Mouayed Makhlouf, regional director, Middle East and North Africa region, IFC. (The Daily Star/HO)
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Lebanon is the lowest-ranking Arab country for economic competitiveness, according to a new report by the International Finance Corporation and the World Economic Forum. The Arab World Competitiveness Report 2018, launched Tuesday in a roundtable discussion with the authors, has ranked and analyzed countries based on 12 factors, from education to infrastructure, considered crucial for economic growth. In the Arab world, the report found that many countries, particularly those rich in natural resources, are struggling to diversify – one area where Lebanon is generally faring better than the Gulf.The report also notes the positive steps Lebanon has taken in developing its startup ecosystem, with the central bank having pledged to invest $600 million into innovative firms.
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