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Lebanon welcomes investment from China

04/09/2019 12:46

A senior business official from Lebanon said that Lebanon’s new government welcomes more investment from China in a bid to rejuvenate the country’s economy and resume its economic, investment and logistics hub in the region.

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Adnan Kassar, Honorary Chairman of General Union of Chambers of Commerce Industry and Agriculture in the Arab countries made the remarks as he was attending an investment forum between China and Lebanon held in Beirut on March 30. Kassar said Lebanon government also welcomes Lebanese enterprises to participate in the Belt and Road construction.

The forum was co-hosted by China Council for the Promotion of International Trade (CCPIT), Lebanon Fransabank, The Federation of Chambers of Commerce, Industry & Agriculture in Lebanon (FFCCIAL) and General Union of Chambers of Commerce Industry and Agriculture in the Arab countries.

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CCPIT Chairperson Gao Yan hailed the long-term friendly relations between China and Lebanon and the bilateral economic progress in the recent years. China now is Lebanon’s largest trade partner. Gao proposed both countries expand bilateral trade and investment, foster infrastructure construction, and deepen cooperation in finance and tourism industry. Gao welcomed Lebanese government and business community to participate in the 2nd Belt and Road Forum for International Cooperation and Belt and Road CEO Conference, to organize more exchange of visits, and to foster cooperation in information sharing, commercial and legal services.

Chinese ambassador to Lebanon Wang Kejian said Chinese government will enhance coordination in policy match-making, back up the integration of Lebanon’s development plan with China’s Belt and Road Initiative. China will assist with the matching of enterprises of both sides and bolster up Lebanon’s efforts in safeguarding the country’s sovereignty, security and stability.

On behalf of Lebanon’s Prime Minister Saad Hariri, Minister of Telecommunications of Lebanon Muhammad Choucair sent Saad’s good wishes for the success of the investment forum. Choucair hailed China as Lebanon’s largest trade partner and the Belt and Road Initiative giving new impetus to China-Lebanon business cooperation.

Meanwhile, an arbitration coordination platform was established following an MoU signed between CCPIT and FFCCIAL. More than 200 entrepreneurs from both countries attended the forum.

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