Booming investment in food industry in Lebanon

The Chair and General Director of the Investment Development Authority of Lebanon (IDAL), Nabil Itani, said that the year 2015 witnessed a remarkable increase in investments in food industry, despite the internal political turmoil and regional conflicts. Itani pointed out that IDAL received some 13 new investment projects in the agricultural food industry sector during the present year, exceeding a total value of USD 70 million, while pointing out that the majority of investors were Lebanese nationals. Itani noted that while the regional tension and the resulting sharp fall in the prices of oil took their toll on Arab Gulf investments in Lebanon, there was a growing interest worldwide and within the country in food safety and food security, adding that food industry recorded one of the best performances of the industrial sector in Lebanon. (Daily Star, November 14, 2015)