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Cooperation between Algerian and Lebanese businessmen & businesswomen

20-7-2017

A delegation of the Businessmen and Businesswomen in the World Association (RDCL) led by Fouad Zamakhal, met with the Algerian Ambassador to Beirut, Ahmad Bouzyan, to discuss ways of cooperation between the Gathering, on the one hand, and the Algerian business and private sector, on the other. Following the meeting, Zamakhal, said discussions were fruitful, particularly on viewing the importance of building bilateral economic partnerships and promoting socio-economic cooperation. He stressed the need to activate exchange of expertise between business people to attract investments to both countries and to other Arab states. For his part, Bouzyan disclosed that the two sides agreed to prepare for the visit of RDCL to Algeria, in collaboration with the Algerian embassy in Lebanon between September and October this year for more coordination. (Al Diyar, Al Mustaqbal, July 20, 2017)

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LBP 675 thousand the new minimum wage in the public sector

20-7-2017

Five years after it was initially submitted, the new public salary scale was finally approved the day before yesterday during two successive legislative sessions chaired by House Speaker Nabih Berri. The new salary scale is expected to be funded from the budget if the latter is endorsed within a period of one month, otherwise, it will become effective by force and payment will start automatically after the elapse of the month. However, heated political debate over this matter, Al Akhbar daily wrote, is continuing. The Parliament was expected to review yesterday the ratified provisions of above new bill, including the 1% hike in value added tax, leaving the most important ones for today, namely taxes targeting banks, real estate and financial institutions, as well as, the maritime property law. Some of the notable provisos approved last Tuesday were related to increasing pensions for retired civil servants to be paid in a three-year installment, raising grades of high school teachers whereby the increase in salaries of public and private teachers becomes equal, raising the minimum wage in public administrations and in the Lebanese University to LBP 675 thousand (but without a retroactive effect), and extending working hours of state employees (Monday thru Friday without Saturdays) from 8:00 am to 3:30 with exemption of two working hours on Friday associated with prayer time. (Al Diyar, Al Mustaqbal, An Nahar, Al Akhbar, July 19, 2017)

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Lebanon and EU focus on barriers to Lebanese exports

19-7-2017

The foreign minister Jibran Bassil and the high representative of the Union for Foreign Affairs and Security Policy, EU vice-president, Federica Mogherini, held yesterday the 8th EU-Lebanon Association Council, the highest reporting institution on bilateral relations. Present on the Lebanese side, were economy minister, Raed Khoury, industry minister, Hussein Haj Hassan and minister of social affairs, Pierre Abu Assi. Discussions focused on regional matters, primarily the Syrian conflict and resulting refugee crisis and the need to assist Lebanon through the promotion of trade exchange between the host country and the European Union through the application of a joint working plan. The latter aims to ease obstacles impeding the export of specific products and introduce amendments on rules of origin regulating access of a number of made-in-Lebanon goods, like, industrial, agricultural, pharmaceuticals and IT products in order to generate new jobs and enhance conditions for investment. On the other hand, Bassil received from the representative of the European Bank for Reconstruction and Development (EBRD ) the ratification document by which Lebanon officially becomes a member of the European Bank (EBRD) and which enables the EBRD to implement projects in Beirut as well as to offer soft loans to the country. To note, the bank will focus on small and medium enterprises and will support energy projects. (Al Mustaqbal, Al Diyar, July 19, 2017)

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Ministerial strategy for industrial development

18-7-2017

The minister of industry, Hussein Haj Hassan, represented President Michel Aoun during the inauguration of the Millennium plant in Hsoun, Jbeil, in the presence of MP Walid Khoury representing House Speaker Nabih Berri, the project owner, Rabii Khalil Awad and a number of mayors and makhateer, as well as, judicial, military industrial and trade union figures. During the opening ceremony, Haj Hassan described the industrial sector as the engine of economy, pledging to pursue his ministry’s policy of developing the sector through focusing on five main props, namely: increasing exports, protecting domestic production from foreign competition, reducing cost of production, improving product quality and efficacy, and the progressive introduction of technology-based industries that ease access to new markets. For his part, Awad emphasized the significance of his first industrial venture in Lebanon after the Algeria model. This step, Awad noted, “is not a risky venture as some view it. In fact, it strengthens our faith in our country and in our capacity to replicate in our homeland what we already achieved abroad in order to revive the economy and generate new jobs…” Awad concluded by saying that the future of industry in Lebanon is linked to two key dynamics, legislation and stability. (Al Mustaqbal, Al Diyar, July 16, 2017)

