The IDAL logo. (The Daily Star/Mahmoud Kheir)
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The investment applications processed by IDAL in 2013 shrank to $190 million from $240 million in 2012 due to the deteriorating situation in Lebanon, the head of the government-run agency said Thursday.According to the Investment Development Authority of Lebanon, the projects processed by the agency in 2013 created 892 direct jobs, mostly in the tourism sector.Tourism represented 52 percent of the jobs created through IDAL last year, followed by 28 percent in the industrial projects. Founded in 1994, IDAL's main task is to promote Lebanon as a key investment destination and to attract, facilitate and retain investments in the country. IDAL also assists major investments that create hundreds of jobs with procuring tax exemptions and other benefits.
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