Hajj Hassan inaugurates the National Food Industry Day and praises the recent tax reduction on exports

The Minister of Industry, Hussein Hajj Hassan, inaugurated yesterday the 8th edition the National Food Industry Day which was organized by the Syndicate of Food Industrialists at the Horeca annual Fair.  This year’s National Day was organised under the slogan of “create, renovate and produce”.
During his inaugural address, Hajj Hassan congratulated the industrialists for the new law just endorsed by Parliament regarding the 50% taxation reduction on industrial exports.  He called on food industrialists and all other industrialists to pursue their commitment to Lebanese standards especially food safety standards.  He warned that any mistake on that front will affect all industrialists as well as the national economy.  Hajj Hassan declared his support to the new project submitted to the Ministry of Finance and granting incentives to institutions which invest in research and development in the form of a 5% waiver.  He also noted that he will continue with his efforts to strengthen the role of industrial research institutes as well as the programme for industrial research achievements.
For his part, the president of IDAL (Investment Development Authority of Lebanon) Nabil Itani noted that the food industry sector has made a quantum leap during the past few years as its exports now constitute some 11.38% of total industrial exports.  He also noted that food industries now account for more than 18% of the total industries and absorb some 25% of total labor in the sector, whilst the food processing sector has grown between 2008 and 2012 by an annual average of 7%.
Source: Al-Safir, Al-Diyar 4 April 2014