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Skills gap in Lebanon’s and Arab labor markets

17-7-2017

A joint study by the Middle East leading job website, Bayt.com and the research and consulting agency, YouGov, has shown that 63% of respondents believe there is a skills gap in the labor market in Lebanon. On the regional front, the ‘Middle East Skills Report’ has indicated that 65% of employers believe there is such a gap, 7% say there is not, with 28% say they did not know. The survey also pointed out that employers and job seekers agree on the presence of a skills gap in the MENA region. The majority of those on the lookout for employment (nearly 59%) think that there is a skills gap, while only 11% believe there is not. On the challenges facing job seekers, the report mentioned that the chief reason for not finding the right job for their skills is a lack of awareness on their part of what skills are mostly needed (33%). Just above a quarter of the job hunters (26%) found that the educational system is not helpful vis-à-vis training of students on today’s marketplace relevant skills. The report went on to say, that the gap between employers and job seekers is quite significant when it comes to time management skills and teamwork. While 87% of job seekers believe they are very good in managing time, 47% of employers think that finding applicants who own that skill is in fact one of the biggest obstacles they face in recruitment. (Al Mustaqbal, July 16, 2017)

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Agriculture ministry to strengthen the sector and the work of cooperatives

17-7-2017

The minister of agriculture Ghazi Z3ayter, praised what he termed a self-sustained society, cautioning against wasteful dependence on food import. Z3ayter who was speaking during a seminar entitled ‘development of Lebanese agriculture and its impact on the economy’ at the Socio-Cultural Bassel Assad Center in Baalbek, warned that a nation which manipulates the livelihoods of its citizens can never achieve stability. While lauding the role of the vital pillars of the economy, namely agriculture, industry, commerce and, additionally, the services sector, Z3ayter strongly disapproved the building of an economy which relies exclusively on services. Said sector, Z3ayter noted, is unreliable as is highly influenced by regional changes and can be catastrophic to the overall economy. Hence, he said, the need has risen to revive agriculture, pointing to a new 5-year strategy by his ministry which involves a set of plans. These are: development of the cooperative sector; re-activation of the Cooperative Credit Union and the General National Union of Lebanese Cooperative Associations; support and activation of the National Cooperative Fund for Insurance of the Agriculture Sector against Natural Disasters. The latter, Z3ayter stated, will help ensure the psychological and social stability of farmers who are exposed annually to natural disasters in various production sectors. (Al Mustaqbal, July 17, 2017)

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Innovations in Lebanese agro-food industry

17-7-2017

The Agrytech Accelerator in Lebanon has reportedly completed the first phase of its program with Demo Day held last Wednesday in Saint Joseph University’s (USJ) Abu Khater Amphitheatre. The event embraced 17 teams showcasing their innovative solutions in the agro-food industry in the presence of industry specialists, fund managers, business professionals, startups, entrepreneurs and the media. Owners of the 17 participating startups underwent a 2-month bootcamp during which they learned different business practices and communicated with sectoral experts. This allowed them to put into effect their acquired know-how to validate their business models and test the market and potential users, in addition to briefly introduce their viable products. Additionally, a USD 3300 worth of grant was dispensed to each team to cover the costs of the validation process. It should be noted, that owners of startups have presented their final demonstration earlier on July 10 before a jury of entrepreneurship, technology, investment and agri-food experts. Eleven teams have been shortlisted for the second phase of the program which will include a 4-month acceleration with USD 16 thousand in support grants. On the occasion, charge d’affaires of the Embassay of the Netherlands to Beirut, Han-Maurits Schaapveld, said that uniting great talents and efforts will help create ultramodern innovations and technologies to solve local and regional problems, like water scarcity and mismanagement. (An Nahar, July 15, 2017)

