businessmen for strengthening the competitive capacity of their respective countries in the Arab region.

“We have the expertise and skills while Saudi businessmen have huge financial capacity and these two components would increase our competitiveness in the Arab region and internationally,” he said.

 
A version of this article appeared in the print edition of The Daily Star on April 09, 2014, on page 5.

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