IDAL creates 500 jobs annually against 34 thousands needed

On the sidelines of the 24th edition of the Arab Economic Forum held in Beirut last Thursday, the Investment Development Authority of Lebanon, (IDAL), distributed a booklet containing a summary of its achievement during the past 15 years.  IDAL said it has helped create some 6806 new jobs at a rate of 453 jobs per year, divided among the following investment sectors: tourism (3503 jobs); food industries (1340 jobs); industry (894 jobs); technology (670 jobs); communication (221 jobs); IT and communication (94 jobs); media (47 jobs); and finally agriculture (37 jobs). It should be noted, that the total number of university graduates in Lebanon is estimated at 47 thousand students each year, and that the country is in need of over 34 thousand new employment prospects annually, whereas only 3400 news jobs are actually created. The IDAL information sheet also indicated that presently the rate of unemployment in Lebanon has reached 25%, (36% among the youth and 47% among university students), adding that some 67 thousand young people from different educational levels are forced to leave the country every year. (Al Diyar, May 13, 2016)