Previous related news:
Workshop on “Agrytech” in Saida
Center for Smart Innovations for Agri-food targeting emerging enterprises in Lebanon
 

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FPM issues an ambitious economic white paper

14-7-2017

The Free Patriotic Movement (FPM) launched yesterday its 3-year economic white paper based on cross-sectoral comprehensive plans. The said document requires setting up a ministerial economic council to develop schemes and recommendations to be discussed in the Cabinet, and at the same time to activate the Economic and Social Council. The above FPM paper has three main headings: encouraging investment and securing a competitive environment; raising the level of research and future sciences, and the development of remote and rural areas and equipping them with essential infrastructure. Other notes include: the expansion of the national economy; increase of exports and reduction of size of imports; securing social safety networks; reform of the judiciary; ending encroachment on public spaces and investment in natural resources, mainly assets. To realize set goals, the FPM called for structural reforms aimed at expanding the size of overall and potential GDP; boosting real economic growth between 3.5% to 5.25% in the next 4 years; creation of new jobs; gradual reduction of the substantial trade deficit. The FPM policy also called for putting in check the mounting public debt and reducing the overall size of public debt in proportion with the size of the national economy. On the fiscal and monetary front, the paper supports stabilization of the local currency in parallel with the necessary reforms as well as adjustment of the public finance to achieve a monetary format that clips inflation, stimulates growth and reduces debtor finance interest rates to stimulate lending. Other headings for the policy, call for reform of the tax system, review of the direct tax structure and improvement of tax collection. (Al Mustaqbal, An Nahar, Al Diyar, July 14, 2017) For the document, please visit the following link: http://nna-leb.gov.lb/ar/show-news/293928/

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Beirut Design Fair in September

14-7-2017

The organizers of this year's first edition of Beirut Design Fair announced the event’s program in a press conference yesterday attended by founder/ director of the fair, Guillaume Tasle d’Heliand, co-founder/ head of exhibitors relations, Hala Mubarak, and a number of designers. The exhibition which will take place from 20 to 24 September will embrace prominent Lebanese names in the world of design, trademarks, showrooms, artisans and distributors along with emerging designers who represent a promising generation of creators yet to be discovered. The fair also seeks to become an upscale platform to promote Lebanon’s standing in the heart of the global design arena, while meeting the expectations of amateurs, collectors and practiced innovators on the lookout for inspiring projects and objects in the field. On the occasion, Guillaume underlined the purpose of the fair which is to help Lebanon forge a prestige worthy of its name and be in the forefront of the creative space in the region. Mubarak for her part, said the inventions by Lebanese designers are the outcome of innovative, sensational and elegant ideas, aided with a will to polish traditional skills and craft inspirations of high value. ( Al Mustaqbal, July 14, 2017)

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Aoun to the World Bank in Lebanon: Lebanon will soon launch a comprehensive economic plan

14-7-2017

The Regional Director of the World Bank’s Middle East region, Saroj Kuma Jha, visited President Michel Aoun, House Speaker Nabih Berri and Finance Minister Ali Hassan Khalil to discuss partnership between Lebanon and the WB. Kumar also met with the president of the Lebanese Businesspeople Association (RDCL), Fouad Zamakhal, who was briefed on the WB view of the current economic situation in Lebanon and anticipations for the coming period. In this respect, Aoun notified Kumar that Lebanon is in the process of launching a comprehensive economic strategy that includes future economic visions to bolster productive sectors and limit dependence on rentier economy. Aoun, who thanked the World Bank for its trust in Lebanon’s ongoing recovery through its support of numerous development projects, told Jha that backing small and medium enterprises is a priority and an essential step to boost national economic capacities. Similarly, Jha stressed the World Bank’s unwavering commitment to help Lebanon particularly in the wake of restoration of constitutional institutions, revealing that the international organization has allocated a financial portfolio according to priorities set by the President and the Government. For his part, Zamakhal asked the World Bank to assist Lebanon through organizing transparent bids, structural reform in public institutions and provision of funds for infrastructure rehabilitation. Jha in return noted that the World Bank is fully prepared to support Lebanon to promote job creation through development of the private sector. (AL Diyar, Al Mustaqbal, July 14, 2017)

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