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First chocolate museum in Beirut

2-1-2019

The first ever chocolate museum in Lebanon and the Middle East opened its doors in Verdun under the auspices of prime minister Saad Hariri and with the presence of the Belgian Ambassador to Lebanon. Choco-Story, tells the story of the transformation of cocoa into chocolate starting from the Maya and Aztecs civilizations up till the present day. During the opening ceremony, the museum’s chair, Mohamad Hashweh, introduced the project as a worldwide museum located in Bruges in Brussels, Paris, Prague, New York and Mexico. He said the venue embraces a training and instruction center on the making of chocolate for students and chocolate lovers allowing them to live the chocolate experience. Hashweh pointed out that made-in-Lebanon chocolate is very popular and famed in Arab countries, noting that the exhibition was opened to highlight chocolate manufacturers in Lebanon. (L’Orient Le Jour, January 2, 2019)

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Displaced Syrians in Lebanon fall deeper into debts and poverty

28-12-2018

The results of a study implemented by UNHCR, WFP and UNICEF have shown that around 88% of Syrian refugee families in Lebanon have debts. The survey released by UNHCR on December 25, stated that the average household debt has increased steadily over the years from USD 800 in 2016 to USD 900 in 2017 and to more than USD 1,000 in 2018. This indicates that even with the assigned aid, refugees still lack sufficient resources to meet their basic needs, the report said, noting that nearly 69% of refugee families in Lebanon are living below the poverty line, while more than 51% live below the daily minimum expenditure basket which is USD 2.90. UNHCR representative in Lebanon, Mireille Girard, explained that the situation is still risky for most families, pointing out that in compensation for economic shortfalls, more than 90% of households resort to negative coping strategies, including consuming cheap junk food, spending days without eating, incur more debt and engage in child labor. The study also revealed that child labor continues to be a problem among displaced children, where 5% of children aged between 5 and 17 work at least one day. On the other hand, the report indicated a rise in child marriage, where 29% of Syrian girls aged between 15 and 19 got married during 2018 at an increasing rate of 7% from last year. In terms of education, the study showed a large age gap between the youngest age group (3-5 years) and the older age group (15-17), where nearly 8 out of 10 Syrian kids are in school. (An Nahar, Al Hayat, Al Mustaqbal, December 26, 2018)

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Regional integration through boosting entrepreneurship

27-12-2018

The chairperson of the Investment Development Authority of Lebanon (IDAL), Nabil Itani, underlined yesterday the importance of engaging different Lebanese areas in development through entrepreneurship. Itani, who was speaking during a visit to the Chamber of Commerce in Tripoli and the North to learn about its latest projects, pressed for increased participation of young people in the economic process to the end of enhancing growth, reducing the phenomenon of migration and promoting the specific resources of each region. Itani stressed the need to create suitable conditions to reach desired social and economic growth through backing the Chamber’s sustainable development initiatives in order to realize the required objectives. Itani said IDAL is fully prepared for partnering and cooperating in the feasibility studies of the various investment projects. He said he listened to in-depth explanations about the undertakings which boast enormous investment potential and highlight the economic assets Tripoli and the North own. (Al Mustaqbal, Al Diyar, December 27, 2018)

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Migration of Lebanese youth in 2018

27-12-2018

Between mid- January to mid-October 2018, nearly 2,730, 290 Lebanese people left the country and 2,695,788 people returned, An Nahar newspaper reported today. This means that around 34,502 people never returned against 20,964 people coming back during the same period of last year. The rates, An Nahar wrote, are a natural consequence of the socio-economic situation in Lebanon, noting that it is an alarming indicator of the future of the country, especially that the majority of those migrating are young people. If the reasons and goals for travel stayed unknown, An Nahar analyzed, there are many youths (about 8,000 persons) who go abroad for study and then return to their country. This number represents roughly half of the departures in the month of September which is the start of the academic calendar, An Nahar concluded. (An Nahar, December 27, 2018)

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China ready to invest in Tripoli as part of the Silk Road

26-12-2018

In the framework of efforts to speed up Lebanon’s accession to the new Silk Road initiative, the president of the Chamber of Commerce for Tripoli and the North, Toufic Daboosi, received on December 20 a business delegation including, Samer Hadara and the head and deputy of a specialized contracting and bridge construction Chinese company. The meeting discussed ways to build cooperation and launch major joint undertakings. Hadara pointed out that the involved Chinese firm has spelled out its readiness to develop investment projects in the Middle East region, particularly in Tripoli and North Lebanon due to the competitive and attractive advantages of the area. Similarly, Daboosi maintained that the Chinese will be the real partners for the next phase, especially with Lebanon’s signing of an agreement to access the Silk Road Initiative. “We look forward to building extensive partnerships with various Chinese and international companies,” Daboosi said, adding, “the Chinese are expected to play a pivotal and vital role at all levels in the near future.” For their part, the Chinese delegates expressed their preparedness to cooperate through workable procedures extended by the private sector dynamism in order to dodge the killing bureaucracy of the public sector. (Al Diyar, December 21, 2018) 

Related news:
Economic cooperation agreement with China
Chinese interested in connecting Lebanon to the Silk Road via Iraq, Syria
Tripoli slowly progress economically on the silk road
A modest step for Lebanon along China’s new silk road
Tripoli linking with New Silk Road
Lebanon starts the process of accession to the Silk Road Chinese initiative
 
 

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Lebanon imports USD 52 million worth of fertilizers

