Iqleem al Kharrub aims to create a model economic zone

The Economic Forum launched yesterday the Iqleem Fund for Development and Investment aimed at the creation of a model economic zone in the Iqleem al Kharrub which provides facilities to investors, tax exemptions and funds for projects. The launch took place in Beirut under the sponsorship of the Union of Lebanese Chambers in cooperation with the Investment Development Authority of Lebanon (IDAL), Bank Misr Liban (BML) and Beirut Arab University. The Forum’s president, Ahmad Mohyeddine Alaaddine, described the projected zone as unique in such that it will help in the restoration of a sustainable national relationship between the Lebanese emigrants and their homeland. He stressed that the purpose of the above fund is to establish a promising zone that attracts investments of various industries and young inspired initiatives, in addition to the creation of jobs and businesses and the employment of skilled labor, paving the way for a sustainable social and economic development in the area. For his part, the CEO of BML, Fadi Da3uk, pointed out that the partnership between the bank and the forum is an undertaking that involves the establishment of an economic city with the private sector in the Iqlim. The project, Da3uk added, shall prompt the launch of small and medium enterprises and boost the role of young entrepreneurs. IDAL president, Nabil Itani, likewise said the fund initiative, emanating from the Development and Innovation Fund, contributes to the economic and social growth of Iqlim al Kharrub which sustains competitive-bound economic dynamics. this, he added, will qualify the area to play a leading role in national economy if given the right conditions and capacities supported by vision and strategy. (Al Mustaqbal, October 18, 2016)