Nabil Itani attends a press conference in Beirut, Wednesday, Oct. 19, 2016. (The Daily Star/Mohammad Azakir)
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The head of the Investment Development Authority of Lebanon said Thursday that companies seeking to make investments in Lebanon through the agency are awaiting the formation of the government before fully injecting cash into the country."Formation of a Cabinet will restore confidence in the country," Nabil Itani told The Daily Star.He added that IDAL does not focus on short-term operations, but rather seeks long-term engagements from investors.Itani revealed that IDAL received more inquiries from investors in the first six months of this year than the same period last year."Most of these investors are not shifting their attention to productive sectors such as industry and agriculture, instead of tourism," Itani said.He added that in the last three months IDAL inaugurated three agro-food factories in the Bekaa valley, showing investors are inclined to focus more on productive sectors.
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