26-12-2018

Lebanon’s imports of agricultural fertilizers in 2017 have reached 130,549 tons with an estimated value of USD 52 million, Al Akhbar reported. The total volume of exports during the same year amounted to USD 50 million (LBP 76 billion), including different types of animal-based and plant-based organic fertilizers. They also included chemically processed fertilizers of plant or animal origin, in addition to mineral and chemical fertilizers, according to the General Directorate of Customs. Belgium reportedly ranked first among exporting countries, with imports standing at 12,720 tons at USD 7,400,000. (Al Akhbar, December 25, 2018)

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More funds to support SMEs in Lebanon

20-12-2018

As part of boosting small and medium-sized businesses in Lebanon, Societe Generale de Banque au Liban (SGBL) signed an agreement yesterday with the International Finance Corporation (IFC), a World Bank Group member. Under the agreement, IFC provides USD 100 million in facilities to SGBL aimed at easing access of SMEs to finance and help in developing climate finance. The IFC funding system consists of two loans: a USD 57.16 million loan from the IFC account and a USD 42.84 million created by the IFC through its MCPP program. IFC’s advisory group will also support SGBL to strengthen its finance climate and help in mitigating the impact of climate change. In the same vein, the minister of telecommunications in the caretaker government, Jamal Jarrah, stressed the need to boost SMEs through supporting national economy.  Jarrah was speaking during the opening of Alfa’s 13th flagship store in Bekfaya. (Al Mustaqbal, Al Diyar, December 20, 2018)
 

Previous related news: 
French corporate support to Lebanese SMEs
New fund to support SMEs in the region
Nine of ten companies in Lebanon are SMEs
Roadmap to develop SMEs and for greater employment
The Lebanese Women Angel Fund up and running
 

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Infrastructure rehabilitation awaits Cedar & government formation

19-12-2018

The Lebanese authorities seek to implement a number of major construction projects under the Cedar donor conference (c.f: http://www.lkdg.org/node/17792), including some undertakings that were, until now, kept secret. Among these projects, An Nahar daily mentioned the Tripoli Special Economic Zone (SEZ). The latter’s president, Raya Hassan, announced during the Cedar conference the completion of the financial and economic feasibility study in preparation for launching the infrastructure development bid in early 2019, and the anticipated operation of the zone in 2020. Recalling, that the projected sectors inside SEZ include, a center for consulting services, a complex housing public sector departments, companies or local and international institutions, a training venue and a startup accelerator center. Meanwhile, the Parliamentary Committee on Foreign Affairs and Immigration held a session on December 4 chaired by MP Yassin Jaber during which it ratified two draft bills. The first is the proposal requesting the approval for the signing of a loan agreement between Lebanon and the Arab Fund for Social Economic Development. This secures the financing of a project to rehabilitate the main road north of the Arab Highway, in line with Lebanon’s ambition to become the gateway to Syria and from there to Iraq and the Arab world. The second is an agreement between Lebanon and the World Bank for the construction of the public transport system in the Greater Beirut area. (Al Mustaqbal, An Nahar, December 12, 15, 2018)

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USD 300 million of tobacco revenues in 2018

19-12-2018

The general director of the Regie Libanaise des Tabacs et Tombacs, Nassif Siqlawi, said he expected the net revenue of the national treasury from the tobacco sector during 2018 to reach around 440 billion L.B.P. despite the precarious situation in the country. Siqlawi was speaking during the annual dinner of international companies and heads of sales held in Beirut on December 12. He revealed that the Regie will soon sign an agreement with the British-American Tobacco BAT for the manufacture of its brands in the Regie’s factories, similar to agreements with other international companies. The Regie, Siqlawi explained, now manufactures around 19 international brands in addition to its 9 local brands. The state-run firm, he stated, has tried throughout a year of hardwork to overcome challenges and play against the odds of economic indicators, boasting that the Regie proved itself as one of the main resources of the State Treasury. The Regis also tried to play against the odds of global trends, Siqlawi mentioned, noting that the international decisions point to radical changes in the tobacco sector, and asked: “Do such decisions take into consideration the specificity of each country? Is Lebanon ready to lose the tax revenues generated by the sector?”. (Al Mustaqbal, Al Diyar, December 13, 2018)

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Food health: Bad potato seeds, companies prosecuted for using Rhodamine B

19-12-2018

MP Wael Abu Faoor disclosed that some agricultural mafias and traders are trying to tarnish Lebanese potato by marketing bad seeds. Abu Faoor was speaking following a meeting on December 14 with a delegation of potato growers from Rashaya. One of the main fears raised by the farmers is the introduction in large amounts of (Class A) potato seeds that carry agricultural diseases and which could lead to a decline in production and deterioration of the soil, especially after exhausting the limited quantities of the good quality (Class E) potato seeds. In a related development, agriculture minister, Ghazi Zeiater, met on December 15 with a delegation of Bekaa potato farmers, which included representatives of the Syndicate of Potato Growers in Beqaa and the Cooperative Society of Potato Growers in Akkar. The meeting discussed the importation of crop seeds from Europe, particularly Class E, following a drop in its cultivation due to climate change. The delegation demanded special permission to import the sector’s needs from Class A seeds. On the other hand, the ministry of agriculture on December 17 referred 7 institutions to the public prosecution to take the necessary measures against dealers distributing the prohibited Rhodamine B found in foods, particularly in pickles. The violating firms are, Yahya Abbas firm in Daraya (Shuf), Siblani in Mraijeh (Baabda), Hadaik Ghadaq in Anjar (Zahleh), Conserves Chtaura in Makse (Zahleh), Riachi in Zalqa (Matn area), Ghosn in Khiyam (Marjey3oon) and Mantoujat al Dai’a in Kfar Aqqa (Koora). (Al Diyar, An Nahar, L’Orient Le Jour, December 16, 18, 19, 2018)

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