Lebanon is fighting negativity the right way
17 August, 2015
This year brought negativity and pessimism towards the capability of Lebanon to attract business. Regional conflicts have gotten out of hand, and the overall easy and efficient business setup in Lebanon cannot provide the much needed security you require from a country close to the Middle East.
The ongoing nearby war in Syria damaged the region's stagnating reputation and significantly lowered Lebanese exports. Furthermore, the conflict introduced almost 5 million refugees in Lebanon, further damaging the country's crumbling infrastructure.
However, the Lebanese Government remains optimistic and aims to introduce a number of policies to battle this negative outlook. With this article we will examine these options and prove investment in Lebanon is still a viable option.
Government bond strategy
Lebanon is aiming to introduce a US-dollar denominated bond strategy to collect up to 1.5bn. from the markets. With these predominantly foreign reserves the Government will secure smooth repayment of its current debt and avoid using own funds, much needed at the moment. This strategy is welcomed by the Central Bank, and most political figures, as a great revitalising option.
The Lebanese Governor Mr. Salameh confirmed there will be a new economic stimulus package, to be introduced in 2016, improving the security situation in the country while greatly contributing to the growth opportunities and expectations. This package is further supported by the Central Bank, an institution perceived as one of the most dependable in the region.
Ease of doing business
Lebanon is straightforward country to setup and maintain a foreign-owned business. As one of the fastest solutions in the region, foreign investors can expect quick and efficient company registration with moderate amounts of red tape. Fully foreign owned companies are allowed and no requirement for local partner is imposed on most projects. A company can be setup from scratch in just under 3 weeks with minimal requirements.
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