BEIRUT - Lebanon’s economic bodies and the board of the Investment Development Authority of Lebanon (IDAL) held talks on reviving the country’s investment climate, with a focus on reforms to modernize the agency and restore investor confidence.
Former minister Mohammad Choucair said Lebanon’s private sector expects “fundamental amendments” to the country’s investment law to make Lebanon more competitive and attractive to local, Arab, and foreign investors.
He noted that IDAL was established in 1994 during the era of former Prime Minister Rafic Hariri as part of post-civil war reconstruction efforts aimed at attracting investment and boosting productive sectors.
IDAL’s newly appointed board, headed by Majed Mnaymneh, said the new board is focused on restructuring and reactivating IDAL’s role as a national economic driver. He stressed the need for close coordination with the private sector to encourage investment and improve the business environment.
Mnaymneh said the board is working on strategic programs, including a “one-stop shop” system for administrative procedures and a digital platform providing investors with information on opportunities, incentives and regulations in Lebanon.
