Conference in Abu Dhabi to Usher Direct Investments in Lebanon

The UAE investments in are not something new. The UAE has been heavily investing in ’s and commercial sectors for decades, with the most recent data recording its investments at 11% of the total FDI inflows to . This conference comes to convene both UAE and Lebanese investors in the presence of officials from both countries, to discuss investments in .  

 

A Lebanese delegation of six ministers, as well as directors-general and government officials, led by PM , will partake coming Monday in the second UAE- Investment Conference in Abu Dhabi, which is held under the auspices of the UAE Ministry of Economy and Abu Dhabi Chamber of Commerce and Industry.

Via Gulf News

Lebanese Ambassador to the UAE Fouad Chehab Dandan and UAE Under-Secretary of the Ministry of Economy for Foreign Trade and Industry Abdulla Al Saleh met to finalize the preparations of the conference, and that in coordination with UAE Ambassador to Hamad Saeed Sultan Al Shamsi, officials from Abu Dhabi Chamber of Commerce, and a number of Lebanese economic experts.

 

Starting Monday, Oct 7th,  Emirati and Lebanese investors will convene in several sessions and workshops in the presence of Lebanese officials and a high-level Emirati which name hasn’t been disclosed yet.

It is worth noting that the UAE has been persistent in maintaining its position as a leading investor in with its foreign direct investment (FDI), hence the upcoming joint investment forum.

Via Gulf News Journal

 

According to the Investment Development Authority of (IDAL), Foreign Direct Investment (FDI) flows to jumped by 14% to $2.88 billion in 2018, compared to $2.52 billion in 2017. It is estimated that 29% of FDI inflows to came from the Middle-East.

Via NNA

UAE Ambassador to Al Shamsi commented to the Gulf News, “The UAE is also looking to expand investments to other areas, such as energy and free zones because the UAE believes that Emirati investments in will increase the confidence of investors from other countries to enter the Lebanese market, which will help overcome its current economic conditions.”

 

Al Shamsi also revealed that the bilateral trade between the two countries during the first seven months of 2019 stood at $598 million. Exports from were estimated at $255 million and exports from the UAE were about $343 million.

Via UrduPoint

Al Shamsi expressed his confidence in that the coming UAE- Investment Forum “would usher in a new era of investment in , with the participation of both the private and public sectors and supported by the Lebanese government.”

 

He ascertained that the bilateral relations between and UAE are at their best, hence the conference, which reflects ‘the interest of the UAE leadership in .’

Via Abu Dhabi Chamber

He also stressed that his country is ready to assist in managing future projects in by sharing its management expertise and the skills of its private sector, including major Emirati companies.

 

With that aim in mind, the UAE intends as well to actively participate in the upcoming CEDRE international conference in support of ’s development and reforms.

In that context, take a look at the 10 Reasons Why Foreign Investors Are Loving Lebanon.

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